Ever since OpenAI’s ChatGPT was released in late 2022, Artificial Intelligence (AI) has become all the hype, leading to astronomical valuations of AI companies and also a price surge in AI-related stocks. This mania has since perpetuated to AI crypto coins, with prices surging across the board.
What Are the Top AI Crypto Coins by Market Cap?
The top AI crypto coin by market cap is Bittensor (TAO), at $3.85 billion as of February 29, 2024.
This is followed by Render (RNDR), with a market cap of $3.03 billion.
Fetch.ai (FET) is third, with a market of $1.41 billion.
Bittensor Remains Undisputed Number One
Bittensor, a decentralized machine learning protocol powered by the TAO token, remained the largest AI crypto coin throughout January and February 2024. It had a market cap of $3.85 billion on February 29, 2024. It's market cap was $0.82 billion higher than Render's market cap of $3.03 billion.
AI crypto coins in the top five didn’t experience any change in rankings throughout the first two months of the year. However, outside of the top 5, there were significant changes. Autonolas (OLAS), which started 2024 in sixth place with a market cap of $0.30 billion, dropped to ninth by February 29, at $0.30 billion. While it saw an increase in market cap of $4.07 million, it was outpaced by other AI coins.
Nosana (NOS), managed to improve its rankings the most, having started 2024 in ninth place, it ended February in seventh. Its market cap climbed from $0.05 billion to $0.51 billion, gaining $0.46 billion.
Which AI Crypto Coins Gained the Most?
The largest gainer amongst crypto AI coins in 2024 was Nosana, with a price increase of 987.9%, rising from $0.56 to $6.01 within two months.
This was followed by DeepFakeAI (FAKEAI), which saw an increase of 628.6%, from $0.0008 to $0.0069
Synesis One (SNS) came in third, rising 595.4%, increasing its price from $0.016 at the start of the year to $0.108 by the end of February. However, across the board, AI crypto coins rose an average of 257.2% between January 1 and February 29, 2024.
In terms of increase in market cap, Bittensor led the pack, having added $2.22 billion in valuation. It was followed by Render with an increase of $1.20 billion. SingularityNET (AGIX) came in third, with its market cap rising by $0.51 billion since the start of 2024, to $0.93 billion.
While Nosana was the largest gainer in price, it only added $0.45 billion to its market cap, leaving it in fifth position, behind Akash Network with $0.51 billion.
Announcement of OpenAI’s Sora Drives AI Crypto Coins Higher
The announcement of OpenAI’s Sora text-to-video model saw an average price increase of 151.0% amongst AI crypto coins.
DeepFakeAI benefited the most from OpenAI’s latest product, having managed to reverse its downtrend of -31.4% on February 17, to 628.6% on February 29.
Change in AI Crypto Coin Rankings
The change in AI crypto coin rankings on January 1, 2024, versus February 29, 2024, based on market cap.
| AI Crypto Coin | Rank on January 1 | Rank on February 29 |
| Bittensor | 1 | 1 |
| Render | 2 | 2 |
| Fetch.ai | 3 | 3 |
| Akash Network | 4 | 4 |
| SingularityNET | 5 | 5 |
| Autonolas | 6 | 9 |
| Ocean Protocol | 7 | 6 |
| OriginTrail | 8 | 8 |
| Nosana | 9 | 7 |
| Kizuna | 10 | 12 |
| PaLM AI | 11 | 11 |
| Synesis One | 12 | 10 |
| Bostrom | 13 | 13 |
| HyperGPT | 14 | 14 |
| DeepFakeAI | 15 | 15 |
Methodology
The study examined the market cap, and price returns of 15 Artificial Intelligence (AI) crypto coins, between January 1, and February 29, 2024. The 15 crypto AI coins examined were: Bittensor, Render, Fetch.ai, Akash Network, SingularityNET, Ocean Protocol, OriginTrail, Nosana, Autonolas, DeepFakeAI, HyperGPT, Synesis One, Bostrom, PaLM AI, and Kizuna. Crypto AI coins were selected from CoinGecko’s AI category.
This study is for illustrative and informational purposes only, and is not financial advice. Always do your own research and be careful when putting your money into any crypto or financial asset.
If you use these insights, we would appreciate a link credit to this article on CoinGecko. A link credit allows us to keep supplying you with data-led content that you may find useful.
Curious to find out more about our previous research studies & statistics? Check out this one we did on the When to Sell Airdrops.
Shaun is a Research Associate at CoinGecko with a fondness for memes and farming on the blockchain. Follow the author on Twitter @ShaunPaulLee
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