Top three AI-related tokens yielding highest gains year-to-date: AIOZ, AR, FET


  • Artificial Intelligence has been a top-performing sector in cryptocurrencies this year, per Blockworks data. 
  • AIOZ, AR, and FET rank among the AI tokens with the highest yield year-to-date. 
  • AI tokens’ market capitalization exceeds $21 billion on Wednesday. 

The Artificial Intelligence (AI) sector in the crypto market has a few protocols whose tokens have generated significant yields for users since the beginning of 2024. AI is one of the best-performing crypto asset classes in 2024, according to BlockWorks data. 

The top-performing assets are AIOZ Network (AIOZ), Arweave (AR), and Fetch (FET) as the AI supply chain has been focused on utility. 

The overall market capitalization of the AI category of tokens is above $21 billion, per CoinGecko data, at the time of writing. 

Top performing AI tokens so far this year

Blockworks data shows the 2024 year-to-date performance of ten cryptocurrencies from the AI sector. Render (RNDR), FET, Bittensor (TAO), Akash Network (AKT), Near Protocol (NEAR), Nosana (NOS), Worldcoin (WLD), Filecoin (FIL) and Arweave (AR) are seen in the chart below.

The AI tokens yielded the highest gains in March. Since then there has been a decline, but the year-to-date performance for top AI tokens ranges from 20% and more than 200% gains, per Blockworks. 

The YTD performance of these tokens:

AIOZ: 214.95%

AR: 142.61%

FET: 33.81%

Even as the top 3 tokens suffered a correction in their prices in August 2024, the YTD gains of these assets are the highest in the category, per Blockworks data.

Crypto

AI coins YTD performance

AIOZ Network

AIOZ Decentralized Content Delivery Network (dCDN) is a protocol that powers Artificial Intelligence computation, data storage and data streaming for decentralized applications (dApps) within the ecosystem. 

The latest development in AIOZ Network is its collaboration with the University of Arkansas on an AI project to advance medical imaging, announced on August 15.

The AI token gained popularity among traders as AIOZ network offers low transaction fees compared to most other applications, instant finality helps speed up live streaming, and tokens can be earned by staking. Users can make payments to dApps within the network using AIOZ tokens and the peer-to-peer network offers better scalability and cost-efficiency than other AI video-streaming services. 

AIOZ rallied nearly 2% on Wednesday, trading at $0.4459 at the time of writing. 

AIOZ could extend gains by nearly 26% and hit key resistance at $0.5641, the neckline of an inverted W formation in the AIOZ/USDT daily chart. 

The Relative Strength Index (RSI) reads 45.67, inching closer to the neutral level.

AIOZ

AIOZ/USDT daily chart

AIOZ could find support in the Fair Value Gap (FVG) between $0.3179 and $0.3891. 

Arweave 

Arweave describes the network as the open library of the internet. AO is a project by Arweave, a hyper-parallel computer that offers temporary data storage utility on the chain. 

Arweave is popular for its data permanence, however, with the new update, it offered time-bound storage too, providing a solution to more developers and users looking for the utility. 

AR trades at $23.56 and the AI token’s price is nearly unchanged on Wednesday.

AR is likely to rally 11.53% towards the next key level, $26.35, the upper boundary of a Fair Value Gap (FVG) in the chart below. The Relative Strength Index (RSI) reads 50.52, at the neutral level. 

AR

AR/USDT daily chart 

AR could find support in the FVG between $21.60 and $22.90, and the August 5 low of $16.22 in the event of a price correction. 

Fetch

FET trades at $0.886, extending gains by nearly 2% on Wednesday. The AI-backed blockchain helps users create a decentralized digital economy within a single ledger. 

The AI token’s price has been nearly unchanged in the last seven days, per TradingView data.

FET

FET/USDT daily chart 

Fetch’s token could extend gains by 12.79% towards $1, a key psychological level for the asset. Since the steep correction in the last week of July and early August, $1 has emerged as a key level for FET. 

The Relative Strength Index (RSI) reads 43.32, FET is recovering from the oversold condition on August 7. 

FET could find support at the FVG between $0.85 and $0.86 in the event of a correction. 

Bitcoin, altcoins, stablecoins FAQs

Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.

Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.

Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.

Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin Weekly Forecast: Is BTC sell-off over?

Bitcoin Weekly Forecast: Is BTC sell-off over?

Bitcoin price declined over 6% this week until Friday as the escalation of the conflict between Iran and Israel added fuel to this sell-off. The decline was also supported by falling institutional demand for ETFs, which recorded outflows of more than $280 million this week. 

More Bitcoin News
Three reasons why Solana could see a double-digit decline

Three reasons why Solana could see a double-digit decline

Solana price appears to have found some support on Friday, recovering slightly from the sharp sell-off registered earlier this week. However, on-chain metrics and technical indicators show increasing chances of a further decline in prices, suggesting that the rebound could be short-lived.

More Solana News
Tron network revenue exceeds Bitcoin, Ethereum and Solana in Q3

Tron network revenue exceeds Bitcoin, Ethereum and Solana in Q3

 The Tron network (TRX) generated the highest revenue in the third quarter since its inception, outperforming leading cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

More Tron News
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin finds support around $60,000

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin finds support around $60,000

Bitcoin is hovering around its key support level; a sustained close below this threshold could signal further declines. On the other hand, Ethereum and Ripple have closed below their critical support levels, indicating further downsides.

More Cryptocurrencies News
Bitcoin: Is BTC sell-off over?

Bitcoin: Is BTC sell-off over?

Bitcoin price declined over 6% this week until Friday as the escalation of the conflict between Iran and Israel added fuel to this sell-off. The decline was also supported by falling institutional demand for ETFs. BTC bulls seem to be holding strong at a critical support level.

Read full analysis
Five best Forex brokers in 2024

Five best Forex brokers in 2024

VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals. 

Read More

BTC

ETH

XRP