Ethereum (ETH) prices are expected to surge considerably in 2024 as spot exchange-traded funds are expected to be approved in May, opening the door for trillions of dollars to pour into the space. ETH is one of the best coins to invest in right now as prices are expected to rise as high as $6,500 before the year ends.
However, InQubeta (QUBE) and a few other cryptocurrencies that offer solutions in the artificial intelligence (AI) space are expected to enjoy considerably more growth.
The seven best AI-focused altcoins that are projected to outperform Ethereum in 2024
Let’s take a closer look at the seven altcoins that are expected to outperform Ethereum’s price growth this year:
1. InQubeta (QUBE)
This new DeFi project has generated lots of buzz lately as its presale sells over $10.3 million worth of tokens as it enters the eighth stage of its presale, with just one more stage to go. It delivers a decentralized investment space that focuses on artificial intelligence startups. It intends to democratize access to such investments, giving investors who don’t meet the random requirements of many mainstream investment firms an alternative way to obtain equity in AI startups.
InQubeta’s crowdfunding platform allows AI startups to create and sell ERC20 coins that symbolize reward and equity-based investment opportunities. InQubeta is poised to play a key role in connecting AI firms with investors as over $1.5 trillion flows into artificial intelligence in the next several years.
2. Render (RNDR)
Render allows its users on its platform to monetize their unused processing power by connecting them with companies and individuals who need more processing power. Like InQubeta, its blockchain was built on the Ethereum network. Render investors have earned 268% profits in the last 12 months. It’s expected to enjoy more growth this year.
3. Injective (INJ)
Injective’s blockchain was built specifically for decentralized finance. It provides users with a wide range of services from spot exchanges to prediction models. It’s one of the best DeFi cryptos around right now and its prices have risen by 762% in the past year.
4. Algorand (ALGO)
Algorand is a decentralized, self-sustaining network that’s compatible with various types of applications. Its blockchain is intended to serve as a payment processor, offering users near-instant transactions and low fees. It’s one of the most popular cryptocurrencies that central banks looking to launch digital currencies go to.
ALGO prices grew considerably during the closing months of 2023, but most of its price gains were lost as prices pulled back. Solid support appears to have been found at $0.15, and prices have grown 6% in the past month.
5. Fetch.ai (FET)
Fetch.ai is a machine-learning ecosystem that uses blockchain technology. It allows users on its network to create and launch AI agents for applications that provide varying services from decentralized finance to energy management. Its network empowers its users with automated bots that communicate with each other and negotiate deals based on set parameters.
FET prices have risen 120% in the past 12 months and prices are expected to surge exponentially as investments in artificial intelligence grow.
6. Filecoin (FIL)
Filecoin runs a peer-to-peer decentralized data storage network that competes with centralized storage solutions like Google Cloud. It gives those with excess data storage a means to monetize their unused data storage, while allowing users to rent cloud storage space at cheap rates. While the Filecoin project does not directly focus on developing artificial intelligence, it provides a decentralized and secure way for developers of AI models to store their data.
Filecoin recently joined up with Solana (SOL) to help free up the latter’s blockchain by moving some of its data off-chain.
7. Chainlink (LINK)
Chainlink runs the largest decentralized oracle network that helps blockchain networks communicate with the external world. Its protocol enables cross-chain communication between networks, allowing for the deployment of powerful hybrid smart contracts.
Chainlink’s Oracle system allows blockchain networks to access large data sets and connects machine learning models that are deployed on blockchains with external data feeds
Summary
The seven altcoins on our list are expected to enjoy considerable price surges in 2024 thanks to the solutions they deliver. InQubeta is anticipated to outperform the others as it links AI startups with funding sources.
