How can AI Transform Crypto Staking?
11 Apr 2023
4 min read
•AI become more popular in Crypto in the last few years
•People are really interested in AI technology
•AI have occupied a small part of the market
•AI has the potential to significantly impact the crypto industry in future
The emergence of Artificial Intelligence (AI) has revolutionized many industries, and the crypto industry is no exception. In this article, we will explore how AI is changing the Crypto. AI is a technology that enables machines to learn from data and make decisions based on that learning, making it an excellent tool for processing the vast amounts of data.
Artificial intelligence is now clearly ahead of crypto assets in terms of interest. The recent JP Morgan survey of 835 institutional traders confirms this.
In the next 3 years, those technologies will be most influential for trading, according to the survey There is nothing surprising here, remember the number of mentions in 2023 in the media about Chat GPT and Midjourney. The AI fever has not missed the crypto market. Earlier this year, it was hit by a wave of hype in the segment of AI tokens. The most popular of them were on everyone’s lips and broke records in daily trading volumes. There is a risk that investors do not fully understand this technology. You can’t just put artificial intelligence into blockchain. However, it can be used to significantly increase the functionality and capabilities of blockchain. The current spike in the price of AI-related digital assets is driven more by speculation than real technological breakthroughs, although they will come later.
Let’s take a look at some AI-related use cases: •Trading with AI •AI Projects
Trading with AI
Two of the key powers delivered by AI are automation and insights, both of which play a key role in AI cryptocurrency trading. Trading bots are now being used by crypto investors to automate the buying and selling of positions based on key technical indicators. There are some key challenges to trading crypto. For one, the markets are open 24/7, making it necessary for traders to constantly monitor the charts if they don’t want to miss out on a trade. This is one of the key reasons AI crypto trading bots have become popular over the years. AI trading bots achieve a higher level of performance, and they don’t require the user to spend loads of time studying different strategies and parameters. And they are a great option for those looking to get into crypto trading since they enable non-professional traders to leverage profitable strategies. Back in 2020, hedge funds with artificial intelligence capabilities showed a huge competitive edge over investors that didn’t use AI.
The convergence of two highly-advanced technology, blockchain and artificial intelligence, resulted in the creation of AI cryptos. This allowed the community to benefit from both these technologies. One thing common among all these new crypto tokens is that they have made use of AI features. Most of the time, users reportedly would spend these AI cryptoassets for transaction purposes within the native blockchain network. However, over time, individuals have pointed out the potential of AI. Let’s take a look on few AI Crypto projects.
Fetch is an open-source decentralized platform that allows the building of a new digital economy. It allows the creation of intelligent autonomous agents which are tools that function using AI. These tools can handle complex tasks such as advanced analytics, predictive modelling, and decision-making. The bots communicate with each other and also with human interfaces to allow seamless communication. The native token of Fetch.ai is FET. FET is currently trading at $0.3683 with a market cap of $301 million at the time of writing. The current circulating supply of FET tokens is close to 819 million. You can participate in development of Fetch.AI by staking with Stakewolle In conclusion, AI has the potential to significantly impact the crypto industry, from improving trading experience to revolutionizing portfolio management. As AI technology continues to evolve, we can expect to see even more innovative use cases for AI in the crypto industry in the future.
SingularityNET is a decentralized platform that provides a framework for creating and sharing AI algorithms and services. The platform is built on blockchain technology, which provides a decentralized and secure environment for developers to create, share, and monetize their AI services. AGIX is the native token of SingularityNET is trading at $0.42 and has a total market value of $507 million at the time of writing. AGIX is a network with the highest Market Cap among AI-based projects and it ranked 90 among other blockchains. This shows a place of AI among the entire cryptocurrency market.
AI has the potential to significantly impact the crypto industry, from improving trading experience to revolutionizing portfolio management. As AI technology continues to evolve, we can expect to see even more innovative use cases for AI in the crypto industry in the future.