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The highly anticipated Nvidia earnings reports will be in May and before then, these are the top three best crypto AI coins to consider in April 2024.
Following the better-than-expected results in Q4 2023, the share prices of Nvidia, the undisputed king of GPUs and artificial intelligence (AI), soared, pushing the company to over $1 trillion in valuation.
Now, ahead of next month’s earnings report, analysts are predicting a monster quarter, with earnings per share (EPS) expected to surge.
(NVDA)
This bullish outlook and a recent dip in the crypto market could present investors with a golden opportunity to acquire AI-focused crypto coins at bargain prices. And it is easy to see why:
- Nvidia is dominating the GPU market. Moreover, it continues to power the ever-growing AI scene, which is projected to be worth trillions by 2030. Interestingly, Nvidia will likely continue to cement its position in the industry with its Hopper GPU, with supply struggling to keep pace. This trend will likely continue until the launch of Blackwell later this year.
- Bitcoin halving and rising adoption: crypto AI coins don’t exist in isolation. Their positive correlation with Bitcoin and the expected surge after Halving would likely drive them to new valuations, shaking off the current weakness. Halving is set for less than 72 hours from now and would, if history guides, support prices in the coming few months from the expected supply crisis.
Beyond the above, it is critical to understand that AI crypto coins are core to several protocols.
Their utility alone will drive demand, lifting prices. Some of these projects include marketplaces, facilitating the trading and development of AI tools, dApps depending on AI for decision-making, optimization, and automation, and even those involved in data sharing and monetization.
Accordingly, savvy investors might find entries in the current dip, loading ahead of the Bitcoin halving event and Nvidia’s report earnings.
Top 3 Crypto AI Coins To Watch Ahead of Nvidia Earnings
Some of the top crypto AI coins investors are tracking include:
Crypto AI Coin #3 – The Graph (GRT)
This platform is building a decentralized network allowing dapps to index and query data. As of early March 2024, The Graph had integrated over 40 layer-1 and layer-2 platforms, including Avalanche, Celo, and Arbitrum.
(GRTUSDT)
Crypto AI Coin #2 – Ocean Protocol (OCEAN)
The protocol is a layer for exchanging data, a crucial element for training powerful AI models. The platform is so valuable that on April 19, community members approved its merger with Fetch.ai and SingularityNET.
This agreement formed the Artificial Superintelligence Alliance (ASI), which aims to accelerate the development of Artificial General Intelligence (AGI). Following this collaboration in May, a single token, ASI, will be deployed.
Crypto AI Coin #3 – Bittensor (TAO)
The project has one primary objective–to decentralize machine learning and AI, ensuring that they aren’t only controlled by large corporations like Google or Microsoft.
Bittensor exists as a marketplace for AI services built around “subnets.” Think of subnets as communities focused on specific tasks leveraging AI, such as image recognition.
(TAOUSDT)
The Bottom Line: The Time Is Now For AI Crypto Coins
With the broader crypto market retracing, investors are on the lookout. Specifically, the current falling prices of the above best crypto AI coins might offer entries.
If Nvidia earnings exceed expectations, the above tokens will likely soar, extending Q1 2024 gains.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
