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AI Crypto Dominance Shifts: US, UK, and Turkey Emerge as Top Players in 2024

Published March 13, 2024 1:47 PM
Teuta Franjkovic
Published March 13, 2024 1:47 PM
By Teuta Franjkovic
Verified by Peter Henn

Key Takeaways

  • Fueled by Bitcoin’s rise, meme and AI cryptocurrencies are experiencing a boom.
  • The US is the global leader in AI crypto interest, followed by UK and Turkey.
  • Established AI coins such as Bittensor, Render, Fetch.ai, lead the pack

The most recent Bitfinex Alpha report  shows a significant rise popularity of artificial intelligence and meme-based cryptocurrencies.

This development underscores the ongoing “altcoin season,” with meme and AI cryptocurrencies at the forefront of the surge.

Meme Coins & AI Cryptos Surge: AI Index Primed for Breakout

In line with this, an index compiled by CoinGecko , tracking meme and AI cryptocurrencies, has recorded impressive gains of 32% and 38%, respectively, over the past week.

The recent report  underscores the growing fascination with the convergence of artificial intelligence and cryptocurrency, particularly highlighted at the ETH Denver conference . Both domains are attracting keen interest from investors and developers alike.

The tally of new AI-centric projects, initially at 180 in November, has swelled to over 250, showcasing a surge in investment and enthusiasm in the area.

This uptick in interest hints at the promising collaboration between AI technologies and blockchain-based assets. Central exchanges are fueling the rise in altcoin activity by adding a growing roster of AI-focused projects. The CoinGecko AI index , with a current market valuation of $28 billion, is poised to surpass other hot segments like meme coins, anticipating a significant growth spurt in the forthcoming months.

US, UK Lead AI Crypto Craze, Echoing Meme Coin Frenzy of 2023

In 2024, the United States emerged as the frontrunner in the global AI cryptocurrency sector, claiming an 18.9% share of worldwide interest. The United Kingdom followed with a 9.1% stake, and Turkey captured 6.5%, highlighting their keen engagement in this domain. Notably, the US and UK were also at the forefront of the meme coin trend in the previous year, underscoring their pivotal roles in the cryptocurrency market landscape.

India, Australia, Canada, and the Philippines also consistently led in both AI cryptocurrency this year and meme coin popularity last year. This pattern indicates that these nations are especially attuned to the evolving narratives within the crypto market.

AI crypto countries
Credit: CoinGecko

Southeast Asia has exhibited a notably high engagement in AI cryptocurrency. Indeed, four of its countries are in the top global top 15. The Philippines is particularly prominent, securing the 10th position with a 2.8% share of the global interest in this narrative. Singapore and Indonesia are not far behind, each holding a 2.2% share. Meanwhile, Vietnam contributes a 1.2% share to the global interest.

Meanwhile, in the European Union, the AI cryptocurrency narrative finds its most enthusiastic audience in the Netherlands, which boasts a 5.6% share of global interest. Poland and Germany are tied for interest, each with a 3.2% share, followed by France at 2.1%.

The Top 15

Collectively, these top 15 countries in AI cryptocurrency enthusiasm account for a substantial 74.4% of the global market share of interest, underscoring the concentrated nature of attention towards AI crypto narratives in specific regions around the world.

Rank Country Share of Global Interest
1 United States 18.86%
2 United Kingdom 9.14%
3 Türkiye 6.54%
4 India 5.70%
5 Netherlands 5.56%
6 Australia 5.34%
7 Canada 4.54%
8 Poland 3.20%
9 Germany 3.20%
10 Philippines 2.82%
11 Singapore 2.18%
12 Indonesia 2.16%
13 France 2.09%
14 Nigeria 1.82%
15 Vietnam 1.25%
Others 25.60%

AI Coins Take Over: Bittensor, Render, Fetch Lead as Market Heats Up

The AI cryptocurrency market in 2024 is showing strong preferences. Currently, Bittensor (TAO), Render (RNDR), and Fetch.ai (FET) are leading the pack. Their success can largely be attributed to substantial market capitalizations and impressive price performances. Adding to the list of prominent AI coins in the top 200 cryptocurrencies by market capitalization are Akash Network (AKT), PAAL AI (PAAL), SingularityNET (AGIX), Ocean Protocol (OCEAN), AIOZ Network (AIOZ), Nosana (NOS), and Arkham (ARKM).

Furthermore, 15 additional AI-focused cryptocurrencies have managed to garner significant attention. For instance, PaLM AI (PALM) has seen a rise in interest due to its association with Google’s AI technologies. Other projects like 0x0.ai (0X0), a smart contract auditor, TokenFi (TOKEN) focusing on real-world assets, GameSwift (GSWIFT) for web3 gaming infrastructure, and the social trading platform Zignaly (ZIG) have also caught the market’s eye by integrating AI technology into their offerings.

Interestingly, 10 out of the 25 top AI cryptocurrencies incorporate “AI” or related abbreviations in their ticker symbols. This reflects a trend where any coin vaguely associated with AI seems to attract attention. Smaller AI coins that have capitalized on this trend with catchy tickers include Solidus AI Tech (AITECH), DeepFakeAI (FAKEAI), ChainGPT (CGPT), AIT Protocol (AIT), LayerAI (LAI), Sleepless AI (AI), and Delysium (AGI). However, an AI-related ticker has not universally guaranteed popularity, because many such tokens have not garnered significant interest.

Rounding out the list of notable yet smaller AI cryptocurrencies are Autonolas (OLAS), Oraichain (ORAI), and Clore.ai (CLORE).

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