ETH - Is Artificial Intelligence the Next Frontier for This Crypto?
2023-03-16 08:05:00 ET
While it hasn't been getting a lot of attention from investors, Cardano (CRYPTO: ADA) has been on a roll of late. It's now up 35% for the year, and has been keeping pace with market stalwarts such as Ethereum (CRYPTO: ETH) , which is up 40% for the year. Moreover, the metrics typically used to value Cardano -- such as Total Value Locked (TVL) -- are also trending up, a sign the blockchain's recent push into decentralized finance (DeFi) might be paying off.
But a potentially really exciting area of growth for Cardano is still being overlooked by investors. Ever so quietly, Cardano appears to be making a push into artificial intelligence (AI), and this could give it a huge competitive advantage against other blockchain networks that have yet to embrace the future of blockchain-based AI. A new move into AI, of course, would support a much higher valuation for Cardano.
The key to Cardano's push into AI is SingularityNET (CRYPTO: AGIX) , which is one of the standout AI crypto tokens of the year. SingularityNET is up nearly 1,000% for the year, and has galvanized investor attention thanks in large part to its track record of groundbreaking AI projects, such as the AI-powered humanoid robot Sophia.
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Is Artificial Intelligence the Next Frontier for This Crypto?