3 AI Altcoins Set to 5X as Sector Leads Crypto Growth Surge

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As a seasoned researcher with a decade of experience in the ever-evolving world of cryptocurrencies and artificial intelligence, I find myself intrigued by the potential of these three AI altcoins – Bittensor (TAO), Artificial Superintelligence Alliance (FET), and Render (RENDER).

2024 saw a significant surge in the adoption of Artificial Intelligence (AI), as its applications swiftly extended to various industries. Intriguingly, this groundbreaking technology penetrated the realm of cryptocurrency, presenting investors with a novel mix of AI-driven functionalities and the decentralized framework of blockchain. This fusion offers promising growth prospects and revolutionary use cases for AI-based altcoins.

3 AI Altcoins Poised for 5X Gains as Sector Growth Accelerates

As a researcher delving into the fascinating world of cryptocurrencies, I’ve noticed an intriguing trend: Artificial Intelligence (AI) altcoins have experienced a significant surge of approximately 35.1% over the past month. Bucking the usual September correction, this sustained growth positions AI cryptos for a prolonged rally in Q4, which could be bullish news for the broader market. Notably, these top AI cryptos are primed to multiply their value by five times, outperforming other sectors remarkably.

Bittensor(TAO)

Bittensor’s TAO operates as a distributed platform concentrating on artificial intelligence (AI). Its main objective is to establish an open-source, decentralized marketplace for machine learning models. Over the past five weeks, there has been a substantial increase in the TAO price, climbing from $220 to $640, which represents a 190% growth rate.

During that timeframe, the anticipated open interest of TAO surged from $49 million to an impressive $224.2 million – a significant leap of 357%. This substantial rise suggests increased investor enthusiasm and expectation for a stronger pace in the asset’s growth.

Regarding various AI-related cryptocurrencies, the price of Bittensor is just shy of breaking through a key resistance level at $675, which could propel it past its all-time high of $767.8.

Artificial Superintelligence Alliance (FET)

The Artificial Superintelligence Alliance (ASI) – which brings together Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) – is working towards establishing a single, decentralized AI environment. At present, these AI-related cryptocurrencies can be followed using the FET ticker symbol, with the current trading price at approximately $1.40 and a total market capitalization of around 3.58 Billion dollars.

Based on Santiment’s data, the 30-day Market Cap to Realized Cap Ratio (MVRV) dropped by 14%, suggesting that short-term investors are currently experiencing losses. This type of speculative trading tends to panic and leave the market, which can then encourage long-term investors to step in, potentially fueling a prolonged recovery.

Thus, the FET price poised for a $1.7 resistance breakout could signal a major reversal rally.

Render (RENDER)

Render is a distributed computing platform where individuals can lend out their unused graphics processing unit (GPU) resources for financial gain. Unlike other alternative cryptocurrencies, the value of RENDER has been moving horizontally for more than 100 days, seeking a strong enough movement to initiate the next upward trend.

By deadline, the price of Render had reached $5.22, equating to approximately $2.76 billion. Since March 2024, this asset has been about 13% from testing a descending trendline. A potential breakout could indicate the end of the correction phase and propel the Render token beyond $10.

Moreover, it’s worth noting that a significant portion (74.3%) of the supply is controlled by leading wallets, indicating a growing confidence among major players in the asset’s future value.

Conclusion: 

In the fourth quarter, it’s expected that digital currencies like Bittensor, Artificial Superintelligence Alliance, and Render will experience a significant surge due to large investors (whales) amassing these assets and an increase in the development of futures contracts.

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2024-10-13 18:38