Artificial intelligence (AI) was introduced on a large scale in 2024, and its applications have rapidly expanded to all sectors. This emerging technology has been introduced to cryptocurrencies, offering investors an innovative combination of AI-powered solutions and the decentralized infrastructure of blockchain. This integration provides AI altcoins with strong growth potential and innovative use cases.
3 AI Altcoins Poised to Gain 5x as Sector Growth Accelerates
According to Artemis, artificial intelligence (AI) dominated the cryptocurrency sector with a massive 35.1% rise over the past month. Ignoring the September correction, the continued growth of AI altcoins will lead to a long-term rally in Q4, which is typically a bullish situation for the overall market. Below are the top AI cryptos priced at 5x as their performance far outperforms other sectors.
Bitensor (TAO)
Bittensor (TAO) is a decentralized network focused on artificial intelligence (AI), specifically aimed at creating an open source decentralized marketplace for machine learning models. Over the past five weeks, TAO price has shown a significant recovery from $220 to $640, marking a 190% growth.
Over the same period, TAO's future open interest rebounded from $49 million to $224.2 million, an increase of 357%. This spike indicates increased investor activity in anticipation of increased momentum in the asset.
Among other AI altcoins, Bittensor price is just one resistance ($675) away from surpassing the all-time high of $767.8.
Alliance of Artificial Superintelligence (FET)
The Artificial Superintelligence Alliance (ASI) is involved in the merger of Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) with the aim of creating a unified, decentralized AI ecosystem. These AI altcoins are tracked by the FET ticker and are currently trading at $1.4, giving them a market cap of $3.58 billion.
According to Santiment data, the 30-day market capitalization to realized capital ratio (MVRV) has plummeted to -14%, indicating that short-term investors are incurring losses. These speculative trades often scare people out of the market and attract long-term buyers to foster a sustained recovery.
Therefore, FET price is poised to break through the $1.7 resistance level, which could signal a major reversal up.
Rendering (RENDER)
Render is a decentralized cloud computing network that allows users to share and monetize idle GPU power. Unlike other altcoins, Lender price has been stuck in a sideways movement for over 100 days, waiting for the right breakout to fuel the next rally.
At the time of writing, Lender Price was trading at $5.22, rising to $2.76 billion. Since March 2024, the asset is 13% away from challenging the downtrend line intact. A potential breakout would mark the end of the corrective trend and push Lendercoin above $10.
Additionally, the supply ratio of top addresses has been steadily increasing, currently reaching 74.3%. Accumulation by key stakeholders suggests strong belief in the long-term potential of the asset.
Conclusion:
Altcoins such as Bittensor, Artificial Superintelligence Alliance, and Render are poised for strong gains in Q4 amid whale accumulation and future derivatives market growth.
Frequently asked questions (FAQ)
Top AI altcoins poised for a 5x breakout are Bittensor (TAO), Artificial Superintelligence Alliance (FET), and Render (RENDER), driven by strong sectoral performance and on-chain growth is.
RENDER has been stable for over 100 days, but increasing accumulation by top addresses (currently 74.3% of supply) is expected to cause the coin to challenge the downtrend line
Over the past five weeks, Bittensor (TAO) has shown significant growth, rising from $220 to $640, an increase of 190%.
Sahil Mahadik
Sahil is a dedicated full-time trader with over 3 years of experience in financial markets. He has a strong grasp of technical analysis and keeps a close eye on daily price movements of top assets and indices. Drawn by his fascination with financial products, Sahil enthusiastically embraced the emerging field of cryptocurrencies, where his passion for trading continues to explore opportunities.
Disclaimer: The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
✓ Share: