Artificial Intelligence (AI) witnessed a massive adoption in 2024, with its utility rapidly expanding to every sector. The emerging technology found its way into cryptocurrency, offering investors an innovative blend of AI-powered solutions and blockchain’s decentralized infrastructure. This integration provides AI altcoins with strong growth potential and revolutionary use cases.
3 AI Altcoins Poised for 5X Gains as Sector Growth Accelerates
According to Artemis, Artificial Intelligence (AI) dominated the crypto sector with a substantial 35.1% surge over the past month. Defying the September month correction, the sustained growth in AI altcoins positions them for a prolonged rally in Q4, typically bullish for the broader market. Below are top AI cryptos set to 5X as their performance far outpaces other sectors.
Bittensor(TAO)
Bittensor (TAO) is a decentralized network focused on artificial intelligence (AI), specifically aiming to create an open-source, decentralized marketplace for machine learning models. In the last five weeks, the TAO price showed a significant recovery from $220 to $640, recording 190% growth.
In the same period, the TAO’s future open interest rallied from $49 Million to $224.2 Million— a 357% increase. This spike indicates heightened investor activity in anticipation of a higher momentum in the asset.
Among other AI altcoins, the Bittensor price is one resistance ($675) breakout away from surpassing the all time high of $767.8.
Artificial Superintelligence Alliance (FET)
The Artificial Superintelligence Alliance (ASI), involving a merger of Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN), aims to create a unified decentralized AI ecosystem. These AI altcoins are tracked under the FET ticker, currently trading at $1.4 and holding a market cap of $3.58 Billion.
According to Santiment data, the 30-day Market Cap to Realized Cap Ratio (MVRV) plunged to -14%, indicating that short-term investors are at a loss. These speculative trades often exit the market in fear and attract long-term buyers to fuel a sustained recovery.
Thus, the FET price poised for a $1.7 resistance breakout could signal a major reversal rally.
Render (RENDER)
Render is a decentralized cloud computing network that allows users to share and monetize their idle GPU power. Unlike other Al Altcoins, the RENDER price has been trapped in sideways activity for over 100 days, waiting for a suitable breakout to fuel the next rally.
By press time, the Render price had traded at $5.22, boosting to $2.76 billion. The asset has been 13% away from challenging a downsloping trendline intact since March 2024. A potential breakout will signal the end-of-correction trend and drive the Render coin past $10.
Additionally, the percentage of supply held by top addresses has been steadily increasing, now reaching 74.3%. The accumulation by key stakeholders suggests a strong belief in the asset’s long-term potential.
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