Altcoins

Investing in AI-powered altcoins on a budget? These tokens can create a $1,000 portfolio

Published

7 months ago

10 July, 2024

The 3 Best Artificial Intelligence (AI) Altcoins to Buy, Turning $10 into $1,000 This Weekend

AI-powered altcoins are starting to gain momentum after recent developments in the artificial intelligence sector. The cryptocurrency bull run is just around the corner, and AI-powered altcoins are set to shine. Coins like Render (RNDR) have already grown so much that it’s impossible to think they can grow any further.

However, AI trends show that as AI-powered projects merge with crypto and blockchain, more value will be captured in the crypto space. Furthermore, AI is just one of the many narratives driving this market and is poised to tap into TradFi’s massive liquidity. Here are 3 AI-powered altcoins to build a $1,000 portfolio.

1. AI-powered Altcoins – Akash Network (AKT)

Akash Network is a decentralized cloud computing marketplace built using the Cosmos SDK and powered by the Cosmos IBC Hub. Besides AI, Akash has its roots in decentralized physical infrastructure networks (Of pine) and is also a Proof-of-Stake (PoS) network. This means that AKT holders can participate in the governance of the network using their tokens.

Coming back to the AI aspect of the network, Akash uses the power of artificial intelligence to create an AI hosting platform (GPU marketplace). Users can rent out their unused GPU resources to those who need them, who usually end up being AI developers.

AKT price is trading at $3.58, down 1.6% in the last 24 hours. With a market cap of $870 million, AKT is perhaps the cheapest version of Render Network, which is currently valued at $3 billion. AKT price action has just completed a double top and could be looking to start a new uptrend.

2. Rendering Network (RNDR)

Render Network is the largest AI-powered altcoin in the cryptocurrency market. Like Akash Network, Render connects artists, developers, and others in need of GPU power with those looking to rent theirs. Render is also one of the most efficient tools for rendering digital art.

Now, instead of spending thousands of dollars on expensive computers, artists, architects, and interior designers can leverage the rendering network to speed up rendering that would normally take days or even less than an hour. The AI blockchain project has partnered with Apple, which announced its plans in June 2023, and NVIDIA, the world’s leading maker of AI computer chips.

The RNDR token, which exists on the Ethereum blockchain, has seen a significant surge in price over the past year. The crypto asset hit an all-time high of $13.17 during the January-March mini-bull run before retracing. Nonetheless, the correction has been healthy and the asset is only about 50% down from its all-time high.

THE RNDR price The stock was trading at $6.59 at press time, up 2.2% in the last 24 hours. RNDR has also formed a double top pattern over the last 4 months, which could find support at around $4. This may represent a buying opportunity for investors.

3. AI-powered Altcoins – Bittensor (TAO)

Bittensor uses the same tokenomics and incentive structure as Bitcoin, using GPUs to power decentralized AI and challenge big tech. The network positions itself as the only truly viable project with a working system and strategic plan to compete with big tech companies. It is speculated that FET, OCEAN, and AGIX formed the

Artificial superintelligence alliance to rival Bittensor.

The TAO token offers staking at around 15% APR, allowing holders to buy, stake, and let their investment grow. Recently, the price of TAO took a hit due to a wallet exploit, prompting the network to enter safe mode.

TAO’s price dropped 16% after the hack was announced, dropping to $200. Bitcoin’s volatility didn’t help matters either. TAO’s price is on the rise again this week, trading at $265 during European business hours on Wednesday. That’s a 7.5% increase in the last 24 hours. Bittensor is expanding its subnets beyond the initial 32. Since each subnet has the potential to rival an entire AI company, TAO is effectively moving to offer every type of AI as a project on its network.

The TAO price chart shows support around $200, from which price action has bounced. However, the chart also appears to be forming a head and shoulders pattern, which is not typically bullish. This may cause prices to fall, potentially offering better prices to acquire this AI-powered altcoin before it rockets to the moon in the bull run.

Conclusion

AI-based altcoins are gaining traction following recent advancements in the artificial intelligence sector. Cryptocurrency bull run With these approaches, these tokens are poised to shine, capturing significant value by merging AI with blockchain technology. Among the promising AI-based altcoins, Akash Network (AKT), Render Network (RNDR), and Bittensor (TAO) stand out as viable options for building a $1,000 portfolio.

Frequently Asked Questions (FAQ)

AI-based altcoins are cryptocurrencies that leverage artificial intelligence (AI) technologies in their development, operation, or underlying infrastructure.

While AI can improve security by detecting anomalies and mitigating risks, the security of AI-powered altcoins depends on the quality of the underlying technology and the measures implemented by the development team. As with any investment, it is important to research and understand the project thoroughly.

The future of AI-powered altcoins is bright as AI technology continues to advance. These altcoins have the potential to revolutionize various aspects of the cryptocurrency market, offering smarter, safer, and more efficient solutions.

Fuente

Altcoins

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Published

6 months ago

29 July, 2024

CoinFlix Staff

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Popular crypto analyst Michael van de Poppe has highlighted his altcoin portfolio approach in light of the new Ethereum ETF. In a recent Youtube videoThe analyst explained the measures he would take for this major market event.

The Ethereum ETF was listed on the stock exchange and it took time to get approval and so far there has been no significant change in price. The analyst pointed out that the long-term effect could be quite significant, comparing it to the situation of the Bitcoin ETF where the initial decline was followed by large inflows.

According to Van de Poppe, the Ethereum ETF’s trading volume on the first day of trading was about 25% of the volume Bitcoin ETF He noted that the first day of trading was marked by low inflation, and said there was a net inflow of $150 million to $160 million, which reduced the available supply.

Altcoins are poised for growth

The analyst said that as Ethereum adoption increases in the future, the supply of Ethereum will decrease, which is a deflationary model. Ethereum is up about 15% since the ETF approval, the broader market reaction has yet to happen as several sell-offs have taken place, including the Grayscale Trust.

Van de Poppe also mentioned other important market events, including the end of Mount Gox The process of repaying creditors initially caused tensions in the markets, but had little effect subsequently. It also highlighted the role of macroeconomic factors, which can lead to Fed rate cuts, which can affect markets.

In this regard, looking at van de Poppe’s strategy, he is still keen to trade within the altcoins of the Ethereum ecosystem. He stated that there is a possibility of short-term price fluctuations that may discourage many people, but the long-term still looks good due to the improvement and adaptation that has been made to Ethereum and its environment.

According to the analyst, substantial inflows could propel Ethereum towards new historic highs with estimates ranging from $5,000 to $7,000. Despite the current market fluctuations, he is confident that macroeconomic changes and greater liquidity will be favorable for altcoins.

He explained that his broad approach to altcoins, especially those associated with Ethereum, will be beneficial because the market will react differently to these events. The basis for his optimism comes from the fact that he believes that Ethereum and all associated projects are still extremely undervalued and have the potential to skyrocket as sentiment changes.

Looking ahead and market adjustments regarding the Ethereum ETF and other macroeconomic factors, the analyst remains bullish on altcoins. He suggested investors stay informed and believe that in the ever-changing world of crypto, they will eventually be rewarded.

Fuente

Altcoins

Altcoins Are Severely Undervalued, Awaiting Ethereum Move | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

IntoTheBlock Releases Report on Institutional DeFi Trilemma

Disclaimer

Disclaimer: Blockchain.news provides content for informational purposes only. Under no circumstances shall blockchain.news be liable for any direct, indirect, incidental or consequential damages arising out of the use of, or inability to use, the information provided. This includes, but is not limited to, any loss or damage resulting from decisions made based on the content. Readers should conduct their own research and consult professionals before making any financial decisions.

Fuente

Altcoins

Altcoins Correct Amid ETH Decline, Grayscale Outflows | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

Disclaimer

Fuente

Altcoins

Epic Altcoin Rally Expected for August and September

Published

6 months ago

28 July, 2024

CoinFlix Staff

Crypto analyst predicts massive altcoin rally similar to Q1 2024, urging patience and accumulation.
Bitcoin’s potential as a reserve asset and its technical patterns suggest that it will drive the rise of the cryptocurrency market.

Captain Faibik, a renowned crypto analyst, has created excitement in the cryptocurrency sector with his latest prediction. He indicated that we are on the cusp of a massive altcoin rally, similar to the one we saw in Q1 2024.

We are on the verge of a massive Altcoin rally, similar to Q1 2024📈

Keep accumulating and hold with patience. (Patience will be rewarded)

The majority of #Altcoins have already hit rock bottom and are about to escape.

In my opinion, August-September is going to be epic for Altcoins.🚀🚀#Crypto pic.twitter.com/cMdHagiaYc

— Captain Faibik (@CryptoFaibik) July 24, 2024

Accumulating and Holding Altcoins: The Path to Potential Profits

He stressed the need to accumulate altcoins and hold them patiently, as it will eventually pay off. According to him, the majority of altcoins have already bottomed out and are about to break it. He believes August and September will be epic months for altcoins.

In a chart posted by Captain Faibik, the overall crypto market cap, excluding Bitcoin and Ether, known as TOTAL3, is approaching the upper boundary of a descending channel pattern.

This context suggests a potential breakout and a significant rally towards the $1 trillion mark. Technically, the decline since mid-March is interpreted as a corrective trend for the value of TOTAL3, signaling a preparation to enter a rally structure.

Bitcoin’s influence and legislative developments suggest good prospects for the future

Furthermore, based on sentiment and technical patterns, Bitcoin, the world’s leading cryptocurrency, appears poised to lead the charge in the cryptocurrency market. Bitcoin’s performance often sets the tone for the market as a whole, and a strong move in BTC could trigger a significant rally in altcoins.

Previously, as we have already said reportedSenator Cynthia Lummis said she plans to introduce a bill at the upcoming Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a reserve asset.

If this law passes, the US will treat BTC as a long-term investment rather than selling huge amounts infrequently, which could disrupt the market.

In addition, asset management firm VanEck has proposed a bold scenario in which Bitcoin Price Could Reach $2.9 Million Per BTC By 2050based on its fundamental outlook. Matthew Sigel, head of digital assets at VanEck, and senior investment analyst Patrick Bush noted that their estimate is based on Bitcoin’s adoption as a global medium of exchange and reserve asset.

As Bitcoin price increases, altcoins are expected to gain popularity, indicating the start of a bullish rally shortly after the BTC halving event.

Meanwhile, at the time of writing, the price of BTC was hovering around $67,007.99up 4.67% over the past 24 hours following a short-term correction.