Altcoins
The 3 Best Artificial Intelligence (AI) Altcoins to Buy, Turning $10 into $1,000 This Weekend
Artificial intelligence (AI) continues to expand its utility in several segments, including blockchain. AI is used in blockchain to strengthen security, optimize smart contracts, improve mining efficiency, automate trading, detect fraud, manage data, personalize user experience, and ensure regulatory compliance, among other things . Market participants looking to capitalize on these emerging technologies can consider purchasing Altcoins like Give back (RNDR), Graph (GRT) and SingularityNET (AGIX).
Read also: 4 AI-powered Altcoins Surpassing Bitcoin, Ethereum, and XRP in 2024
1) Altcoins to buy – Rendered (RNDR)
Give back (RNDR) is a decentralized GPU rendering network built on the Ethereum blockchain that leverages the unused computing power of GPUs around the world to provide digital creators with efficient and cost-effective rendering services.
Rendered (RNDR)| Commercial view
So far during the month of May, the Render coin has been among the biggest gainers. The altcoin recently rebounded from the $8.65 support and surged over 65.75% to reach the $11.3 mark. This rally pushed the market cap of Render coin to $4.38 billion, securing its position among the top 25 cryptocurrencies.
Thursday, the RNDR price gave a decisive breakout from the $10.49 neckline of the double bottom pattern. If the reversal trend continues, buyers could cause a rally beyond $20.
Read also: Rendering price prediction: what awaits the RNDR after a weekly increase of 50%
2) Chart (GRT)
The Graph (GRT) is a decentralized protocol for indexing and querying blockchain data, starting with Ethereum. It allows developers to create serverless applications that run entirely on the blockchain.
Chart (GRT)| Commercial view
Amid the current market correction, the GRT price showed notable resilience above the $0.22 support. The development of a local bottom through this support has propelled the altcoin by 38.4% to currently trade at $0.305.
At press time, the Graph token holds a market capitalization of $2.86 billion, while the trading value jumped 79% since yesterday to $177 million.
This recent jump has strengthened the GRT price for a bullish breakout of a descending trendline that has been in a correction trend for the past two months.
Sustaining this breakout will signal a change in market dynamics, paving the way for a rally beyond $0.5.
Read also: Elon Musk xAI funding: AI startup targets $18 billion valuation this week, rivaling OpenAI
3) SingularitéNET (AGIX)
SingularityNET (AGIX) is a decentralized platform that aims to facilitate the creation, sharing and monetization of artificial intelligence services at scale.
SingularityNET (AGIX)| Commercial view
For more than a month, the AGIX price has resonated within two converging trend lines indicating the formation of a triangular pattern. Although initiating chart development can project uncertainty, this setup is known to give a directional rally upon the breakout of either trendline.
SingularityNET coin is currently trading at $0.967, with a market cap of $1.24 billion. A potential breakout of the overhead trendline of the overhead pattern will signal the resumption of the current rally which could break above the $1.45 high.
Key to remember
The crypto market is experiencing a post-Bitcoin halving correction, a phenomenon known as the last pullback before the expected one, as it eliminates weak hands from the market. The correction could present a great opportunity to re-accumulate your favorite cryptocurrency at a discounted price.
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