Altcoin
Top 3 AI-Based Altcoins to Buy for Quick 50X Profits
Artificial intelligence (TO THE), which gained momentum in late 2023, has continued to strengthen throughout 2024. AI-powered cryptocurrencies, such as Fetch.ai (FET), have risen nearly 10x and are expected to grow further. Other altcoins to buy, such as Render (RNDR) and SingularityNET (AGIX), have also seen double-digit gains over the past 30 days.
Recent advances in artificial intelligence, including the introduction of AI agents and operating systems, are poised to ignite new interest in AI-powered cryptocurrencies. In the meantime, NVIDIAthe world’s largest chipmaker, reported a staggering $14 billion profit in the first quarter of 2024, underscoring significant demand for AI chips.
1. Fetch.ai (FET)
Recover.ai is an AI-powered decentralized protocol that allows developers to create AI platforms and services for deploying and scaling AI tools.
One of the most anticipated market moves by Fetch.ai is its merger with SingularityNET and Ocean Protocol, scheduled for May 24, 2024. The merger will result in a new token called Artificial Superintelligence (ASI). As a result, FET will become ASI, while OCEAN and AGIX will migrate to ASI with a conversion rate of 0.433:1, making it a brilliant altcoin to buy.
Following the announcement on March 3, 2024, the price of FET recorded a 90.36% increase in the following week, signaling increased interest from investors.
Fetch.ai FET Chart | TradingView
THE FET Price at the time of writing it is $2.37, representing a decrease of 4.6% over the last 24 hours and an increase of 7.3% over the last 7 days. After a small pullback from the $2.60 level, Fetch.ai price action is holding well above the 200-day simple moving average (SMA).
FET’s merger with AGIX and OCEAN offers a good arbitrage opportunity for investors if they buy before the migration.
2. Rendering (RNDR)
Render is the market leader in the crypto-AI sector. Its platform provides decentralized GPU rendering services, generating revenue by renting GPU power to tech companies.
With a market capitalization of $3.9 billion, Render is up 13.5% over the past 30 days. One of the most important and recent developments in the Render ecosystem is the recent OctaneX feature in the Apple iPad keynote presentation.
According to “Solana DePIN snapshot: H1 2024“ On-chain data company report The other side of the coinRender is one of the biggest drivers of the decentralized physical infrastructure (DePIN) ecosystem on Solana.
RNDR graphic render | TradingView
RNDR price it has been in a consolidation zone, which is part of a larger bullish flag. Currently, the asset is at the bottom of the range, which gives investors the opportunity to make a 19% profit on a return to the upper limit of the range.
The 200-day SMA offers strong support for RNDR, increasing the likelihood of a price rebound.
Overall resistance for RNDR currently sits at the $10.57 and $11.66 levels. Above this, the price of Render can go up to $17 per token, making it one of the best altcoins to buy.
3. SingularityNET (AGIX)
SingularityNET is a decentralized AI platform created to make artificial general intelligence (AGI) democratic and accessible to anyone. The crypto-AI project will merge with Ocean Protocol and Fetch.ai to form the new artificial superintelligence (ASI) token.
The AGIX token will cease to exist and migrate to the ASI token, offering investors a lucrative opportunity to make profits.
According to the official merger announcement, ASI will have a total supply of 2.6 billion tokens and a market capitalization of $7.5 billion. Investors can make at least 1.27 times their investment.
SingularityNET Price Chart | TradingView
The price of AGIX at the time of writing this article is $0.964, which represents an increase of 7.9% over the last 7 days.
THE SingularityNET Price the stock displays an ascending triangle on the daily time frame, which means a breakout is imminent. The price of AGIX could increase as the launch of the ASI token approaches.
Bottom line
The crypto-AI industry is chock-full of cryptocurrencies to buy. AGIX, FET and RNDR are just some of the most interesting at the moment. Before choosing an altcoin to buy it is a good idea to do some due diligence. The FET-OCEAN-AGIX merger represents a great arbitrage opportunity for holders of any of these tokens. On the other hand, long-term bond holders should prepare for potential massive gains.
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