Artificial intelligence (AI) technology continues to expand its utility across several segments, including blockchain. AI is used in blockchain to enhance security, optimize smart contracts, improve mining efficiency, automate transactions, detect fraud, manage data, personalize the user experience, ensure regulatory compliance, and more. Market participants looking to take advantage of these emerging technologies can consider purchasing altcoins such as Render (RNDR), Graph (GRT), and Singularity NET (AGIX).
Also read: 4 AI-based altcoins to outperform Bitcoin, Ethereum, and XRP in 2024
1) Altcoin to buy – Render (RNDR)
Render (RNDR) is a decentralized GPU rendering network built on the Ethereum blockchain that leverages the idle computing power of GPUs around the world to provide efficient and cost-effective rendering services to digital creators. Offers.
So far in May, Lendercoin has been one of the biggest gainers. The altcoin recently rebounded from the $8.65 support and gained over 65.75% to reach the $11.3 level. This rise pushed Lendercoin’s market capitalization to $4.38 billion, securing its place among the top 25 cryptocurrencies.
On Thursday, RNDR price decisively broke through the neckline of the double bottom pattern at $10.49. If the reversal pattern holds, buyers could see a rally above $20.
Also Read: Rendering Price Prediction: What to Expect for RNDR After 50% Weekly Rise
2) Graph (GRT)
Graph (GRT) is a decentralized protocol for indexing and querying data on blockchains starting with Ethereum. This allows developers to build serverless applications that run entirely on the blockchain.
Amid the current market correction, GRT price has shown remarkable resilience above the support at $0.22. With this support, the altcoin has gained 38.4% and is currently trading at the $0.305 level.
As of this writing, the Graph token has a market capitalization of $2.86 billion, but trading volume since yesterday has surged 79% to $177 million.
This recent rally has strengthened GRT price toward a bullish breakout from the downtrend line, which has been in a correction trend for the past two months.
Holding this breakout would indicate a change in market dynamics and set the stage for a rally above $0.5.
Also read: Elon Musk xAI funding: AI startup targets $18 billion valuation this week to match OpenAI
3) SingularityNET (AGIX)
SingularityNET (AGIX) is a decentralized platform designed to facilitate the creation, sharing, and monetization of artificial intelligence services at scale.
For more than a month, AGIX price has been resonating within two converging trend lines indicating the formation of a triangular pattern. Although uncertainty can be expected as the chart begins to develop, this pattern is known to result in directional gains upon a breakout of either trend line.
SingularityNET coin is currently trading at $0.967 and has a market cap of $1.24 billion. A possible breakout from the overhead pattern's overhead trendline would signal a resumption of the prevailing bull market with a possible break above the $1.45 high.
Important points
Cryptocurrency markets are experiencing a post-Bitcoin halving correction, a phenomenon known as the last pullback before expected as weak hands are removed from the market. This correction could be a great opportunity to re-accumulate your favorite cryptocurrencies at a discounted price.
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