At the beginning of this year AI crypto projects had a strong move to the upside. As the crypto bull market starts to move into gear, the AI niche is beginning a run.
According to renowned macro analyst Raoul Pal, the two sectors with the biggest growth potential for the coming years are technology (AI), and crypto. Both are already outperforming the stock market, with the tech heavy Nasdaq up 37%, compared to the S&P 500 at 19%, while the total crypto market cap is up 86% - all for this year.
However, combine both AI and crypto, giving much more flexibility and room for development, and one has a match made in heaven. Several AI projects have made their home in the cryptoverse, so let’s have a look at the price action of a few of the current top performers.
SingularityNet (AGIX)
Source: Trading View
Over the period of the last month $AGIX has put on an impressive 100%. An initial burst from the double bottom of 20 October was followed by some sideways consolidation, before the thrust upwards that is currently being experienced. Resistance is at around $0.33, and the 0.618 fibonacci is at $0.42.
Source: Trading View
Fetch.AI (FET)
$FET played second fiddle to $AGIX in the last big AI pump from the beginning of this year with 900% gains compared to the $AGIX 1400%. However, this time around the $FET price has increased 175% compared to $AGIX 100%.
$FET is currently approaching that last top set in early February. A double top is a possibility, but if $FET can consolidate above, there could be a whole lot more to come.
Source: Trading View
Vectorspace AI (VXV)
With a market cap of just below $22 million, $VXV is certainly nowhere near the scale of the SingularityAI market cap of nearly $400 million. However, having really plumbed the depths in the last bear market by going from $25 to $0.20, $VXV is starting to move up at a more rapid rate.
The $VXV price is up 250% over the same period as for $AGIX and $FET, and it looks as though there might be a lot more in the tank, obviously depending on whether Vectorspace can take advantage of its collaborations with Oracle and Nvidia.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
