AI cryptos have seen a significant slowdown recently. However, I believe investors can use this slowdown as an opportunity to accumulate. AI cryptos have participated in this recent risk-taking across the crypto market and even outperformed Bitcoin (BTC USD) recently as the AI hype has fully spilled over into the crypto sector.
We are not even in the so-called “alt season” where many altcoins outperform Bitcoin for an extended period of time. However, many AI cryptos have already gone parabolic. I believe these AI cryptos have significantly more scope in the future as Bitcoin dominance wanes and we approach the upcoming peak season. The Bitcoin halving in a few weeks could also trigger a major long-term rally and significantly boost the crypto market.
Of course, many of these AI cryptos are tiny projects that don’t yet have many users compared to their usefulness. However, there is hype in the crypto market and I believe this trend can bring significant profits for investors targeting high-quality projects. Let’s take a look at three AI cryptos that I think are currently available for purchase!
Zero1 Labs (DEAI-USD)
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Zero1Labs (DEAI-USD) DEAI-Ticker stands for decentralized AI, and that’s exactly what the project is about. Z1’s goal is to create an inclusive DeAI community, as opposed to exclusive AI silos operated by most major tech companies. The project includes an open DeAI platform called Keymaker where developers can create, distribute and monetize AI applications. Using these apps generates token rewards from the Zero Economic Framework. Z1 also runs a Zero Construct Program incubator to support promising open source DeAI projects with grants and other benefits.
This crypto token is one of the newer ones as it only went live a week ago CoinMarketCap. However, the token’s price performance has been very satisfactory so far, with DEAI increasing by 154% since its launch. It is worth noting that this is a crypto project with mediocre tokenomics, with only 9% of the maximum token supply in circulation. Additionally, a wallet holds 20% of the total supply, while TrustSwap holds almost all of the rest (around 70% of the supply). Additionally, there has been a lot of selling pressure recently as the DEAI token was rejected multiple times at 80 cents.
Despite these concerns, I remain bullish on DEAI as it is still performing better than other crypto AI projects that have declined recently.
Cortex (CTXC-USD)
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cortex (CTXC-USD) is an open-source, decentralized, peer-to-peer blockchain platform. It supports artificial intelligence (AI) Models that can be uploaded and run on the distributed network.
This is one of the older crypto projects in the AI space and it has stood the test of time, which fully convinces me. However, the token’s short-term price performance is more in line with the broader crypto AI market. The CTXC token has fallen from its one-month high of $1 per token to around 46 cents at the time of writing. The cryptocurrency has been creeping higher over the past week, so Cortex could see a breakout once AI investors become more bullish.
It is important to acknowledge the risks involved Whales hold almost 99% of the token’s circulating supply. Additionally, this cryptocurrency is listed on many major exchanges such as Binance, MEXC and OKX. This could limit its upside potential compared to some crypto AI startups.
However, the potential returns from this project could weigh on the performance of the stock market given the growing interest in AI-powered decentralized applications.
Solidus AI (AITECH-USD)
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Solidus AI (AITECH USD) is another AI cryptocurrency that has recently taken a breather. However, I believe it is in an excellent accumulation zone over the long term.
The cryptocurrency is one of the most impressive AI tokens and is a fairly new project. Solidus has developed an environmentally friendly and state-of-the-art design Data center with an area of 8,000 square meters in a “safe European location”. In parallel with this success, Solidus uses AITECH, “the world’s first deflationary artificial intelligence token.” AITECH can be used to facilitate payments for AI as a Service, Blockchain as a Service and Infrastructure as a Service through Solidus’ platform.
I believe the project’s physical data center can make a splash in the coming months as we move into peak season. In my view, Solidus AI could reach a market cap of $500 million or more if the rally continues.
At the time of publication, Omor Ibne Ehsan did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publication policies.