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The recent crypto market correction has accelerated recently, and not many investors are currently looking for cryptos to buy. I don’t think that’s anything to worry about. Bitcoin (BTC USD) fell nearly 20% several times during corrections in previous bull market rallies, but managed to recover in the following weeks. This resilience is a hallmark of the world’s largest cryptocurrency and it has survived multiple market cycles unscathed.
Of course, the current bull market is different as it was triggered more by the approval of spot ETFs and Bitcoin’s market cap is currently much higher. However, I strongly believe that Bitcoin could break $100,000 this year or early next year. One cannot ignore the historical patterns. Historically, Bitcoin did not rise immediately after the halving. Instead, momentum builds after the halving before a supply shortage pushes Bitcoin higher. I expect something similar to happen this year, especially when interest rate cuts begin. The stage appears to be set for Bitcoin to enter the next phase of the rally.
Therefore, I think it is a smart idea to invest some money in cryptos with high potential before the next surge.
HashAI (HASHAI-USD)
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HashAI (HASHAI USD) is a new AI crypto project that stands out from the crowd. What’s special about this crypto project is that the project itself has physical GPUs. HashAI has one Mining facility with over 500 top GPUs. The project has developed a mining algorithm that maximizes hashing power by selecting and mining the most efficient coins on L1 blockchains in real time. The project also includes mining rig supplies, rig hosting and GPU sales.
I believe HashAI still has significant potential as its value may exceed $1 billion once peak season begins. AI-related projects have been in high demand lately, especially those that have a physical component. However, this GPU project is different from those like that Render tokens (RNDR USD). It essentially uses AI and GPU computing to maximize mining efficiency.
Traditional mining operations typically focus on a coin with the best average long-term return over time. HashAI claims its AI-based process is much more efficient, which could lead to greater profitability and profits for investors over time.
Golem (GLM-USD)
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Golem (GLM-USD) is a crypto project very similar to Render Token. However, instead of focusing solely on GPU performance, it focuses more on data processing in general. The project provides computing power to the AI industry. Golem enables tasks to be broken down into smaller subtasks and distributed across multiple providers, enabling parallel processing. This approach increases efficiency and speeds up the execution of complex calculations.
Golem’s market cap is much lower at $445 million. I think it could easily be worth $1 billion or more in the next few months, especially if GPU and computing projects gain more buzz. OpenAIs Sora’s text-to-video model has generated a lot of demand and interest in computing projects, so I strongly believe that companies like Golem will increase significantly in value after its release.
What makes me most optimistic about Golem is the fact that the inflation rate is much lower than competitors like the Render token. It is also decentralized and open source, which could lead to widespread adoption.
Storj (STORJ-USD)
Source: storj.io
Storj (STORJ-USD) is similar to Golem in that it is a peer to a much larger project in the data storage space. Storj’s biggest competitor is Filecoin (FIL-USD), but I still think Storj is a much better choice at the moment. Filecoin has one Market cap of $3.3 billion, with a model focused on allowing users to store and secure data on the blockchain. On the other hand, you can do the same with Storj. It also features a decentralized network that allows users to lend their storage capacity in exchange for STORJ tokens, which can then be purchased by other users on the network.
The difference is that Storj has one Market cap of just $220 million and much lower inflation. Due to its large market cap and high market cap, Filecoin is unlikely to make big gains from here Inflation rate, which is currently 30% per year. This inflation sometimes rises quickly to 50% or more. On the other hand, Inflation in Storj is only 0.51% per year.
Of course, Storj may not be as well-known or have as many features as Filecoin yet, but that just means there is more room for growth in the future. The project’s lower market capitalization (and inflation rate) could make Storj the shadow horse in the data storage competition. In my opinion, it is definitely one of the best data-focused crypto projects available to buy right now.
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.