AI cryptos have been undergoing a significant cool-off recently. However, I believe investors can use this cooldown as an accumulation opportunity. AI cryptos have partaken in this recent risk-on in the entire crypto market, and they have even outperformed Bitcoin (BTC-USD) recently as the AI hype has fully spilled into the crypto sector.
We aren’t even in the so-called ‘altseason’ yet, when many altcoins outperform Bitcoin for an extended period of time. That said, many AI cryptos have already gone parabolic. I believe these AI cryptos have significantly more room to run going forward as Bitcoin dominance wanes and we get closer to the upcoming altseason. The Bitcoin halving in a few weeks could also trigger a major long-term rally, lifting the crypto market significantly.
Of course, many of these AI cryptos are tiny projects, and they don’t have many users relative to their utility yet. However, the crypto market runs on hype, and I believe this trend can be relied on for significant gains, for investors targeting high-quality projects. Let’s take a look at three AI cryptos I think are buys right now!
Zero1 Labs (DEAI-USD)
Zero1Labs’s (DEAI-USD) DEAI ticker stands for decentralized AI, and the project is all about that. Z1’s goal is creating an inclusive DeAI community, in contrast to exclusive AI silos run by most big tech firms. The project features an open DeAI platform called Keymaker, where developers can build, distribute, and monetize AI applications. Usage of these apps generates token rewards from the Zero Economic Framework. Z1 also operates 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 has only been a week since it went live on CoinMarketCap. However, the token’s price action has been very satisfactory so far, with DEAI up 154% since its launch. It’s worth noting that this is a crypto project with mediocre tokenomics, where only 9% of the token’s max supply is in circulation. Plus, one wallet holds 20% of the entire supply, while TrustSwap holds almost the entire remainder (around 70% of supply). Moreover, there has been a lot of recent selling pressure, as the DEAI token has been rejected at 80 cents multiple times.
Despite these concerns, I remain bullish on DEAI since it’s still performing better than other crypto AI projects that have declined recently.
Cortex (CTXC-USD)
Cortex (CTXC-USD) is an open-source, peer-to-peer, decentralized blockchain platform. It supports artificial intelligence (AI) models that can be uploaded and executed 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 provides me with solid conviction. However, the token’s near-term price action is more aligned with the broader crypto AI market. The CTXC token has declined from its one-month peak of $1 per token to around 46 cents as of writing. The crypto has been creeping up over the past week, so Cortex could stage a breakout once AI investors turn more bullish.
Acknowledging the risks involved here is important, as whales hold almost 99% of the token’s circulating supply. Additionally, this crypto is listed on many major exchanges like Binance, MEXC, and OKX. This could limit its upside potential compared to some crypto AI startups.
However, this project’s potential returns could trounce the stock market’s performance, given the growing interest in AI-powered decentralized applications.
Solidus AI (AITECH-USD)
Solidus AI (AITECH-USD) is another AI crypto that’s taken a breather recently. However, I believe it’s in an excellent accumulation zone for the long-run.
The crypto has been one of the more impressive performers among AI tokens, and it’s quite a new project. Solidus has constructed an environmentally friendly, cutting-edge data center spanning 8,000 square feet in a “secure European location.” In tandem with this achievement, 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 via Solidus’ platform.
I believe the project’s physical data center can drive hype in the coming months as we advance into altseason. Solidus AI could reach a market capitalization of $500 million or more if the rally continues, in my view.
On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
