The use of artificial intelligence (AI) technology is growing in a number of industries, including blockchain. Among its many uses in blockchain are security improvement, smart contract optimization, mining efficiency improvement, trading automation, fraud detection, data management, user experience personalization, and regulatory compliance. Market players hoping to profit from these new technologies may want to consider purchasing altcoins such as Render (RNDR), the Graph (GRT), and SingularityNET (AGIX).
Altcoins-Render
Built on the Ethereum blockchain, Render (RNDR) is a decentralized GPU rendering network that offers rendering services that are both economical and effective for digital creators by utilizing idle computing power from GPUs all over the world.
The Render coin has seen some of the biggest gains thus far in May. The altcoin recently bounced back from the $8.65 support level and increased by more than 65.75% to hit $11.3. The Render coin’s market value increased to $4.38 billion as a result of this surge, guaranteeing its place among the top 25 cryptocurrencies.
The price of RNDR decisively broke above the double bottom pattern’s $10.49 neckline on Thursday. The buyers may propel a rally above $20 if the reversal pattern holds.
Graph
A decentralized protocol called The Graph (GRT) is designed to index and query data from blockchains, starting with Ethereum. It enables programmers to create serverless apps that are solely blockchain-based.
The price of GRT demonstrated remarkable resilience above the $0.22 support even during the current market correction. forming a local bottom as a result of this support, which has increased altcoin’s value by 38.4% to $0.305.
The Graph token has a market cap of $2.86 billion as of the time of publication, and its trading value has increased by 79% to $177 million since yesterday.
The GRT price was supported for a bullish breakout from a downsloping trendline that has been carrying a correction trend for the last two months by the recent jump.
Maintaining this breakout will indicate a shift in the dynamics of the market, paving the way for a rally above $0.5.
SingularityNET
A decentralized platform called SingularityNET (AGIX) seeks to make it easier to create, share, and profit from artificial intelligence services on a large scale.
The formation of a triangle pattern has been indicated by the AGIX price moving within two converging trendlines for more than a month. This pattern is known to provide a directional rally upon the breakout of either trendline, even though starting the chart’s development may convey uncertainty.
With a market capitalization of $1.24 billion, the SingularityNET coin is presently trading at $0.967. The prevailing rally may resume and break above the $1.45 high if there is a possible breakout from the overhead pattern’s overhead trendline.
Also Read
The price of Bitcoin jumped to a record 72 thousand dollars
