Recently, artificial intelligence-oriented coin projects have been attracting attention. The price of artificial intelligence (AI) crypto breaks has skyrocketed this week. Meanwhile, a popular cryptocurrency strategist is expressing bullish sentiment about an Ethereum (ETH)-based altcoin. Here are the details…
Analyst on the rise for artificial intelligence coin project
The anonymous host of the InvestAnswers channel tells 441,000 YouTube subscribers in a new video that blockchain data indexing protocol The Graph (GRT) is largely the dominant search engine of decentralized networks. According to the analyst, GRT caught his attention about two years ago. Because he states that the project is the Google of Blockchain. Given Web3’s need for transparency, he suggests The Graph is one of the standout coins.
According to InvestAnswers server, The Graph could rise by about 521 percent from current levels in the upcoming bull season. “I believe The Graph can exceed $1 for its next bull run. And remember, this can start in six months, 14 months or a year and a half from now.” He believes that the current price will increase 7 times to exceed $1. He says that this is risky, but the reward will come only with such a project.
However, the InvestAnswers server says that investors should avoid investing their money in the Blockchain data indexing protocol relying on FOMO. The Graph has risen over 200 percent since November 2022, when it hit an all-time low of $0.052. The analyst used expressions for GRT, which showed a 3-fold rise in a short time, “returns to enthusiasm, as all other cryptos do.”
The field of artificial intelligence is gaining momentum: Is it overrated?
AI-related cryptocurrencies are also being hit by excitement and investor sentiment, as the growing popularity of AI and AI-related products, such as the release of OpenAI’s ChatGPT language model, has generated excitement and interest in the AI industry. AI cryptos reached a market cap of $4.27 billion, up 56 percent from last week. While this is only 0.4 percent of the $1.07 trillion cryptocurrency market, the rapid rise has drawn attention to the role of artificial intelligence in cryptocurrencies.
“Artificial intelligence is still a very new field, definitions are still being created, and the true utility of tokens in AI applications has yet to be tested,” says Noelle Acheson, former head of research at Genesis Trading and CoinDesk. Juan Leon, a crypto researcher at Bitwise Investments, says that crypto markets are often powered by current trends. Without proper investment and development in projects, AI cryptos risk becoming another fad in an industry fueled by hyperbole.
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