AI coins have resurfaced as one of crypto’s top-performing asset classes today, with projects like Fetch.ai and Injective booking solid gains. Meanwhile, the new presale AI project WienerAI is also showing bullish momentum, with its total raise approaching $6 million.
The crypto market has found its footing after a week of selling pressure, providing AI coins with bullish momentum.
Following Fed chair Jerome Powell’s enlightening words at Wednesday’s FOMC meeting, the crypto market has seen a 0.4% uptick.
However, all eyes are on AI cryptocurrencies, with CoinMarketCap reporting the sector’s valuation has jumped by 3.3% today.
This comes as chip manufacturer Nvidia continues to gain pace in the stock market. It is currently trading at an all-time high (ATH) and up 38.5% this month.
AI agent-focused cryptocurrency Fetch.ai has enjoyed a 6% rise today, recovering some losses from the recent market-wide selloff.
Meanwhile, the DeFi-focused blockchain, Injective Protocol, which leans on AI to improve market efficiency and optimize decision-making processes, has posted a 12% gain today.
Injective has remained sheltered from crypto’s recent selloff, up 34% this month.
Other large-cap AI cryptocurrencies have also made strong gains today. Currently, Render is up 6%, Bittensor is up 6%, and SingularityNET is up 4%.
In a recent analysis, Crypto Vikings predicted that Fetch.ai will continue to trend upward, noting it is approximately 50% of its ATH, which presents good value for new buyers.
In reply to a comment on the tweet, the analyst suggested Fetch.ai could see up to 20x gains this cycle.
Moving to Injective, Altcoin Miyagi hailed it as having “one of the most bullish charts in crypto right now” and suggests it is going “so much higher.”
Indeed, the outsized performance of AI coins against other cryptocurrencies reflects the unwavering interest in AI technology, which has been ramping up since the launch of OpenAI’s ChatGPT in 2022.
With that, new AI cryptocurrencies like WienerAI have a favourable launch environment thanks to their low valuations in a rapidly growing sector.
While tapping into the enthralling market dynamics of AI cryptocurrencies, WienerAI also holds exposure to the meme coin niche, with its AI technology masked behind a dog-themed facade.
This juncture has drawn significant attention to the project, enabling its presale to skyrocket in notoriety.
WienerAI’s central proposition is an AI-enhanced trading bot that helps users make better trading decisions.
They can ask questions or outline criteria, and the bot will scour the market for the best trading opportunities.
And it doesn’t stop there. Once it finds a suitable cryptocurrency, users can take advantage of its instant, fee-free, MEV-resistant, and noob-friendly trade execution. This means no more long wait times or getting front-run by MEV bots when buying crypto on-chain.
Leading analysts have rallied behind this cutting-edge use case, with the Crypto News YouTube channel suggesting that it has 100x potential.
The project also offers a staking layer that rewards users for locking up their tokens. They can currently earn a 201% APY, but this will decrease as the staking pool grows.
At the same time, the WienerAI presale price will gradually increase throughout the campaign.
With that in mind, prospective investors would be well-suited to get in as early as possible and secure the most value.
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