The crypto market saw a major correction despite the Federal Reserve pausing interest rate hikes. With the move already priced in, the global crypto cap shrank by 3% in a span of 24 hours. The SingularityNET token also took a major hit, slipping over 8% in 24 hours.
Despite AGIX’s struggles, several new AI-based tokens are showing promising momentum. The yPredict AI analytics platform continues to surge through its presale, with the token raising over $2.3 million. Meanwhile, AI-powered meme generation token AiDoge is also backed for big things, with it set to launch on exchanges on the 19th of June.
SingularityNET Price Buckles Under Extreme Market Bearishness, When Can It Bounce Back?
SingularityNET (AGIX) has made a name for itself for being one of the top AI-powered crypto projects. The project seeks to build a decentralized artificial intelligence marketplace where users can build their own AI projects and monetize them. It also has a bold vision of building its own Artificial General Intelligence, an advanced model capable of performing any intellectual task a human brain can.
Nevertheless, the project’s high utility is not enough to combat the enormous selling pressure in the crypto market. The Federal Reserve announced a pause in interest rate hikes in light of cooling inflation levels. However, this decision was widely expected and likely already priced in.
Despite pausing the hikes for now, Fed chair Jerome Powell mentioned the likelihood of two more hikes before the year ends. The market reacted poorly to this hawkish sentiment, with Bitcoin falling below the $25k level. The altcoins mirrored BTC’s price movement, with Ethereum correcting over 6% in a span of a few hours.
The AGIX price also fell over 8% in the last 24 hours and is currently trading at $0.189.
Furthermore, troubles with Circle’s USDT stablecoin are reminding the crypto market of the horrible Terra Luna crash. An on-chain data firm LookOnChain revealed that USDT is depegging and major whales are looking to short the token. If the Tether coin indeed goes the Terra route, the crypto market can once again enter a long crypto winter.
The SEC’s lawsuit against Binance and Coinbase remains the overarching narrative of the crypto market. While experts are expecting a long and tedious legal battle, the SEC’s hawkish stance has made investors wary of investing in tokens like SingularityNET.
TradingView, a technical analysis platform, gives a Sell signal to AGIX in the 24-hour time frame. The token is underperforming with 13 out of the 15 most important moving averages. Therefore, investors can likely expect more selling pressure throughout the month of June.
Which AI Coins Are Rising?
In the current crypto bear market, high utility and real-world use cases can be the difference between a sustained bull rally and meaningless price swings. Artificial intelligence and blockchain are the two most futuristic technologies that can be combined to revolutionize various industries, thus providing high real-world value.
Tech giant IBM states that the convergence of blockchain and AI will bring new value to businesses in the fields of healthcare, life sciences, financial services, and supply chain. Experts also believe that combining the two technologies will reduce the risk associated with both.
Crypto investors are already inspired by the historic bull rally displayed by NVIDIA stocks, propelling the AI giant to a 1 Trillion market valuation. Therefore, the demand for AI-powered crypto projects is seeing a strong surge as well.
While SingularityNET is struggling, two new AI tokens have emerged as frontrunners to potentially see big gains this year.
Revolutionary AI Trading Platform yPredict Turns Heads, Token Raises $2.3 Million
One AI token that looks set to have a big future is YPRED, the native token of the yPredict analytics platform.
Investors are flocking to the YPRED token presale, which has raised $2.3 million in just a few weeks.
Experts believe that yPredict’s wide range of trading tools and its AI-based predictive training can be crucial for retail traders during this time of peak market volatility. Furthermore, the platform provides tools for traders with all levels of experience.
For example, all YPRED holders are eligible for free-of-cost access to the yPredict Predictions platform. It consists of accurate price prediction models for thousands of crypto assets and securities and is the perfect tool for beginners new to predictive trading.
Similarly, yPredict Analytics offers three levels of membership: free, active, and pro trader. It uses pattern recognition, sentiment analysis, and transaction data analysis to provide users with market insights and important alerts.
The yPredic Marketplace is the flagship product of the company that allows AI/ML experts to publish highly accurate and vetted market data models. Traders can subscribe to these models and use them as a part of their trading strategy to make informed decisions.
The YPRED token holders receive discounted access to all yPredict services. Furthermore, they can earn a whopping 45% quarterly staking reward, which makes YPRED one of the most lucrative AI-based tokens.
With over 20k users already on the waiting list and the project receiving backing from VCs and pro traders, the YPRED token is expected to show a strong surge after launch. Interested investors can purchase YPRED through bank cards or by swapping ETH, USDT, or MATIC tokens.
Numerous traders, including the popular Michael Wrubel, have stated they’re bullish on yPredict.
AI-based Meme Token AiDoge Set for IEO, Bull Rally Incoming?
With the crypto market filled with no-utility meme tokens, the AiDoge project has easily separated itself from the crowd. The AI-powered meme token raised $14.9 million in a successful presale, with the token set for an explosive launch on the 19th of June.
Presale AI token holders can also claim their tokens on the same day at the “Claim & Launch” event.
While most meme tokens create hype around trendy social media characters, the AI token powers the AiDoge meme generation platform. Reaching out to young crypto traders through entertaining memes is a popular strategy for most crypto companies. However, most of them lack the time or resources to effectively execute this plan. The AiDoge platform allows users to input text-based prompts and receive relevant and engaging memes generating by AI tech.
The project has also taken strong steps to offer secure asset management. The token has been audited by Certik to root out any potential vulnerabilities. Moreover, 25% of the token supply will be vested with the company for a period of 10 years to highlight its commitment to long-term success. The project also uses industry-leading security solutions such as Fireblocks to prevent any hacks or malicious activity.
Investors can earn AI rewards by staking the token or voting on the platform. You can buy AiDoge at the listing price of $0.0000336 by swapping ETH, BNB, or USDT tokens.
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