Today, we're diving deep into the latest trends and hottest picks in the cryptocurrency space.
As always, we've got a packed show lined up for you, featuring the most promising projects and narratives that are making waves in the cryptocurrency industry.
By the way, if you're interested in learning about DeFi and discovering innovative projects, you may want to check out our 'Mastering DeFi' course. It's designed to help you understand DeFi in a fun and easy way, with lessons that you can access immediately. Now let's get started!
Crypto narratives are essentially the stories and ideas that shape how people perceive and value different cryptocurrencies. They can be driven by technological advancements, market trends, or even cultural events.
By staying informed about emerging narratives, investors can potentially identify undervalued projects that are poised for growth. So without further ado, let's get started.
We would be discussing AI as the first crypto narrative and we would look at $SPEC and TAO$ altcoins under this narrative.
The integration of blockchain and AI has spawned several AI crypto projects aiming to provide secure and efficient AI solutions within blockchain protocols. Each AI-powered project serves unique applications, from enhancing cloud computing services to enabling secure data sharing.
Spectral (SPEC) stands out in the blockchain space by integrating autonomous onchain agents with the Web3 ecosystem. Doing what it knows how to do best, Spectral leverages AI and machine learning technologies to create these agents, which operate autonomously within the blockchain environment.
The founders of Spectral are Sishir Varghese, Kevin Choi, and Srikar Varadaraj. Sishir Varghese brings extensive experience in blockchain technology and has been instrumental in the strategic vision of Spectral.
Recently, Spectral joined Hugging Face’s Expert Support Program, where they’re working with deep learning experts from Hugging Face to advance open-source models, datasets, and applications for the Onchain Agent Economy.
Partnerships and airdrops are strategic moves by Spectral to expand its reach and adoption. These initiatives not only foster community growth but also enhance the platform's visibility and utility.
$Tao is up next under the AI narrative. Bittensor is an open-source protocol that powers a decentralized, blockchain-based machine learning network.
Bittensor (TAO) is making headlines in the cryptocurrency world by securing the top spot in Grayscale's Decentralized AI Fund. Once holding a modest allocation, TAO has surged to a dominant 29.55% share in the fund.
TAO, now the second-largest AI crypto, boasts a market cap of $4 billion. The rise in Open Interest, a measure of active trades, has also supported TAO’s price surge.
Open Interest has tripled since early September, reaching a new high of $189 million . This suggests more traders are betting on TAO’s continued growth.
Currently, TAO is trading at $631 after recovering from a key support level of $470. However, it’s consolidating above $600, and if it manages to break out above $640, there could be a further pump up to $713—an impressive 28% increase from its current price. Let us know your thoughts in the comments below.
Up next we would be looking at Depin as the next trending narrative and we would take a look at $NATIX and $HNT under this narrative.
DePIN, with its decentralized approach, inherently enhances privacy and security, making it a more attractive option for individuals and businesses . The increasing sensitivity around this topic after decades of apathy creates a nice tailwind for DePIN.
At the heart of NATIX Network is its ambition to build an open geospatial intelligence network. Utilizing proprietary AI and the "Internet of Cameras," the network crowdsources real-time data through driver assistant apps like dash cams and navigation systems.
They also recently announced their latest partnership with Helium Mobile, the world’s first people -powered phone carrier.
With this partnership, they’re working on a system that would reward their Drive & users who rely on Helium Mobile’s decentralized connectivity network for data transfer in mapping and navigation tasks.
With over 100,000 registered drivers and nearly 40 million kilometers covered in just one year, NATIX Network is rapidly emerging as a significant player in the decentralized physical infrastructure networks (DePIN) space.
The network's growth is underscored by its inclusion in Messari’s state of DePIN 2023 report, highlighting its swift expansion and adoption.
$HNT is up next. The Helium network strives to delegate the community to a whole new level, with around 8600 hotspots installed in over 1800 municipalities.
If the team behind the network manages to encourage a wider audience, amidst Bitcoin’s halving event. HNT’s price could rise to a maximum of $16.0320 by the end of 2024.
Conversely, the lack of fulfilling events and factors could conclude the year at minimum levels of $4.3755 and an average of $10.288.
Helium’s proof-of-coverage system rewards users for sharing their internet connection. As the number of IoT devices grows, Helium’s network may expand too and boost the price of its native token—HNT.
Recent partnerships indicate strong potential for future growth. With an expanding ecosystem, Helium represents a solid pick for any altcoin portfolio and that's why we added it to today's picks.
Memecoins are also a trending narrative and we would take a look at $BONK and $MOG under this narrative.
Memecoins are popular due to endorsements from high-profile individuals and the role of memecoins in digital culture. Despite their risky nature, memecoins have gained attention from traders due to the possibility of high returns.
$BONK has done 12% over the last 24hours. BONK is the first dog-themed coin on Solana "for the people, by the people. BONK is similar to Shiba Inu (SHIB) and Dogecoin (DOGE) memecoins, it was launched on December 25, 2022. A nice Christmas gift by the way.
By market capitalization, it is the fifth-largest meme coin and has performed well, increasing 30% from its monthly lows.
The general upbeat attitude in the cryptocurrency market has benefited Bonk , especially in the wake of the Federal Reserve's interest rate reductions, which have increased risk appetite and liquidity.
The $223 million in trading activity on Bonk in a single day indicates that investors are optimistic about the company's future.
Memes are gaining traction, and Bonk seems ready for another big surge. This makes it an essential monitor for anyone hoping to see modest investments convert into substantial profit. If you are enjoying this video, don't forget to drop a like.
As per $MOG, what makes MOG unique is their unapologetic passion for memes and viral content! They're not just some copycat project trying to ride the coattails of others. They are in for real business.
According to GeckoTerminal data, the Mog Coin price has been sustainedly bullish since mid-September, as the bulls capitalized on the $0.0000010 support.
If the breakout continues, the price of Mog Coin could soar even further to the $0.0000020 resistance, a 17.85% surge from the current price.
The last crypto narrative we would be discussing today is the gaming narrative and under this, we would be looking at Treeverse and Gunzilla.
As more players and investors become aware of the benefits of investment gaming, the market is expanding. Major gaming companies are exploring blockchain integration, and new projects are emerging, contributing to the sector's growth.
Treeverse is a blockchain-based MMORPG game that has captured the attention of the Web3 community for its innovative integration of digital assets and an immersive open world.
This project has managed to stand out in a saturated ecosystem, offering players a unique experience in the metaverse with a focus on land ownership and decentralized economy.
Treeverse has secured solid funding for its development. In its latest round, co-led by Animoca Brands and IDEO Ventures , a leading blockchain gaming investment company and an interesting sponsor, Treeverse raised 25 million dollars that has allowed it to continue with the game's development.
This financial support has consolidated the community's confidence in the project's future.
And finally, guys, gunzilla. Gunzilla Games a AAA game studio creating their new platform called GunZ, empowering players by granting them complete ownership over their in-game possessions.
Gunzilla Games recently announced that Delphi Ventures has become the largest validator of its GUNZ blockchain. The announcement, made on Gunzilla’s official X account, comes at a critical moment as the studio prepares for the global launch of its highly anticipated Web3 AAA battle royale game, Off The Grid (OTG), set to release later this year.
This partnership not only strengthens Gunzilla Games’ blockchain network but also serves as an endorsement of the studio’s vision for the future of Web3 gaming.
And there you have it, folks! That's a wrap on our top crypto picks from today's trending narratives.
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