Artificial Superintelligence Alliance, Bittensor, Sui, and more: Cryptocurrencies to watch this week
Cryptocurrencies have seen significant inflows following
the Federal Reserve’s decision to lower interest rates,
creating a more favorable environment for riskier assets. While the broader crypto market is thriving as a result, the AI-driven token sector has experienced an especially sharp surge, with many projects gaining momentum in response to the Fed’s move. This shift has piqued investor interest, making it an opportune time to explore which cryptocurrencies are worth watching in this evolving and rapidly expanding landscape.
Read on to discover the key tokens poised for growth:
NEAR Protocol (NEAR)
NEAR Protocol (NEAR) is the largest AI token by market cap, valued at $5.5 billion. It is designed to incentivize a network of computers to support a platform where developers can build and launch decentralized applications (dApps). Initially launched as a crowdsourced AI platform, it later expanded into blockchain.
The cryptocurrency has jumped over 22% in a week and is currently trading at $4.86.
Artificial Superintelligence Alliance (FET)
Earlier this year, blockchain networks
Fetch.ai, SingularityNET, and Ocean Protocol combined their tokens into one and created an alliance for decentralized AI
— or “ASI,” which stands for “artificial superintelligence.” The partnership aimed to provide an alternative to
tech giants’ growing control of the AI industry
.
Now, the Artificial Superintelligence Alliance (FET), formerly known as Fetch.ai, has gained over 25% in a week, primarily due to the overall impact of the interest rate cuts on the stock and crypto market. Currently, Artificial Superintelligence Alliance is trading at $1.66.
Bittensor (TAO)
Bittensor seeks to decentralize machine learning and artificial intelligence by creating a marketplace where AI functions as a tradable commodity. While some industry experts remain skeptical,
labeling Bittensor as a “memecoin”
capitalizing on the current AI hype, its recent performance suggests growing interest.
In the past week, Bittensor’s value surged by 81%, largely driven by the
launch of the Grayscale Bittensor Trust
, now available to accredited investors. Also, on September 21, Bittensor introduced a decentralized training mechanism in
collaboration with Macrocosmos and Manifold,
which contributed to the price increase.
As of now, the cryptocurrency is trading at $543, reflecting its rising demand in the market.
Sui (SUI)
Sui is the native cryptocurrency of the SUI Layer-1 blockchain, designed for high transaction speed and smart contract deployment. The cryptocurrency’s value has increased by over 38% in the past week, driven by
Circle’s USDC stablecoin launch on the Sui network
using the Cross-Chain Transfer Protocol.
Prior to that, Grayscale announced a new SUI fund and transitioned the Sui Name Service to a decentralized protocol, signaling strong confidence in the future of SUI. Currently, Sui is trading at $1.53.
Avalanche (AVAX)
Avalanche is a blockchain network positioned as a direct competitor to Ethereum, with a focus on improving transaction speed and reducing fees. Avalanche claims significantly faster performance, handling 6,500 transactions per second (TPS) compared to Ethereum’s 12-15 TPS. This scalability and cost-efficiency have been central to its appeal, especially for decentralized applications (dApps) and financial solutions.
Recently, Avalanche celebrated its four-year anniversary since its official mainnet launch, marking a key milestone in its development and continued growth within the blockchain ecosystem.
The cryptocurrency is up by over 14% in a week and is currently trading at $27.
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