The AI crypto sector, known to defy the market, has literally exploded in recent weeks. FET and TAO are the two stars shining on this volatile stage.
The month of August was not kind to the crypto market. However, some assets managed to perform well in this bear market. Among them, AI cryptos led the dance with stellar performances.
This performance was particularly driven by two assets: Fetch.AI (FET) and BitTensor (TAO). In this sea of uncertainty, interest in these assets seems to be rekindling, signaling a possible recovery.
AI Cryptos: the new trend to follow
The AI crypto sector, known to be able to largely defy the market, has literally exploded in recent weeks. Among them, two assets stand out: FET and TAO. Fetch.AI's performance is as impressive as a magician pulling a rabbit out of a hat.
In August, after a trend reversal pattern, FET made a jump. The Chaikin Money Flow (CMF) is climbing, suggesting a bright future. Price estimations could reach up to $2.21 by the end of the year. These numbers show that in the world of AI altcoins, there's reason to smile, provided you keep an eye on market trends.
Between promises and precautions
On the other hand, BitTensor does not disappoint. Although TAO recently experienced a slight dip to $440, its future seems promising. The market is in full swing, and the forward Funding Rates for Fetch.AI are now in the green. This means that traders are taking long positions, and long positions imply prices could rise.
Indeed, volatility, though tricky, creates opportunities for savvy investors. However, be careful not to get carried away. Rising Funding Rates are great but they can also mean liquidation risks if things take a turn. Analysts will say that the game of AI cryptos is both an art and a science.
It’s essential to remember that even in a promising market, caution is still necessary. So, whether you’re a seasoned investor or a curious novice, closely monitor the boom of AI altcoins as it opens new perspectives for crypto investors.
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