Three AI cryptos were examined to understand which had a more bullish short-term outlook, and one coin had a distinct advantage.
With its high daily active users, accumulation trends, and rising prices from the recent lows, one of the AI coins had a moderate advantage.AI cryptos are a promising sector in the crypto ecosystem. The rise of AI through tools such as ChatGPT, Fireflies, Midjourney, SaneBox, and a dozen others aids the automation of everyday tasks at the workplace or with innovation.
This does not completely capture the price trends of the three coins in the 1-day timeframe. From a technical analysis perspective, INJ was the weakest among them. Both INJ and GRT have a bearish market structure on the 1-day chart.Coming to what the tokens aim to do, Render Network is peer-to-peer and utilizes the blockchain to distribute GPU rendering power. Its goal is to democratize GPU cloud rendering and make it more efficient and scalable.
Injective is a decentralized exchange on the Cosmos blockchain that allows the cross-margin trading, futures, and forex. It is built as a Layer 2 application and uses cross-chain bridges to allow traders to access assets from the Polkadot and Ethereum networks. The weighted sentiment was negative and has largely been that way since the 22nd of March. On the other hand, the mean coin age was trending higher to indicate market-wide accumulation.
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