The market is sending lots of mixed signals right now. Bitcoin is doing OK. So are SOL and memecoins. Most of the rest of the market is doing awful. But there are pockets of good performance out there if you know where to look.
So today, we look at 6 projects and we tell you which 2 we are buying, which 2 we are holding, and which 2 we are selling. Hint: One is in AI.
What Are We Buying?
We’ve been saying this for a while but we really believe that crypto and AI are made for each other. Eventually centralized solutions like OpenAI and Claude will need independent AI agents to help them grow or to make better user experiences for using their AI models.
And those agents will be digital natives. Soon we will be in the place where 2 AI agents will be interacting with each other on behalf of a buyer or a seller. That’s just one example. And when they do, do you think they will request or wait for a payment from ACH, SEPA or SWIFT as payment for their services?
They won’t. Crypto as the digital payment rail is the answer to paying AI agents quickly, easily, and digitally. So our first buy pick is in AI.
The pick is ASA. ASA’s $FET token is the merge between 3 existing projects
- Fetch.AI
- Singularity.net AND
- Ocean Protocol
The idea is that these 3 projects can work better together as the Artificial SuperIntelligence Alliance than they can separately or in looser partnerships.
Merge stuff between the 3 projects is still going on now. And that’s where your opportunity is. The token part of the merger is already taken care of. And the price is down 32% in the last 30 days and lower than the initial merged token price of $1.26. The price is currently 87 cents. At this current price, the value of all 3 together is less than what the value of Fetch.ai was worth BEFORE the merger. There is some great value here for a leading AI Project.
Our 2nd Buy Pick
Our 2nd buy pick is in the RWA sector. The tokenizing of assets is just starting and it WILL explode. It’s only a matter of when.
Big money is coming into the sector but they don’t have Web3 native platforms to list, buy, sell, or create these digital assets. And that’s the edge that existing RWA platforms have.
So our pick here is Polytrade. It’s a small cap at only $19 million of market value. And it’s down 60% in the last 3 months so that’s something you should be aware of. We see this as opportunity but there is risk here.
Polytrade is an asset tokenizing marketplace. So you can list your asset for sale, as well as buy and trade here. You can also use the marketplace to create your own unique tokenized asset.
They are also the creators of the RWA-friendly ERC 6960 token standard. This allows fractional assets, which are vital for high-value assets like real estate.
Did you know we’re the author of the ERC-6960 standard?
This is a crucial step forward in tokenization that’s reshaping the RWA landscape.
Our dual-layer token standard not only enhances the true tokenization experience but also masterfully handles nuances like changes in the… pic.twitter.com/4jv3GeIbXD
— Polytrade (@Polytrade_fin) August 13, 2024
Do you have a favorite AI or RWA project? Let us know in the comments below.
What Are We Holding?
Our 2 Holds are not going to surprise anyone with the possible exception that we don’t have them on our Buy list. As you saw, we are sticking with the narratives where coins are moving though. So that’s why our 2 Holds are the top 2 projects in the industry.
Bitcoin and Ethereum. We expect both to do well.
The question is will they do as well as those in the hot narratives like RWA and AI. And the answer to that is not as easy. BTC and ETH will beat most projects in the market. And that includes many in AI, RWA, or DePIN. But the best in these areas are the ones in position for 50x potential.
For Bitcoin to 50x, that would put it at $3 million per coin. It would also mean a $55 TRILLION market value. Is that possible over time? Yes. Likely in this market cycle? No.
And for Ethereum, it’s a similar story. For ETH to 50x, that would mean $130,000 per ETH and a market value of $15 Trillion. In this market cycle, that is not happening. Maybe someday.
Bitcoin is down slightly over the last 3 months and up 100% over the last 12 months. That places Bitcoin near the top of all projects that aren’t memecoins. It’s also near the top of all blue chip projects so Bitcoin is doing well when measured among the best of the best.
But that huge explosion of 50x,100x or more is not coming from Bitcoin this cycle. But if you have either BTC or ETH you should hold it or add strategically to your positions when you can.
What Are We Selling?
According to Token Terminal, NFT marketplace x2y2 has had only 575 active monthly users in the last month. This is in contrast to the top 2 marketplaces OpenSea and Blur who had 18k and 43k visitors in the same month.
Plus, remember, monthly users can and do include anyone who just signs in once that month. So the number of NFT traders using it is declining.
So this means x2y2 is at best a dying marketplace and it could be dead already. There are better places to put your money. It has also declined 71% in the last year and 23% in the last 30 days. The decline is not stopping.
Our 2nd sell today falls in the “dead chain” category. And I can be honest in saying a few of us at Altcoin Buzz like this project and have been rooting for the chain to do well. But it just does not have enough adoption.
The chain is Tezos.
Token Terminal reports that Tezos is on pace for a 4th consecutive month of $2500 in fees or less. Even with its low gas fees, this is a clear sign that people are just not using this chain. The chain is losing, on average, between $2 million and $4 million per month.
The combination of their Treasury and community loyalty as shown by 65% of all $XTZ is staked are the only things saving it right now. It could come back but we do not think you should consider putting it on your radar until there are more clear signs of a growing user base and fees and revenue to support the chain.
We hope they get back on track eventually.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.
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