Top AI Altcoins Set to 20x in the Next Crypto Bull Run
AI altcoins are making waves in the market, with their market cap rising 7.9%, while Bitcoin’s price remains stable, causing its dominance to fall to 58.54%. In comparison, AI tokens have been outperforming many meme coins, with some seeing impressive gains of over 20%. Bittensor (TAO), for instance, surged 20% due to excitement surrounding its new EVM compatibility.
The AI sector continues to capture significant attention, with OpenAI securing $1.5B in funding despite a major data leak, and Talus Network reaching a $150M fully diluted valuation. As Bitcoin takes a pause, AI-focused altcoins are showing strong growth potential.
Analysts predict that AI’s total addressable market (TAM) could surpass $12 trillion in the next 6-7 years. Even capturing just 5% of that for decentralized AI would equate to $600 billion, and with speculative premiums, the sector could reach a ~$1.8 trillion market cap, making it a critical area to watch.
Here are some top AI crypto picks highlighted by analyst Miles Deutscher:
Bittensor (TAO): Leading the way in decentralized AI research, Bittensor recently integrated with Ethereum, enhancing its potential for DeFi applications. It’s a strong buy during market dips for anyone looking to enter the AI sector.
NEAR Protocol (NEAR): NEAR saw a 17% surge this week after partnering with Deutsche Telekom to validate blockchain transactions. With $243M in total value locked and the development of a 1.4 trillion-parameter AI model, NEAR is a strong contender in both AI and blockchain innovation.
Grass (GRASS): Positioned to connect real-world data with AI and crypto, Grass is well-placed as demand for valuable data continues to rise.
Spectral Labs (SPEC): Revolutionizing the space with AI agents that autonomously operate on-chain, Spectral Labs is automating processes such as trading and decision-making.
Mode Network: Leveraging AI to automate crypto investment management, Mode Network is introducing a new layer of automation to the DeFi space.
Is Altcoin Season Near?
Miles Deutscher suggests that Bitcoin’s dominance since April 2023 could signal the start of a new cycle. As Bitcoin leads the market, its price increase often shifts investor focus to altcoins, potentially triggering an "altseason."
