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AI-based cryptocurrencies Bittensor (TAO) and Fetch.ai (FET) have been predicted by OpenAI's chatbot, ChatGPT, to be the top performers in the sector this year. TAO, with its surging market cap and strong growth potential, is a key contender. The asset has seen a 725% increase since May 2023, despite a significant retracement from its all-time high of over $720 in March this year. FET, the second-largest AI cryptocurrency with a market cap of around $5.7 billion, was also highlighted due to its advanced technology and broad applicability in industries like supply chain optimization and smart cities. Other AI cryptocurrencies such as Render (RNDR), SingularityNET (AGIX), and Ocean Protocol (OCEAN) were also mentioned as potential top performers. Interestingly, the current leader in AI cryptocurrency, Internet Computer (ICP), was not included in ChatGPT's ranking. The chatbot suggested that ICP could maintain its leadership if it effectively integrates AI functionalities and tools, making it more attractive to developers and companies. It also noted that investment levels and regulatory changes could significantly impact ICP's performance.

AI-based cryptocurrencies Bittensor (TAO) and Fetch.ai (FET) have been predicted by OpenAI's chatbot, ChatGPT, to be the top performers in the sector this year. TAO, with its surging market cap and strong growth potential, is a key contender. The asset has seen a 725% increase since May 2023, despite a significant retracement from its all-time high of over $720 in March this year.

FET, the second-largest AI cryptocurrency with a market cap of around $5.7 billion, was also highlighted due to its advanced technology and broad applicability in industries like supply chain optimization and smart cities. Other AI cryptocurrencies such as Render (RNDR), SingularityNET (AGIX), and Ocean Protocol (OCEAN) were also mentioned as potential top performers.

Interestingly, the current leader in AI cryptocurrency, Internet Computer (ICP), was not included in ChatGPT's ranking. The chatbot suggested that ICP could maintain its leadership if it effectively integrates AI functionalities and tools, making it more attractive to developers and companies. It also noted that investment levels and regulatory changes could significantly impact ICP's performance.

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Monochrome Asset Management, an Australian investment firm, is set to launch the country's first spot Bitcoin exchange-traded fund (ETF) on May 4, 2024. The Monochrome Bitcoin ETF (IBTC) will be the first fund in Australia to directly hold BTC and is expected to be listed on the Cboe Australia exchange on June 4. The firm will implement a strictly passive buy-and-hold investment strategy for Bitcoin, without using derivatives, leverage, or short selling. Monochrome applied to launch IBTC in April, amid the growing popularity of the U.S. spot Bitcoin ETF market. The firm had previously received approval to launch a spot Bitcoin ETF in August 2022, which was intended to give investors direct exposure to BTC, ether, and other cryptocurrencies. The launch of IBTC is significant as it offers Australian investors a regulated way to tap into the potential of the Bitcoin market. Monochrome's CEO, Jeff Yew, emphasized that unlike other Bitcoin ETFs, IBTC benefits from the investor protection rules under the directly held crypto Australian Financial Services (AFS) licensing regime. This development is part of a global trend, with several other countries approving the listings of spot Bitcoin ETFs, offering investors direct exposure to the cryptocurrency. The success of the first wave of ETFs launched in the United States earlier this year has triggered a wave that is spreading across regions like Hong Kong. This positive trend is expected to continue, with more countries likely to approve similar products in the coming months.
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