Is the Bittensor (TAO) price rally sustainable? Here's one new crypto to consider It faces potential corrections as early backers may take profits. Meanwhile, emerging Crypto All-Stars raises interest with its presale phase and innovative staking protocol for meme coins
Bittensor is one of the hottest crypto coins of this season, having registered a 70% profit on the monthly chart. As the crypto market shows signs of another surge, Bittensor emerges as a top altcoin to watch.Bittensor’s (TAO) price pumps, but is it sustainable?
Bittensor’s rapid surge on the monthly and weekly charts raises concerns: Is this rally sustainable, or, is a price correction on the horizon for the AI-focused crypto? A closer look at the recent surge offers some insights.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
The rapid price increase of TAO is rooted in the ongoing developments within the Bittensor network. The project is anticipating the launch of smart contracts, which could cement its position in the AI sector.
This launch will improve trustless cross-chain bridges and strengthen the ecosystem’s hierarchical structure, potentially resulting in a more efficient environment.
Spotlight WireBittensor one-month price performance, source: CoinMarketCapThe developments in decentralised AI training is another attractive feature drawing investors to Bittensor. Large AI models are no longer confined to tech giants; open-source communities like Bittensor make it accessible to everyone.. Bittensor is emerging as a key player in decentralised artificial intelligence.The introduction of Dynamic TAO (dTAO) has also fuelled interest in the project. It adds to the appeal of subnet tokens and has the potential to unlock creative opportunities. Bittensor's subnets are known for their skilled development teams.
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According to popular crypto influencer ElonMoney, Bittensor could skyrocket to a $10 billion market cap.
https://x.com/0xelonmoney/status/1838168075398500386
As a decentralised AI project, Bittensor justifies the growing traction. The AI sector within the crypto market is expected to boom in the coming years, combining breakthroughs in blockchain and machine learning. Projects like Bittensor play a key role in lowering entry barriers to the AI sector.
However, it remains to be seen whether TAO can maintain its momentum. A pullback wouldn’t be surprising if early backers decide to take profits.
Crypto All-Stars: Another hot crypto to consider now
A new crypto entering the market is Crypto All-Stars ($STARS). However, TAO and STARS serve different utilities in different sectors.Bittensor has already built a large community, while Crypto All-Stars is an emerging project, currently in its presale phase and yet to launch on crypto exchanges.
However, there are multiple factors that make Crypto All-Stars an attractive alternative to Bittensor. To begin with, investors can secure $STARS at a lower entry point with heavy presale discounts, giving the altcoin more space to grow, whereas TAO already has a market cap exceeding $4 billion.
Spotlight WireBeing the world’s twenty-fourth largest cryptocurrency, it is unrealistic to expect TAO to replicate its past performance such as the 40000% (the lifetime ROI). It is unlikely to offer similar returns to new investors. $STARS, on the other hand, has yet to begin its journey. That’s it? Sure, STARS is a younger project than TAO. But that alone isn’t a good enough reason to buy an asset. So, what’s driving the STARS hype in the crypto market? Let’s take a closer look.
$1.9 million raised: A multichain, multi-token staking protocol for meme coins
Crypto All-Stars is set to launch a staking protocol that operates across multiple chains and supports various tokens. Titled MemeVault, the platform is specifically built for meme coins on the ERC-1155 multi-token standard. It will support a broad range of meme coins on top blockchain networks.Meme coins are known for their volatility. They experience a brief spike before fading. Crypto All-Stars puts forward a more sustainable model by giving meme coins real utility.
Here, investors can stake their meme coin assets and earn passive income in $STARS. It transforms them from speculative assets into a source of passive returns.
Spotlight WireFor $STARS token holders, the platform gets even more exciting, with the annual percentage yield (APY) reaching up to three times the standard rate.At launch, Crypto All-Stars plans to support eleven popular meme coins. It provides a centralised staking platform for meme coin investors who would otherwise need to manage multiple staking platforms.
$STARS staking has already begun. The APY exceeds 800% in the current phase. The staking return rates are dynamic and will decrease as more investors join the staking pool. The presale discounts similarly decrease as each stage progresses.
Prominent crypto influencers have fuelled interest in the project. Here is a recent review of $STARS by Crypto Zeus, who has a large community of over 78,000 subscribers on YouTube.
The exposure has also built a significant online presence for the new crypto project, with over 16000 followers on X (Twitter) and 2,000 members on Telegram.
Using a compatible crypto wallet like Metamask, Coinbase Wallet, Wallet Connect, anyone can join the $STARS presale. It is easy and accessible. The extensive audits by Coinsult and SolidProof reinforce the security aspect of the presale. Crypto All-Stars has raised $1.9 million in its presale so far.
Visit the $STARS presale
Name: Crypto All Stars
Email: [email protected]
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
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This story originally appeared on: India Times - Author:Faqs of Insurances
