A widely followed crypto analyst is diving deep into the altcoin markets, focusing on one popular subsector.
Pseudonymous crypto trader Rekt Capital tells his 406,600 followers on the social media platform X that the altcoin markets are in a “Q1 hype cycle.”
“ALTS
A lot has changed since early February
Not many were enthusiastic about an Altcoin Hype Cycle whereas now the sentiment is drastically different
Welcome to the Q1 Altcoin Hype Cycle”
Zooming in specifically on two popular altcoins in the blooming artificial intelligence (AI) sector, the analyst says the time for AI blockchain Fetch.ai (FET) is now.
“It’s FET’s day, month and even its year
New All-Time Highs yet again”
Fetch.ai is a decentralized machine learning network that has been on the rise with the growing prominence of AI tech.
FET is worth $1.76 at time of writing, up 20% in the last 24 hours.
Looking at decentralized data monetizing AI platform Ocean Protocol (OCEAN), an AI token that’s up 130% in the last month, the pseudonymous trader says OCEAN is about to confirm a macro uptrend.
“OCEAN is up 258% since breaking out from its Channel
And now, OCEAN is trying to break its multi-year Macro Downtrend to confirm a new Macro Uptrendx”
Ocean Protocol aims to connect data providers and consumers, utilizing AI technology. The OCEAN token is used to make payments as well as secure and govern the network.
OCEAN is worth $0.952 at time of writing, up 11% on the day.
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