The cryptocurrency sector is witnessing a transformation with the emergence of AI-driven altcoins, poised for unprecedented growth. As Bitcoin’s influence wanes, priced near $66,900, investors are eyeing the expiration of 18,000 Bitcoin options with interest. 

In this shifting landscape, five altcoins, Bittensor (TAO), Fetch.AI (FET), SingularityNET (AGIX), The Graph (GRT), and Arkham (ARKM), emerge as frontrunners. Each offers a unique blend of AI innovation and blockchain technology, setting the stage for significant market movements.

Crypto Options Face Major Expiry Today

The options market reports a noteworthy occurrence. A total of 18,000 Bitcoin options are set to expire, featuring a Put Call Ratio of 0.64, a critical Maxpain level at $68,000, and a substantial notional value of $1.2 billion. 

5 April Options Data
18,000 BTC options to expire with a Put Call Ratio of 0.64, Maxpain point of $68,000 and notional value of $1.2 billion.
270,000 ETH options are due to expire with a Put Call Ratio of 0.38, Maxpain point of $3,400 and notional value of $890 million.
Today is… pic.twitter.com/QpoQH0i6Bw

— Greeks.live (@GreeksLive) April 5, 2024

Meanwhile, Ethereum options on the brink of expiry total 270,000, with a Put Call Ratio of 0.38, a Maxpain point at $3,400, and a notional value pegged at $890 million. 

The challenge to maintain the $70,000 mark ended in favor of short sellers, making the sale of calls the predominant strategy of the week. The aftermath saw a noticeable decline in Implied Volatility (IV) across all key terms. 

While Bitcoin maintains investor interest post-halving, other cryptocurrencies are currently facing a bearish phase. Additionally, the influx into ETFs has seen a slowdown as the market adjusts to recent premium shifts.

1. Bittensor (TAO)

Bittensor (TAO), a pioneer in the decentralized AI learning domain, facilitates the collective enhancement of machine-learning algorithms. Participants receive TAO tokens as rewards, acknowledging their valuable contributions. Currently, the price of TAO has witnessed a modest dip of 12%, standing at $570.

Bittensor price chart

In the recent two months, Bittensor’s performance has been nothing short of spectacular, boasting a surge of over 70% in value. This remarkable growth has propelled its crypto market capitalization to $3 billion. As the expiration of 18,000 Bitcoin options looms, Bittensor is highlighted as the premier AI-focused altcoin for investors.

2. Fetch.AI (FET)

Fetch.AI (FET), a cutting-edge AI research organization, is pioneering a decentralized, barrier-free machine learning network through blockchain innovation. This endeavor aims to distribute and streamline digital transactions, enhancing efficiency and elevating user experiences.

Currently, Fetch .AI price is $2.56, a 4% decrease over the last day. Its ranking on CoinMarketCap is 52, and its market capitalization is $2 billion. 

FET’s price has witnessed a remarkable 32% rise in the past month, surging past the $2 threshold even amidst market adjustments. This has secured its position as a top AI-focused altcoin, especially as 18,000 Bitcoin options reach their expiration.

3. SingularityNET (AGIX)

SingularityNET champions a decentralized AI service framework, fostering an environment where AI’s benefits are equally accessible and promoting widespread access and participatory opportunities. This project is built on an open-source foundation, incorporating a collection of smart contracts to foster an AI marketplace that serves the greater good.

The AGIX token of SingularityNET has seen an impressive 146% increase in the last 24 hours, a surge tied to increased on-chain activities associated with the token.

Over the last month, AGIX has climbed over 18% to $1.03, driven by escalating interest in AI cryptocurrencies. This surge aligns with the broader AI industry’s enthusiasm, further amplified by Nvidia’s stellar financial performances in AI chip manufacturing.

4. The Graph (GRT)

The Graph operates as an indexing protocol for querying networks like Ethereum and IPFS data, which is vital for numerous DeFi and wider Web3 ecosystem applications. It allows the creation and publication of open APIs, known as subgraphs, enabling applications to use GraphQL for blockchain data retrieval.

The price of The Graph is presently at $0.3217, experiencing a 4% decline in the past 24 hours. Its CoinMarketCap rank is 40, boasting a $3 billion market cap. Over the last year, GRT’s value has escalated by 111%, showing a strong uptick despite recent market dips.

5. Arkham (ARKM)

Arkham (ARKM) is pioneering a platform that spotlights key figures in cryptocurrency market trends. This innovative solution scrutinizes crypto transactions and trades, organizing them by their value, the type of token, timing, and involved parties.

Arkham price chart

Despite a recent 3% dip in its price to $2.07, Arkham price has seen an impressive surge of 117% in just the past week. Its trading volume stands at $85.69 million, with a market cap of $424 million. This positions it as the top AI-driven alternative coin to consider purchasing, as 18,000 Bitcoin options are set to expire.

Bottom Line

As the digital currency ecosystem continues to evolve, AI-based altcoins like TAO, FET, AGIX, GRT, and ARKM are positioned to lead the charge. Offering a blend of innovation and opportunity, they are the smart choice for investors aiming to capitalize on the next wave of crypto advancements.

The post 5 AI-Based Altcoins To Buy As 18,000 Bitcoin Options Expire appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am