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As the crypto world turns its gaze towards AI-driven projects, NEAR Protocol, Bittensor, and the new eTukTuk showcase significant gains, highlighting the sector’s vibrant potential.
The AI crypto craze is back in full swing, with several projects in this niche witnessing significant gains over the past day.
Tokens like NEAR Protocol (NEAR), Bittensor (TAO), and the newly launched eTukTuk (TUK) have turned bullish – highlighting the growing excitement around AI-related blockchain protocols.
NEAR surges 12% amid AI crypto rally
NEAR Protocol is leading the charge at the moment. In just the past few hours, NEAR’s price has surged over 12% to hit $6.76. The buying frenzy has sent NEAR’s spot trading volumes soaring by 26% to $463 million as investors pile in.
This impressive rally has helped NEAR completely erase Tuesday’s losses. From a technical standpoint, the token has now pushed past its 20-day exponential moving average (EMA) on the 4-hour chart – considered a bullish signal.
But what really kicked off this momentum was NEAR’s ability to firmly reject support at $6 earlier today.
So, where might NEAR head next if buyers remain in control? The next major hurdle is likely to be around $7.30, which has previously acted as stiff resistance.
After that, the next port of call could be the wicks around $8, which were posted last Tuesday. Whether NEAR’s rally has real staying power remains to be seen, but for now, the momentum is firmly on the bulls’ side.
Bittensor rises 9% and approaches key resistance level
While NEAR Protocol has grabbed the spotlight, it’s not alone in the AI crypto rally. Bittensor, the decentralized AI network, has seen its native TAO token rise 9% in the past few hours as well, currently trading at $564.
Like NEAR Protocol, TAO has also punched above its 20-day EMA on the 4-hour chart. However, the token still has some work ahead if it is to hold these gains – TAO is now approaching the $600 resistance level that sellers aggressively defended on Monday.
Despite the encouraging price surge, Bittensor’s price action remains choppy across most time frames.
However, some analysts are growing optimistic about the crypto’s long-term prospects. They point to the possibility of a giant bull flag pattern forming on the daily chart – which could hint at further upside if bulls break through convincingly.
Time will tell if TAO can join NEAR in making this AI crypto rally a meaningful one. But any signs that the $600 level is breaking could unleash significant buying power from retail traders looking to capitalize on the AI narrative.
eTukTuk raises $2.7m in presale
Rounding out the trio of AI crypto projects generating buzz is eTukTuk – a unique initiative that’s taking the concept of sustainable transportation to new heights. And investors have taken notice, with TUK’s presale raising over $2.7 million and ranking highly on platforms like CoinSniper.
eTukTuk is an eco-friendly project that aims to replace traditional gas-guzzling tuk-tuks with sleek new electric versions, dubbed “eTukTuks.”
But the plan doesn’t stop there – to support these electric vehicles, a network of solar-powered charging stations will be built across developing nations. What makes eTukTuk particularly exciting is its integration of AI technology.
For instance, the platform’s driver app uses AI to map out optimized routes and predict ideal charging times to minimize battery consumption. These AI components extend to eTukTuk’s operational decision-making, helping the developers determine optimal locations for new charging stations.
eTukTuk’s ambitious vision clearly resonates with investors since a combined 52,000 people have been involved with the project’s Twitter and Telegram communities. Moreover, with its presale a runaway success, eTukTuk looks set for a major exchange debut later this year.
At the time of writing, would-be investors can get TUK tokens at the discounted price of $0.0295 using BNB, USDT, or a credit/debit card. This low price point, combined with eTukTuk’s unique use of AI, could make it an enticing prospect for investors interested in eco-friendly crypto projects.
To learn more, visit the eTukTuk presale.
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This article first appeared at crypto.news
