Crypto analyst Miles Deutscher has spotlighted several altcoins, with a special focus on artificial intelligence (AI) tokens, that demonstrate strong breakout potential in the current market rebound. 

ETH On The Rise

In a recent post on X (formerly Twitter), Deutscher suggests that the upcoming Ethereum (ETH) Dencun upgrade, along with advancements in the AI industry, could drive significant price movements in related tokens. 

Deutscher emphasizes the upcoming ETH Dencun upgrade, noting that while much attention has been directed towards Bitcoin (BTC) and exchange-traded fund (ETF) flows, ETH has been steadily rising against BTC. 

Interestingly, the analyst expects an “aggressive” upward movement in ETH at some point, particularly with the first set of ETF decision dates approaching in May. 

Deutscher also highlights the strong performance of AI tokens, including AGIX, FET, WLD, and RNDR, attributing their recent success to significant advancements within the AI industry. According to the analyst, the upcoming earnings report from NVIDIA (NVDA) on Wednesday could further bolster the bullish sentiment surrounding AI coins. 

Highlighted Altcoins And Their Catalysts

• BLUR: BLUR is nearing a significant announcement, and Deutscher notes the token’s recent strength, suggesting the $1 mark may soon be within reach. The founder’s association with BLAST, another project, adds to the intrigue.
• BEAM: Deutscher points out that BEAM’s treasury holds large MAVIA bags, leading to increased balances. As the market begins to reevaluate the native token’s value, Deutscher is intrigued by the fact that BEAM has not gained widespread attention yet. He also mentions Pantera’s recent investment/partnership, further supporting his interest.
• STRK: Token launch day is Tuesday for STRK, and Deutscher observes that new token launches often present opportunities for investors. He will closely monitor STRK’s performance, as success could lead to airdrop sellers buying back in at higher prices, while continuous selling pressure could result in price declines.

• SEI: SEI is currently near all-time highs, and Deutscher notes positive sentiment surrounding the project, fueled by an “active team” and endorsements from key figures. If overall market sentiment remains positive, Deutscher sees potential for SEI to lead the way.
• MAVIA: Deutscher highlights the buzz surrounding MAVIA, drawing parallels to Axie in its early days. The token’s successful launch and endorsements from influential figures have added to its long-term investment appeal. While acknowledging an initial strong run, Deutscher considers MAVIA a potential dip buying opportunity.

As identified by crypto analyst Miles Deutscher, various altcoins, especially AI tokens, are capturing attention due to their breakout potential. Factors such as the upcoming ETH Dencun upgrade and advancements in the AI industry are expected to influence price movements. 

Featured image from Shutterstock, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

According to analytics firm Santiment, Artificial Intelligence (AI) and Real-World Assets (RWA) could be future drivers for the crypto market.

AI And RWA Crypto Tokens Have Seen High Interest Recently

As explained by Santiment in a new post on X, topics like AI and RWA have recently seen a surge in interest. The indicator of relevance here is the “Social Volume,” which keeps track of the amount of discussion related to any given topic or term occurring on social media platforms.

This metric makes this measurement by counting the number of unique posts/threads/messages that mention at least one topic in question. The indicator measures the number of posts rather than the number of mentions themselves because the latter can provide a skewed picture.

Consider a situation where many mentions are occurring on these platforms but are limited to only a few posts. Discussion around the topic is happening for sure. Still, the fact that only some users are engaging in it could imply that the average user may not have any interest in the topic.

A large number of posts being made around the topic, on the other hand, would imply discussion is happening across social media, and hence, there has to be some interest outside niche circles.

Now, here is a chart that shows the trend in the social volume of AI and RWA over the last few months:

Looks like the value of the metric has been high for both of these topics in recent days | Source: Santiment on X

As displayed in the above graph, the Social Volume for these two topics has been at notable levels recently, implying that the crowd has been paying attention to them. Based on this increased interest, Santiment believes these topics are “projecting to be future crypto market drivers.”

“In the ever-changing climate of trader interests over the years, such as DeFi, NFT‘s, memecoins, or staking, these more recent topics have been a major focus, and many related tokens have taken turns benefiting from market decouplings,” notes the analytics firm.

Santiment has also listed some cryptos that connect with these topics. For the AI side, there is The Graph (GRT), Fetch.ai (FET), SingularityNET (AGIX), Ocean Protocol (OCEAN), and Bittensor (TAO).

Meanwhile, for RWA, the analytics firm has pointed out cryptos like Avalanche (AVAX), Chainlink (LINK), Internet Computer (ICP), and Maker (MKR). Given the high interest backing both these topics, it’s possible these assets could be ones to keep an eye on in the future.

Avalanche Price

Avalanche has observed a strong surge during the past week as the asset’s price has shot up almost 30%. Following this surge, the crypto has cleared the $35 level.

The chart below shows how AVAX has performed recently.

The price of the crypto has observed a sharp surge over the last few days | Source: AVAXUSD on TradingView

Featured image from Shutterstock.com, charts from TradingView.com, Santiment.net

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.