A closely followed crypto analyst says that a clear bull pattern is forming for one artificial intelligence (AI)-focused altcoin while updating his outlook on three other tokens.

Pseudonymous crypto trader Altcoin Sherpa tells his 223,300 followers on the social media platform X that a “clear bull trend” is underway for machine learning protocol Bittensor (TAO).

The trader shares a chart suggesting that TAO has broken out of its multi-month accumulation range.

“TAO never dropped to the range low. Expansion and clear bull trend now IMO (in my opinion), dips are for buying.”

TAO is trading for $488.88 at time of writing, a 5.20% increase during the last day.

Moving on to the native asset of the Artificial Superintelligence Alliance (FET), the trader says he’s waiting for the coin to witness a minor pullback before going long.

“FET – I think $1.50 could be an ok first entry, but pretty aggressive. If patient, you can hope for $1.37ish levels. Would probably do some entries at $1.50 though personally.”

FET is trading at $1.62 at time of writing.

Altcoin Sherpa is also looking at the layer-1 modular blockchain Celestia (TIA), noting that the asset had its first major retracement near its 100-day exponential moving average (EMA).

“Would target $5.11ish for first entries if you like this one.”

TIA is trading for $5.42 at time of writing, a 7.34% decrease during the last 24 hours.

Concluding his analysis with the memecoin Popcat (POPCAT), the trader says the token may be one small correction away from a breakout.

“POPCAT breaks soon after a bit of a pullback. Bullish on all the beta that comes with it (aura/ hehe/ etc).”

POPCAT is trading for $0.923 at time of writing, a 4.42% increase on the day.

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The decentralized oracle network Chainlink (LINK) continues to outpace all other ERC-20 projects in terms of development activity, according to the crypto analytics firm Santiment.

Santiment notes on the social media platform X that Chainlink registered 624.17 notable GitHub events in the past 30 days, more than double the number of the second-ranked project, Ethereum (ETH), which clocked 298.8.

The oracle project also topped the list in June and August.

The decentralized finance (DeFi) protocol Synthetix (SNX) came in third with 289.93 notable GitHub events.

An ERC-20 project is a standard that developers use to issue tokens on the Ethereum blockchain and virtual machine.

Santiment notes that it doesn’t count routine updates and utilizes a “better methodology” to collect data for GitHub events based on a “backtested process.”

The analytics firm has previously said that heavy development activity centered around a crypto project indicates developers believe in the protocol. Development activity also suggests that the project is less likely to be an exit scam.

LINK is trading at $11.39 at time of writing. The 18th-ranked crypto asset by market cap is up 1.6% in the past 24 hours.

ETH is trading at $2,575 at time of writing and is up nearly 4% in the past day.

Synthetix’s native asset, SNX, is trading at $1.58 at time of writing. The 130th-ranked crypto asset by market cap is up more than 6% in the last 24 hours.

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Total3, an index that tracks the market capitalization of the top 125 cryptocurrencies, excluding bitcoin and ether (ETH), was trading 5.68% higher since the central bank’s announcement that it would slash the Federal Funds rate by 50 basis points, according to data on TradingView. Bitcoin’s market cap, by contrast, rose only 4.4%.