In
an
analysis
of
the
current
landscape
at
the
nexus
of
artificial
intelligence
and
altcoins,
crypto
analyst
Prithvir
(@Prithvir12)
recently

shared
insights
via
X
that
highlight
both
the
opportunities
and
pitfalls
in
the
AI
coin
market
this
month.
His
analysis
covers
upcoming
AI
catalysts,
their
impact
on
specific
tokens,
and
personal
investment
recommendations,
shedding
light
on
the
nuanced
strategies
required
in
this
volatile
segment.

 

In-Depth
Look
At
The
AI
Crypto
Market

Prithvir
underlines
a
series
of
significant
events
in
the
AI
space
that
are
anticipated
to
directly
impact
the
crypto
markets.
He
first
points
to
NVIDIA’s
earnings
announcement
scheduled
for
May
22nd,
emphasizing
NVIDIA’s
pivotal
role
in
AI
technology,
which
could
have
cascading
effects
on
AI-centric
cryptocurrencies.

Further
stirring
the
market
is
the
buzz
around
OpenAI’s
GPT-4oT.
Moreover,
Prithvir
discusses
the
influence
of
major
tech
conferences
focused
on
AI
advancements,
notably
Google’s
I/O
conference
and
Apple’s
emphasis
on
AI
at
its
upcoming
Worldwide
Developers
Conference
(WWDC).
He
predicts
these
events
are
poised
to
introduce
new
AI
initiatives
that
could
impact
crypto
markets.

Related
Reading

In
his
post,
Prithvir
also
analyzes
several
tokens
that
have
responded
differently
to
these
AI
catalysts.
He
describes
WLD,
associated
with
OpenAI
through
Sam
Altman,
which
experienced
a
20%
drop
in
price
last
week,
a
typical
“sell
the
news”
reaction
post
the
GPT-4o
announcement.
He
expresses
concerns
about

WLD’s
“ridiculous
tokenomics”
and
the
risks
posed
by
potential
coordinated
short
squeezes,
advising
traders
to
approach
with
caution.

Prithvir
also
touches
upon
OLAS,
which,
despite
losing
some
visibility
since
its
peak
in
2023,
remains
active
on
the
Gnosis
chain
and
could
be
poised
for
a
comeback
depending
on
market
conditions
and
developments
within
its
platform,
according
to
the
analyst.

 

The
token
SPEC,
however,
has
shown
significant
volatility,
skyrocketing
from
$5
to
$15
and
then
retracting
to
$8
within
two
weeks.
Prithvir
critiques
its
high
fully
diluted
valuation
(FDV)
close
to
$1
billion,
warning
of
the
speculative
nature
and
the
inherent
risks
of
engaging
with
such
a
volatile
asset.

Related
Reading

Lastly,
he
addresses
the

group
of
ASI
tokens
FET,
AGIX
and
OCEAN,
representing
the
Super
Intelligence
Alliance,
noting
that
their
once-leading
positions
in
AI-driven
market
rallies
have
dwindled.
According
to
Prithvir,
these
tokens
are
currently
overvalued,
with
limited
upside
potential,
indicating
a
saturated
market
state
for
these
assets.

Prithvir’s
Top
Altcoin
Picks

Navigating
through
the
complexities
of
the
AI
coin
market,
Prithvir
shares
his
preferred
investment
strategies
and
picks.
He
highlights

Render
(RNDR)
as
a
favorable
choice,
especially
leading
up
to
NVIDIA’s
earnings
and
Apple’s
WWDC,
due
to
its
direct
ties
to
their
technologies
and
expected
feature
enhancements
which
might
boost
its
value.

“NVIDIA
due
to
comparisons
of
GPU
networks
and
Apple
due
to
the
rendering
software
they
have
built
that
Apple
always
features
at
different
keynotes.
Hence,
I
think
this
could
be
a
good
swing
trade
leading
up
to
WWDC
Time
period
–
3
weeks,”
the
analyst
stated.

 

AR
is
Prithvir’s
“biggest
AI
coin
holding
currently.”
The
project
is
praised
by
him
for
its
pivot
to
AI
functionalities
with
the
AO
Computer
and
robust
team.
The
presence
of
AR
on
Tier-1
exchanges
and
its
substantial
backing
makes
it
a
“no-brainer”
for
a
medium-term
hold.

He
also
mentions
NEAR,
albeit
with
a
smaller
investment
footprint
due
to
the
perceived
limited
upside.
“Smaller
position
than
AR
due
to
more
limited
upside.
But
could
become
one
of
the
consensus
AI
trades
of
this
cycle
due
to
its
brand
value,
good
liquidity
and
innovations
in
other
sectors
such
as
Chain
Abstraction,”
Prithvir
wrote
via
X.

At
press
time,
RNDR
traded
at
$10.1089.

Featured
image
from
Shutterstock,
chart
from
TradingView.com

Go to Source
Author: Jake Simmons

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