AI & DePIN projects to lookout for in Altseason 2024

Analysts speculate that Altseason 2024 is just around the corner, or at best already underway, and believe that only select projects will reach the top of the charts. Chances are that they will fetch nearly 100x worth in the times to come. It is worth noting, however, that this is only a supposition and not necessarily a blueprint or a definite schedule for their achievement.

For starters, the projects in discussion pertain to two categories: AI and DePIN. Both have gained momentum in the current time, and they are expecting to mark several upswings as the time progresses. Projects that could eventually fetch beneficial holdings are Render (RNDR), Cudos (CUDOS), Akash Network (AKT), Arweave (AR), and Peaq Network (PEAQ).

Render Network allows its users to contribute unused GPU power. It is based on Blockchain and powered by its native crypto RNDR. The idea is to support the offering by rendering motion graphics and visual effects for projects.

RNDR has a fully diluted valuation (FDV) of approximately $5.4 billion. The token is listed at $10.06, up by 0.25% in the last 24 hours, with a market cap of more than $3.9 billion at the time of writing this article.

CUDOS focuses primarily on the cloud computing segment, with the aim of ensuring sustainable and scalable distributed resources. The network has the key features of decentralization and scalability. It is known to connect cloud and Blockchain technologies.

CUDOS, the utility token of the ecosystem, has an FDV of around $121 million. The token is exchanging hands at $0.01532, a surge of 12.06% in a single day with a market cap of over $89 million at press time.

Akash Network belongs to the same segment, except it connects server owners who need computing power for applications with cloud computing resources—resources that are available on the network.

AKT has an FDV of $1.26 billion and a token value of $5.18, a decline of 2.30% in the last 24 hours, and a market cap of more than $1.2 billion.

Arweave is a decentralized network that provides permanent data storage and hosting services. It resembles Bitcoin in terms of operating on an open-ledger system.

AR has an FDV of $2.64 billion and a token value of $38.92, down by 2.56% in the last 24 hours, with a market cap of more than $2.5 billion.

DePIN has architected the Peaq Network as a multi-chain layer 1 Blockchain. It has the ability to scale beyond 10,000 TPS, an acronym for transactions per second. It can do so without compromising on the minimal transaction cost of approximately $0.00025.

PEAQ is yet to be launched; however, the team has started running a fundraising campaign. It is reported that almost $40.98 million worth of funds have been raised so far.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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