Akash Network vs FET: Which AI Coin is Worth Investing in 2024?
As the global crypto market struggles with a recovery, with Bitcoin price and Ethereum recording slight losses over the past day, the altcoin sector have not been spared. These digital currencies have garnered a collective market cap of $30.45 billion, showing a decline of about 3%. Amidst the market turbulence, investors are closely monitoring AI crypto coins, hoping that they would land on the next potential opportunity. This article with provide a deep analysis of both Akash Network (AKT) and Artificial Superintelligence Alliance (FET), in order to determine which AI coin is worth adding to your investment portfolio in 2024.
Akash Network vs ASI: Current Market Performance
Akash Network (AKT) is currently valued at $3.83 and has displayed a varied performance over the last month. Although it increased by 5.11% each day, it showed a remarkable performance over the week with a 22.67% rise. Nevertheless, there has been an 18.17% decrease in the overall one-month trend.
AKT market capitalization is around $929 million, placing it at the 75th spot in market rankings. The trading volume for 24 hours is approximately $56.67 million, showing a notable increase of 24.67%. The token hit a record high of $3.47 in late March 2024, but has since dropped by 61.71% from that peak.
On the other hand, the Artificial Superintelligence Alliance (FET) is priced at $1.33 and has encountered a tougher time. The token’s value dropped by 1.33% in the last day and experienced significant decreases in the previous week and month, with reductions of 19.62% and 36.88%, respectively.
FET is ranked #27 with a market capitalization of around $3.36 billion. The trading volume has reached $137.55 million in 24 hours, indicating a small increase of 1.45%. The FET performance has been facing challenges when compared to its past peak levels, indicating a more significant decline in recent times.
Overview of Al Coins: Akash Network Vs FET
Akash Network plans to revolutionize the cloud computing sector with a decentralized platform for cloud resources. It enables developers to efficiently and affordably deploy applications by utilizing excess cloud capacity in global data centers.
Through the utilization of blockchain technology, Akash guarantees transparency, security, and cost savings, presenting a compelling option compared to conventional cloud services such as Amazon Web Services (AWS) and Google Cloud.
On the other hand, FET I is an AI lab creating a decentralized machine learning network with a crypto economy. It allows anyone to access secure datasets using autonomous AI to perform tasks. The model is based on optimizing services like DeFi trading, transportation, energy grids, and travel, using large-scale datasets.
Technical Analysis of AI Coins: Akash Network Vs FET
Akash Network (AKT) is currently showing a positive and bullish outlook in the short to medium term, with EMAs indicating a buy signal and potential resistance levels to overcome. The RSI is neutral, and the MACD suggests buying potential. Fibonacci levels indicate support at 3.007 and resistance at 4.466.
Conversely, Fetch.ai (FET) has a more cautious technical perspective, with EMAs signaling sell indications and a bearish trend in shorter time frames. The RSI suggests reduced buying power, while the MACD supports selling sentiment. FET’s Fibonacci levels show strong support at 0.4231 and resistance at 2.0537.
Overall, AKT displays positive short-term momentum with important support and resistance levels, while FET indicates a more careful outlook with dominant sell signals and crucial support levels to monitor.
Conclusion: Which AI Coin is Worth Investing in 2024?
Both Akash Network (AKT) and Fetch.ai (FET) offer promising potential in the AI and blockchain industries, however, their market trends and technical analysis point towards diverging paths in 2024. Akash Network’s positive short-term outlook and solid support levels suggest it has significant immediate upside potential, making it an appealing choice for investors seeking to benefit from positive momentum.
Conversely, the downward trends and careful technical indicators seen in Fetch.ai suggest the importance of monitoring closely and considering a potentially more extended investment approach.
Overall, for investors looking to invest in AI coins in 2024, Akash Network appears to be the most promising choice because of its strong market performance and positive indicators.
The post Akash Network vs FET: Which AI Coin is Worth Investing in 2024? appeared first on CoinGape.
