Cryptocurrencies To Watch: Week of May 30
Major cryptocurrencies, including Bitcoin, failed to make significant moves in the latest week. Bitcoin remains just above $27,000, recovering from a dip below $26,000 on May 24.Despite this, certain tokens outperformed the market considerably in the last week.
This week, we examine NEO (NEO), SingularityNET (AGIX), IOTA (MIOTA), Conflux (CFX), and Arbitrum (ARB). In selecting these assets, we have considered several factors, including positive technical developments, significant news events, and noticeable changes in price.
Blockchain platform Neo's NEO coin jumped 21% following disclosure of a partnership with Alchemy Pay.The network, which offers a range of features including native oracles and decentralized storage, will have easy on- and off-ramping payments, thanks to the partnership. Blockchain oracles connect blockchains to external systems, allowing smart contracts to be executed based upon inputs and outputs from the real world.
The project has also been conducting a ChatGPT competition, which may have contributed to the price increase. NEO is trading at around $11.28, having been priced at about $9.65 last week (see chart below).
NEO Price: TradingView
Amid growing interest in AI, SingularityNET (AGIX)'s token price increased by 16%, possibly in connection with the heightened interest in this technology.The project offers a decentralized market for AI solutions and generally has been gaining more attention since ChatGPT took off.
Just as AI interest has helped boost Nvidia’s stock recently, crypto tokens working on AI are seeing jumps in price. AGIX is changing hands at around 31 cents, having traded at 26 cents last week (see chart below).
AGIX Price: TradingView
IOTA (MIOTA) increased by 13% after the
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