As the crypto world evolves altcoins are becoming a force to reckon with. This is happening in the face of the latest bullish sentiments in Bitcoin as the digital asset demonstrates its strength. Amidst this volatility, crypto analyst Miles Deutscher has recommended four altcoin tokes which can be up for substantial gains in future.
The selected tokens include Render (RNDR), Bittensor (TAO), SuperVerse (SUPER), and Mantra (OM) which represent key crypto narratives like Real-World Assets (RWA), Decentralized Physical Infrastructure Networks (DePIN), AI and GameFi
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SUPER, a gaming token, leads Deutscher's list as it has seen a 70% increase since his September recommendation due to its utility in the gaming industry. The crypto token capitalises on the burgeoning GameFi sector as it is driven by strong community support As play-to-earn models and NFT integration continue to grow, SUPER's position in the market could strengthen further.
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Meanwhile, TAO is a key player in the AI narrative because of its role in the AI infrastructure outside and within the crypto ecosystem. At present Bittensor is priced at $632.46 having gone through consistent growth recently which makes it a worthwhile recommendation for investors to bank on during buying dips.
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Mantra (OM) represents the RWA tokenization trend, a sector gaining momentum as high-profile figures like BlackRock's Larry Fink emphasize its importance. "We have the technology to tokenize today... This eliminates all corruption by having a tokenized system," Fink stated in a recent interview with Fortune. Mantra's strategic position in this niche could drive long-term growth.
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Render (RNDR) rounds out the list as a promising DePIN project, offering decentralized GPU computing power with applications in AI and high-performance computing. Its current technical setup suggests the potential for significant near-term gains.
Deutscher’s chosen altcoin is in line with the broader trend in the crypto market which shows a 42% and 37% increase in the trading volume of AI and GameFi-related tokens respectively in Q3 2023 compared to Q2. Additionally, CoinGecko data shows that the RWA token sector has grown by 112% in market capitalization over the past six months.
Thus, this altcoin selection shows how crucial narrative-driven investments are in the crypto world. As CoinShares’ Chief Strategy Officer Meltem Demirors said "Narratives are powerful drivers in crypto markets, often preceding and amplifying price movements."