The recent TAO price rally sparked interest among investors in finding the next promising crypto coins that could offer significant returns. TAO has made a huge step ahead in its decentralization progress by introducing smart contracts to its blockchain. TAO increased from a low of $192 on September 6 to over $550 in less than a month.
Can These Four Crypto Coins Peplicate TAO Gains?
TAO price has taken a breather as the hype over the news may have been priced in. However, investors looking to double their portfolios can look into these crypto coins:
1. Chainlink (LINK)
Chainlink is a decentralized oracle network that provides real-world data to smart contracts on the blockchain. The project has a suite of services that range from DePIN to RWA tokenization to DeFi, making it one of the most sought-after Web3 service providers.
Chainlink’s Cross Chain Interoperability Protocol (CCIP), Proof of Reserves, and Oracle network services with over 1,000 integrations—all paid for in LINK tokens. This increases the demand for LINK, potentially setting up the stage for a price surge in the future.
Chainlink price is on an upward trend, increasing by 6.67% on September 24 and inching closer to breaking above a bullish reversal pattern that could send it to $15.
2. Artificial Super Intelligence (FET)
FET is one of the largest AI blockchains in terms of resources owing to the recent mergers between Ocean (OCEAN), SingularityNET (AGIX), and itself. The ASI alliance has recently added another member to the team, bringing the total member count to four. The consolidation of all these resourceful projects into one token could send prices higher.
The FET price has increased 24% in the last seven days and promises to double as a bullish inverted head-and-shoulder pattern has flashed on its daily timeframe chart.
3. Cardano (ADA)
Cardano is known for its strong focus on security and scalability. The Cardano team has improved its technology in the past few months, releasing Hydra and teasing Ouroboros’ implementation.
Cardano price surged by 6.63% yesterday, inching closer to breaking out of a falling wedge. Further bullish action is likely to send the crypto coin to $0.80 if market conditions remain the same.
4. Sui (SUI)
Sui Network is a next-generation Layer-1 designed to enhance the deployment of smart contracts and improve transaction speeds through parallel processing and horizontal scaling.
The SUI price has increased in the past few weeks following capital inflows into the network. Over the past month, $310 million has been bridged from Ethereum to the network. Sui’s social dominance has also surged alongside its TVL, which surpassed $950 million. These factors could drive SUI prices over $5 as it has already broken above a key resistance level.
Conclusion
These four crypto coins could turn a $500 investment into $5,000, especially given their strong fundamentals and growth aspects. Additionally, the incoming crypto market bull run season could bolster returns beyond the anticipated 10X increase.
Frequently Asked Questions (FAQs)
TAO made a major leap forward in its decentralization efforts by introducing smart contracts to its blockchain. This development fueled investor interest, leading to a rapid price increase.
While no investment is guaranteed, Chainlink (LINK), Artificial Super Intelligence (FET), Cardano (ADA), and Sui (SUI) all have strong fundamentals and potential for growth. These coins could potentially replicate or even exceed TAO’s recent gains, especially if market conditions remain favorable.
Cardano focuses on security and scalability, with recent technological improvements like Hydra and Ouroboros. The price has surged recently, and it could continue to rise if the market remains favorable.
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Evans Karanja
Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/4-crypto-coins-to-turn-500-to-5000-after-taos-100-rally/
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