As MEXC apologizes over a $3M asset freeze, the AI crypto sector rebounds 4% with best AI crypto coins like DeepSnitch AI attracting massive attention.
On October 31, MEXC representative publicly apologized to White Whale, three months after the user’s funds were frozen due to the exchange’s risk control rules.
Around $3M holdings were frozen by the exchange, with the representative releasing the funds following the user’s noteworthy social media campaign. Despite this, the affected user clarified that the issue in question is simply the tip of the iceberg, and many users, while praising MEXC’s transparency, continued to criticize the company for its actions.
Meanwhile, the AI crypto sector’s market cap logged an increase of around 4%, signifying recovery, with many traders looking for the best AI crypto coins to invest in as the sector expands.
DeepSnitch AI, while still in its second stage, attracted attention from investors who helped raise $488K in record time, citing the project’s revolutionary approach to AI agent technology.
Is MEXC in the wrong?
On October 31, Cecilia Hsueh, MEXC CSO, publicly apologized for freezing $3M worth of funds from a user referred to as White Whale in July.
According to Hsueh, following the freezing of assets due to risk control rules, the exchange handled the situation poorly. MEXC has already released the funds, inviting White Whale to claim them at any time.
Moreover, the CSO claims that she got “emotional” during communications with the user, taking full accountability for the company’s actions.
After MEXC froze its assets, White Whale launched a full-scale media campaign against the exchange, revealing that MEXC requested an in-person meeting in Malaysia. White Whale spent $2.5M on the campaign.
Following the apology, the trader responded to the post and shared the belief that the apology still didn’t specify what the MEXC exchange was apologizing for. Furthermore, White Whale claims many other similar cases exist and pledged to distribute the released assets to supporters of his media campaign.
The crypto community welcomed the move but continued to criticize MEXC’s actions, which caused the MX token to drop by 3.5% after the apology was posted.
As the drama unfolded, the AI crypto sector recovered by 4% and traders shifted their attention back to the top artificial intelligence cryptocurrencies to buy in Q4 to capitalize on the category’s growth.
Trending AI tokens this week
1. DeepSnitch AI: Trader-centric solution for a 100x?
Despite being an early-stage presale, DeepSnitch AI quickly built up a reputation in the AI community as an interesting project that takes a unique approach to AI tech. The key differentiation is that this presale is focused solely on traders looking for a day-to-day AI-powered trading suite.
The organic hype for the utility allowed DeepSnitch AI to raise as much as $488K as early as the second stage.
What’s the core tech about?
In short, DeepSnitch AI leverages five AI agents trained to transform raw blockchain and off-chain data into actionable trading analytics. The insights are accessible through an AI-powered dashboard, with sophisticated alerts that traders can use to overhaul their approach to daily trading.
The first two agents are particularly interesting.
SnitchFeed continuously monitors various crypto threads and alpha groups, which allows it to predict market sentiment shifts with accuracy. That’s not everything, though, as this agent can also track whale moves and recognize incoming FUD storms.
In contrast, SnitchScan scans tokens, predicts their upside potential, and can even identify rug pulls.
This technological approach is interesting to AI aficionados, but DeepSnitch AI expands beyond the niche market, which may allow it to achieve mass adoption. While this could present a bullish turn of events for the AI market, it could also lead to a major upside as most early supporters predict the DSNT token to go 100x after launch.
Priced at $0.02114, if the 100x prediction materializes, investing a modest $1K could provide earnings as high as $100K.
DeepSnitch AI’s price is set to increase as demand grows, so many investors are already rushing to invest in Stage 2 to maximize their earnings on the coin. However, others are looking to reserve their access to SnitchFeed and SnitchScan, which are slated to release first.
2. Render: Will RENDER break out in November?
Render is one of the top coins in the AI sector. Yet, according to CoinMarketCap, RENDER has been struggling to recover since the mid-October crash, and was trading in the $2.20 area on October 31.
The key resistance area for RENDER stands above $3, which the coin has struggled to regain since October 14. While the daily chart indicated a massive selling pressure, and despite consolidation near the lower support, technical traders believe macroeconomic factors could help the coin reach $3.30 in November.
Furthermore, the first Bittensor ETP launched on October 29, which is bullish for Render as it points to a rising interest in AI coins’ institutional appeal.
While the project’s GPU utility sets it up for long-term growth, the current price action may disqualify any explosive gains compared to DeepSnitch AI, which is currently considered one of the best new AI crypto projects.
3. Bittensor: Does TAO’s price limit the upside?
According to CoinMarketCap, TAO experienced a massive rally that pushed it above the $500 resistance on October 31.
The driver behind the massive surge is likely institutional investment. As said previously, the first TAO ETP was launched the day prior, which led to an uptick in trading.
Technical analysis confirms impeccable upward momentum. While the RSI is likely to go into an overbought level, if the current trajectory continues, TAO might close above $540, which could propel the price even higher in the short term.
A pullback may also be possible, in which case, TAO will retest the $460 support.
Bittensor is the biggest AI project, with a strong long-term outlook. Yet, similar to RENDER, the upside for small investments may be severely limited.
Conclusion: Parabolic AI market
If the current trajectory continues and TAO continues climbing, the hype will naturally spill over into other assets in the crypto AI sector.
Although Render and Bittensor are some of the best AI crypto coins, entrants into the AI category can unlock explosive gains by going for a presale project with a low entry.
DeepSnitch AI’s utility may end up rivalling established AI coins, and the project may also reach mass appeal, meaning 100x gains are possible by investing in the project during its second stage.
Position yourself for success in the parabolic AI market and check out the DeepSnitch AI presale ASAP.
FAQs
1. What are the best AI crypto coins to buy right now?
The leading AI crypto coins currently include DeepSnitch AI, Render, and Bittensor. While Render and TAO are established projects, DeepSnitch AI’s early presale stage offers a low entry point and high-growth potential.
2. How did MEXC’s $3M asset freeze impact the market?
The MEXC controversy initially caused negative sentiment, which dropped MX tokens’ price by 2% and shook investors’ confidence.
3. Can AI crypto presales like DeepSnitch AI outperform established AI coins?
Early-stage presales like DeepSnitch AI offer far greater upside potential. While Render and Bittensor have solid fundamentals and long-term growth potential, DeepSnitch’s niche in trader-focused AI agents may provide it with the opportunity for an explosive pump.
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