Avorak AI, a new AI crypto has been gaining traction in the crypto market. Analysts suggest that there is compelling evidence to show that this AI crypto will overtake Filecoin and Decentraland in 2023.
What happened to Decentarand (MANA)?
Decentraland, the Ethereum-based virtual reality project, has faced several challenges leading to a decline in its market position. Despite its initial hype, on-chain data indicates a significant decrease in the number of new users joining the metaverse project. This decline suggests that Decentraland may be losing ground to its competitors. The recent sell-off among Decentraland whales also adds to the bearish outlook for the project. Compounding these issues, MANA, the native token of the platform, was listed as a security in the SEC case against Coinbase, causing a notable decline in the already struggling price. Moreover, eToro recently announced that its U.S. customers will no longer be able to open new positions in Decentraland (MANA) starting from July 12th. This has increased the FUD (fear, uncertainty, and doubt) surrounding MANA, with some analysts hinting at potential delistings.
What is Filecoin?
Filecoin is a decentralized storage network and cryptocurrency that aims to revolutionize data storage and retrieval. Filecoin has garnered significant attention and has the potential to disrupt the existing data storage systems. However, recent evidence suggests that it may face challenges in its growth. Filecoin’s native token, FIL, was also labeled a security in the SEC-Coinbase lawsuit. Additionally, the higher timeframe charts indicate a lack of bullish momentum since September 2021, implying difficulties for price rallies. On the 4-hour chart, FIL exhibits a strong bearish trend, supported by the Relative Strength Index (RSI) consistently staying below the neutral 50 level for the past ten days. The downward momentum is further emphasized by the 50 and 100-period moving averages. These factors indicate that Filecoin may be facing headwinds and could struggle to maintain its market position against emerging competitors in 2023.
Why Avorak AI could lead
Avorak differentiates itself from other AI crypto projects by offering a comprehensive suite of AI-driven solutions, targeting various human-led tasks such as trading, data analysis, security management, online shopping, customer service, content creation, 3D modeling, and blueprint drafting. Its first-to-market approach provides users with distinct advantages, including a sophisticated text-generation AI that combines multiple techniques to deliver high-quality, non-plagiarized content tailored to user requirements. This also enables the project to establish itself before the potential competition.
The Avorak project also has strong tokenomics. Its native token, AVRK, which will be required to access its services, is deflationary and has a maximum supply of 40 million. This means that AVRK’s price is expected to increase with the demand for Avorak AI services, and the scarcity factor further enhances the potential value appreciation. AVRK holders are entitled to a share of Avorak’s profits and can increase their hold through its staking pools. AVRK can also be used for incentivized liquidity provision through crypto exchanges.
Avorak’s strategic initiatives contribute to its promising outlook. The project launched a one-of-a-kind NFT collection that combines AI and digital art to provide aesthetic quality. Owners of these NFTs also get utility benefits, such as up to 100,000 words free per month and 50% off on additional credits with its text generator, Avorak Write. The project has also held off on incorporating a company in the U.S. amid the regulatory uncertainty.
The Avorak project is in its initial coin offering (ICO) phase, and its relatively low market cap allows its price to surge significantly, with analysts predicting more than 100x. The ICO has seen increased investments as more users get aware of the disruptive capabilities of the project. Several exchanges have already announced plans to list AVRK, which is also a positive sign. AVRK is currently selling at $0.255 in the second-to-last phase of the ICO. Investors at this level get a 4% bonus and priority access to Avorak’s beta products. Additionally, with a launch price of $1, investors can still earn significant increases in investments before launch day.
For more information on Avorak AI:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
Photo by Jason Briscoe on Unsplash
Source: null ts