With the rise of artificial intelligence (AI), we have seen remarkable advancements in various sectors, including the financial industry. Today, we delve into the impact of an AI model from China, DeepSeek, which has been making waves in the stock and cryptocurrency markets. Due to its remarkable performance against competitors at a lower cost, DeepSeek has gained a rapid ascent to fame. To understand the potential of this AI model, we commissioned DeepSeek to select two alternate coins (altcoins) that may potentially accrue substantial growth by 2030. The following sections present a detailed analysis of the two hand-picked altcoins by DeepSeek.
Exploring the Potential of Chainlink (LINK)
DeepSeek identifies Chainlink (LINK) as a promising altcoin owing to its significant role in the decentralized oracles space, which is an essential facet of the DeFi sector. It further pointed out that Chainlink’s venture into tokenized real-world assets, cross-chain interoperability, and blockchain gaming, supplemented by strategic partnerships, broadens its influence, which could fuel price growth.
Examples of such partnerships include Usual, a decentralized stablecoin protocol that adopted the Chainlink Standard to increase the liquidity and usage of its native $USD0++ and $USD0 tokens. Additionally, DeepSeek highlights that Chainlink’s revenue model could boost the demand for the token. In this model, projects incur fees in LINK, which could promote continuous demand for the token as the blockchain’s usage multiplies.
Despite stiff competition, DeepSeek predicts that Chainlink, being well-established, may endure the next wave of blockchain adoption, potentially offering returns ranging from 20 to 50 times of its present price. Further, DeepSeek also indicates the possible growth of the token facilitated by an increased influx of institutional capital, especially with the likely introduction of a corresponding exchange-traded fund (ETF). Tuttle Capital Management’s recent filing with the SEC for the first ETF tied to Chainlink supports this view.
As of the latest data, LINK is trading at $22.11, witnessing a decrease of nearly 10% in the last 24 hours. The token’s 13% decline on the weekly chart is in line with the overall market sentiment.
Unveiling the Potential of Fetch.ai (FET)
Fetch.ai (FET), an AI-focused altcoin, is DeepSeek’s second choice. The AI model notes that Fetch.ai’s potential for expansion lies in its ability to automate tasks, ranging from supply chain management to energy trading.
DeepSeek emphasizes Fetch.ai’s strategic partnerships with companies such as Bosch and Deutsche Telekom and its involvement in the “Artificial Superintelligence Alliance” through a merger with SingularityNET and Ocean Protocol as critical milestones for its growth.
Furthermore, DeepSeek indicates that with a comparatively low market cap, FET has immense growth opportunities if the amalgamation of AI with blockchain technology becomes a norm. In contrast, DeepSeek also points out the likely hindrances to Chainlink’s growth, such as competition and regulatory uncertainties, which are significant challenges.
At the time of report, FET was priced at $0.89, exhibiting a 10% drop in the past 24 hours.
Conclusion
While highlighting that LINK and FET have a solid foundation, DeepSeek also cautions investors that no investment guarantees a sure-shot path to wealth. It advises long-term hold strategies coupled with preparedness for expected volatility as the most suitable approach for such investments.
FAQs
What is DeepSeek?
DeepSeek is an AI model from China that has gained significant recognition for its performance in identifying potential investment opportunities in the cryptocurrency and stock markets.
What are the two altcoins recommended by DeepSeek for long-term investment?
DeepSeek suggests Chainlink (LINK) and Fetch.ai (FET) as prospective altcoins for long-term investment, considering their respective roles in the decentralised oracles space and task automation.
What are the potential challenges outlined by DeepSeek?
DeepSeek points out that substantial competition and regulatory uncertainties could hinder the growth of Chainlink (LINK).
