Artificial Superintelligence Alliance, Bittensor, Sui, and more: Cryptocurrencies to watch this week

NEAR Protocol (NEAR) is the largest AI token by market cap, valued at $5.5 billion. It is designed to incentivize a network of computers to support a platform where developers can build and launch decentralized applications (dApps). Initially launched as a crowdsourced AI platform, it later expanded into blockchain.

The cryptocurrency has jumped over 22% in a week and is currently trading at $4.86.

Earlier this year, blockchain networks Fetch.ai, SingularityNET, and Ocean Protocol combined their tokens into one and created an alliance for decentralized AI — or “ASI,” which stands for “artificial superintelligence.” The partnership aimed to provide an alternative to tech giants’ growing control of the AI industry.

Now, the Artificial Superintelligence Alliance (FET), formerly known as Fetch.ai, has gained over 25% in a week, primarily due to the overall impact of the interest rate cuts on the stock and crypto market. Currently, Artificial Superintelligence Alliance is trading at $1.66.

Bittensor seeks to decentralize machine learning and artificial intelligence by creating a marketplace where AI functions as a tradable commodity. While some industry experts remain skeptical, labeling Bittensor as a “memecoin” capitalizing on the current AI hype, its recent performance suggests growing interest.

In the past week, Bittensor’s value surged by 81%, largely driven by the launch of the Grayscale Bittensor Trust, now available to accredited investors. Also, on September 21, Bittensor introduced a decentralized training mechanism in collaboration with Macrocosmos and Manifold, which contributed to the price increase.

As of now, the cryptocurrency is trading at $543, reflecting its rising demand in the market.

Sui is the native cryptocurrency of the SUI Layer-1 blockchain, designed for high transaction speed and smart contract deployment. The cryptocurrency’s value has increased by over 38% in the past week, driven by Circle’s USDC stablecoin launch on the Sui network using the Cross-Chain Transfer Protocol.

Prior to that, Grayscale announced a new SUI fund and transitioned the Sui Name Service to a decentralized protocol, signaling strong confidence in the future of SUI. Currently, Sui is trading at $1.53.

Avalanche is a blockchain network positioned as a direct competitor to Ethereum, with a focus on improving transaction speed and reducing fees. Avalanche claims significantly faster performance, handling 6,500 transactions per second (TPS) compared to Ethereum’s 12-15 TPS. This scalability and cost-efficiency have been central to its appeal, especially for decentralized applications (dApps) and financial solutions.

Recently, Avalanche celebrated its four-year anniversary since its official mainnet launch, marking a key milestone in its development and continued growth within the blockchain ecosystem.

The cryptocurrency is up by over 14% in a week and is currently trading at $27.