ChatGPT-4o picks 3 undervalued cryptocurrencies to buy now 
Cryptocurrency Aug 24, 2024 Share
With thousands of cryptocurrencies available on the market, investors are still looking for affordable assets that have the potential to emulate Bitcoin’s (BTC) growth.
Indeed, the market harbors some digital assets that may be considered undervalued compared to the underlying fundamentals. Due to factors such as high potential use in the real world, these assets are worth monitoring as they could offer growth opportunities.
Therefore, Finbold turned to OpenAI’s artificial intelligence (AI) tool ChatGPT-4o to determine which digital assets are undervalued and worth buying. Below are the three assets highlighted by the AI model.
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Chainlink (LINK)
Chainlink (LINK) is a decentralized oracle network essential to the blockchain ecosystem. It allows smart contracts on platforms like Ethereum (ETH) to securely interact with external data sources, APIs, and payment systems.
According to ChatGPT-4o, this ability to connect blockchain technology with real-world data makes Chainlink crucial for expanding decentralized finance (DeFi) and other blockchain applications.
The platform noted that as blockchain technology evolves, Chainlink’s importance in bridging the gap between digital and real-world data could become even more significant, potentially driving its value.
Currently, LINK continues to trade in tandem with the general market, valued at $12, with weekly gains of about 18%. However, on a year-to-date basis, the token is down 19%.
LINK seven-day price chart. Source: Finbold
Polygon (MATIC)
Polygon (MATIC) serves as a Layer 2 scaling solution designed to address the scalability challenges faced by Ethereum. By providing faster and cheaper transactions while maintaining the security of the Ethereum network, Polygon has become increasingly essential.
According to the OpenAI tool, the platform has been expanding its ecosystem through strategic partnerships and technological advancements, which could further enhance its value. As the demand for scalable blockchain solutions grows, Polygon is well-positioned for potential growth.
On the other hand, MATIC has recorded losses of about 45% year-to-date, but on the weekly chart, the token is up over 30%, trading at $0.53 as of press time.
MATIC seven-day price chart. Source: Finbold
Algorand (ALGO)
Algorand (ALGO) prioritizes scalability, security, and decentralization. It is known for its proof-of-stake (PoS) consensus mechanism, which allows it to process transactions quickly and securely.
ChatGPT-4o noted that Algorand has been involved in various innovative projects, including developing central bank digital currencies (CBDCs). With its solid technological foundation and growing adoption in decentralized finance and traditional financial sectors, Algorand could see significant growth as these industries develop.
Regarding price movement, ALGO has recorded losses of 35% in 2024. By press time, the token was trading at $0.14, gaining over 23% on the weekly chart.
ALGO seven-day price chart. Source: Finbold
ChatGPT-4o pointed out that investing in cryptocurrencies is not without risks, as the market is highly volatile, with prices that can swing rapidly. The tool noted that diversification across different assets can help mitigate risk and provide a more balanced investment approach.
It also noted that monitoring undervalued assets like Chainlink, Polygon, and Algorand could offer significant opportunities for those willing to navigate market risks.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.