Is Cortex (CTXC) buy opportunity after the current dip?

2021-12-19 01:18

Cortex CTXC/USD has weakened from $1.43 to $0.26 since December 03, and the current price stands at $0.58.

The cryptocurrency market is losing its value this Friday; Bitcoin went below $47000, and the price of CTXC remains under pressure.

A platform that supports Artificial Intelligence

Cortex is a decentralized blockchain platform that supports Artificial Intelligence (AI) models to be uploaded and executed on the distributed network.

Before Cortex, there was no known way to execute on-chain machine learning models efficiently, while lots of people still don’t know that it is possible to run Artificial Intelligence (AI) on the blockchain. The team of Cortex added:

DApps that include machine learning models had to resort to off-chain inference, which defeats the purpose of smart contracts. Cortex has solved this problem – primarily via the CVM (which utilizes the GPU instead of CPU) and MRT (quantization and integer-only inference).

This project enables developers to use the popular language Solidity and off-the-shelf AI models on the Cortex storage layer to create AI-enhanced DApps and smart contracts.

Cortex is EVM-compatible with added support for on-chain AI inference and guarantees exactly the same AI inference result across heterogenetic computing environments.

Cortex has united forces of an incredibly vibrant community, many important projects already collaborated with Cortex, and the most popular ones include Amazon, Yahoo Finance, Poseidon Network, and Cmet.

Cortex tokens have the symbol CTXC, and to interact with this blockchain platform, you should use CTXC tokens.

CTXC plays an important role in the Cortex ecosystem, and you can buy it from exchanges or from wallets directly. CTXC has a max supply of 299.79 million tokens, while the current circulating supply is slightly above 10 million tokens.

Cortex is a very promising project, and the price of CTXC could advance again at levels that we saw at the beginning of December 2021.

Bears in control of CTXC

Cortex (CTXC) has weakened from its record high above $1.4, registered on December 03, to $0.26, while the current price stands at $0.58.

Data source: tradingview.com

The current support level for CTXC stands at $0.50, and if the price falls below it, the next price target could be around $0.40 or even below.

On the other side, if the price jumps above $0.80, it would be a strong “buy” signal, and we have the open way to a resistance level that stands at $1.

Summary

Cortex is a decentralized blockchain platform that enables individual AI developers to monetize their Artificial Intelligence (AI) models on the blockchain. Cortex is a very promising project, and the price of CTXC could advance again at levels that we saw at the beginning of December 2021.

The post Is Cortex (CTXC) buy opportunity after the current dip? appeared first on Invezz.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »