Algotech introduces AI to the crypto trading ecosystem, raises $3.2 million in first 3 weeks of its presale
Key takeaways
Algotech’s decentralized algorithmic trading platform is set to appeal to the fast-paced world of cryptocurrency trading.
The project is still in presale and has raised more than $3.3 million so far.
Real-world asset (RWA) tokenization, Artificial Intelligence (AI), GameFi, Layer-2 SocialFi. These are some of the leading narratives in the cryptocurrency space at the moment.
The last few months have seen several AI tokens record excellent gains. However, there hasn’t been much focus on AI in the cryptocurrency trading space. Algotech is embarking on this mission and intends to make a difference in the world of cryptocurrency trading with its technology.
What is Algotech?
Before we dig deeper into this project, we need to know what Algotech is. Algotech is a cutting-edge decentralized algorithmic trading platform designed specifically for the fast-paced world of cryptocurrency trading.
The platform has advanced algorithms and machine learning features, enabling it to help traders navigate the complex crypto markets efficiently, precisely, and accurately.
AI is gaining adoption thanks to the ease it carries out complex tasks. This is what Algotech is introducing to the crypto space. Algotech eliminates the limitations and challenges associated with manual trading thanks to its robust infrastructure and sophisticated trading strategies.
Furthermore, Algotech’s algorithms are fast, smart, and accurate, enabling traders to execute precise and consistent investment strategies.
Is Algotech’s technology ideal for crypto traders?
The total cryptocurrency market cap is approaching its all-time high of $3 trillion. This means that activity in the market is up to its 2021 levels. If the current trend continues, the market could see its total capitalisation soar higher in the coming months.
With rising trading volumes, cryptocurrency traders need an edge that would allow them to beat the market and make a profit. This is where Algotech comes in.
According to their whitepaper, the platform’s advanced algorithms analyze assets across over 1000 unique data points to identify the next breakout opportunities. Algotech’s algorithms have been trained on H100 GPUs to ensure traders can make split-second entry decisions for high-precision trading.
Secondly, the platform reduces risk for traders by monitoring market funding levels, availability, liquidity, and spread. Thanks to the AI-based trailing stops, it is now easy for traders to manage risk and protect their capital.
Furthermore, with Algotech and its advanced AI tools, users can easily identify arbitrage opportunities in different asset pairs and take automated entries. Finally, the tool provides access to trading strategies, community resources, and trading education. With these features, Algotech could be an ideal tool for crypto, forex, and stock traders.
Is Algotech a strong project?
When determining the strength of a project, there are certain criteria to look at. They include; technology, development team, and tokenomics. We already explained the technology and if the team rolls out its tools, it could gain massive adoption in the market.
In terms of tokenomics, Algotech could also be regarded as a strong project. Per their whitepaper, there would be a total supply of 350 million ALGT tokens. 10% of the tokens have been allocated to R&D and funding for testing, durability and performance on the current and new algorithms.
Another 10% for the support in promotion and bounty to partners. The founders will hold on to only 7% of the total supply while the team gets a 3% allocation. Finally, 70% of the total token supply is available for public sale (including marketing).
As an ERC-20 token, Algotech will offer holders a reward system that incentivises long-term investment and engagement. The token grants governance rights in the Algotech community, meaning each individual can affect the platform’s important decisions.
Should you buy into the Algotech project?
The Algotech presale is ongoing, and the project has raised more than $3.3 million in three weeks. The presale is in its second stage, with an 88% completion rate as of today. In this stage, the ALGT token is going for $0.06, with more than 86,000 tokens sold so far.
However, should you buy the ALGT token in its presale? And if you do, what is the token’s long-term potential?
The ALGT token will power the Algotech ecosystem. Algotech could gain massive adoption in the market thanks to the platform’s focus on lucrative trading strategies such as hedging, mean reversion, and trend-following.
Furthermore, the platform presents traders with multiple arbitrage strategies that enable the platform to earn profits by exploiting price discrepancies across several exchanges.
Token holders are entitled to a certain percentage of platform trading fees. They are also entitled to governance votes, proposals and potential airdrops in the future. With the right level of adoption, Algotech’s remarkable real-life utility could see ALGT’s price soar higher in the medium to long term and make it one of the biggest AI Coins in the DeFi space.
Read more about the Algotech presale here.
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