Cryptocurrencies To Watch: Week of Feb. 6

investopedia.com:

The cryptocurrency market's recent momentum subsided a bit in the latest week as Bitcoin fell back to about $22,000.While that's an improvement from where the market was trading a few months ago, there may be a few more resistance points to break through before the market can enter a bull run. Still, there some crypto tokens are outperforming the market.

This week, we examine SingularityNET (AGIX), Render Token (RNDR), MAGIC (MAGIC), Shiba Inu (SHIB), and The Graph (GRT). In selecting these assets, we have considered several factors, including positive technical developments, significant news events, and noticeable changes in price.

SingularityNET (AGIX), a project focused on decentralized AI, is feeding off growing interest in free chatbot ChatGPT.The project's AGIX token recorded a 150% jump in price in the week, possibly due to the curiosity and influx of ChatGPT users.The token is priced at around 44 cents (see chart below).

SingularityNET allows users to browse and pay for AI services using the AGIX currency. It is essentially a decentralized marketplace for AI and is seeing heavy development in its ecosystem.

AGIX (TradingView)

Render Token's price jumped 51% over the past week, probably because of two major developments.First, the project implemented a new tokenomics model called Burn Mint Equilibrium (BME).It also launched the Render Network Foundation, a non-profit that is “dedicated to maintaining the core Render Network protocol and growing its community and ecosystem.”

Render allows users to render 3D designs through a distributed network. The RNDR token is used to pay for the service. RNDR began last week at $1.19 and is now valued at around $1.90 (see chart below).

RNDR (TradingView)

MAGIC (MAGIC) is a