AI Cryptos Seem To Be On An Uptrend Again — Bittensor (TAO) & Toncoin (TON) In The Lead

The AI cryptos space is witnessing a strong revival again. This resurgence is propelling notable increases in value for projects that are pioneers in incorporating AI technology, with Bittensor (TAO) and Toncoin (TON) taking the lead. As of April 11, 2024, both the TAO and TON tokens saw impressive price jumps during trading hours in Asia.

The momentum for AI cryptos in the digital assets world has been building since 2023, with this trend gaining even more traction in 2024. Furthermore, a recent analysis by CoinGecko highlights AI as one of the cryptocurrency market’s most lucrative themes in the first quarter of the year, boasting a return of 222%.

AI Cryptos Impact Both Digital And Physical Worlds

The adaptability of AI has paved the way for its adoption across various sectors, including stablecoin giant Tether, which is delving into AI integration. Paolo Ardoino, Tether’s CEO, shared the company’s ambition to make AI technology widely accessible, aiming to stimulate innovation and expand its reach. Ardoino emphasized AI’s significant role across both digital and physical realms.

He announced the creation of a new division within Tether aimed at pushing the limits of AI, promoting the use of privacy-centric open AI technology, and establishing new standards in innovation, functionality, and openness.

Despite the general enthusiasm for AI cryptos, not everyone is convinced of its future impact. Analyst Gary Shilling has expressed reservations about AI’s ability to fundamentally change industries, questioning the efficacy of devoting vast amounts of computational resources to pattern identification.

This skepticism stands in stark contrast to the rising share prices of technology behemoths like Nvidia and Microsoft, which are benefiting from the anticipated role of AI in enhancing productivity and driving economic expansion.

The narrative of AI’s integration with blockchain technology is evolving, demonstrated by the accomplishments of Bittensor and Toncoin, which illustrate the transformative potential of these technologies in reshaping financial concepts. With its tradition of pioneering innovation, the cryptocurrency sector seems ready for another breakthrough, driven by the merging of AI and blockchain technology.

Toncoin (TON) And Bittensor (TAO) Leading The AI Cryptos

TAO, the native token of Bittensor, experienced a significant price surge after it was announced that it would be listed on the major cryptocurrency exchange, Binance.

Binance is set to launch spot trading for TAO with several currency pairs including TAO/BTC, TAO/USDT, TAO/FDUSD, and TAO/TRY, effective from April 11, 2024, at 12.00 UTC. The exchange has also assigned a “Seed Tag” to TAO, signaling a warning of potential higher volatility and risks for traders.

Following the listing announcement, TAO’s value spiked by about 16%, reaching a high of $690 within an hour before settling back to $626 at the time of this report, reflecting strong market interest.

Bittensor, known for its innovative integration of AI and blockchain technology, is a P2P machine learning protocol that facilitates the distributed training and operation of AI models, positioning itself alongside other cutting-edge projects like Fetch.ai.

Meanwhile, Toncoin set a new record by reaching an all-time high of $7.63, surpassing its previous records for two days straight. BeInCrypto noted that on April 10, 2024, TON’s market cap exceeded that of Cardano after breaking the $7 threshold.

The growth of Toncoin is partly driven by its venture into AI-centric projects, including a palm-scanning initiative developed with Human Code. Additionally, a $5 million incentive scheme for AI developers is enhancing Toncoin’s appeal to investors.