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Cardano Ecosystem

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11/27/2023

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Cardano: AI Chatbot Starts Beta, ADA Price Eyes 22% Uptick

CardanoGPT has officially announced the beta launch of its AI-powered chatbot, Girolamo. This initiative marks a substantial advancement in the integration of artificial intelligence (AI) technologies with...

Cardano: AI Chatbot Starts Beta, ADA Price Eyes 22% Uptick

CardanoGPT has officially announced the beta launch of its AI-powered chatbot, Girolamo. This initiative marks a substantial advancement in the integration of artificial intelligence (AI) technologies with the Cardano blockchain ecosystem. Named after the influential Italian mathematician Girolamo Cardano, the chatbot intends to symbolize the fusion of historical intellectual legacy with contemporary technological innovation.

Girolamo is engineered to provide a range of functionalities, including content generation, image generation, and image interpretation, which are tailored to accommodate diverse user inquiries. This suite of capabilities enables the chatbot to offer real-time, contextually aware responses, extending its utility beyond standard blockchain applications. The inclusion of image-related functionalities represents a significant technological stride, enhancing the interactive experience and broadening the scope of its applicability.

To participate in the beta testing phase of Girolamo, users are required to hold a minimum of 5000 CGI tokens, as outlined by CardanoGPT. Access to the chatbot is facilitated through the CardanoGPT Discord server, where users undergo a wallet verification process. Upon successful verification, users are granted the @cyborg role, enabling them to interact directly with Girolamo in the designated chat channel.

CardanoGPT’s announcement emphasizes that Girolamo is still in its beta phase, suggesting ongoing development and potential enhancements. This phase is critical for assessing the chatbot’s performance, user experience, and overall functionality within the Cardano ecosystem. The company has highlighted its commitment to continuous innovation and development, aiming to maintain a leading position in the convergence of AI and blockchain technology.

Cardano Price Poised For 22% Surge?

ADA has seen a strong upward trend since breaking out of the downward trend (black line) on October 21, which has caused the price to rise by over 60%. For the past two weeks, however, the rally has come to a standstill. The price is in a consolidation after the ADA was rejected at the 0.786 Fibonacci retracement level at $0.411.

However, the AI narrative and potential hype in this market segment could be significantly bullish for the Cardano price once the launch of Girolamo is on the horizon. AI tokens have seen some sharp price movements over the past few months, driven by news around the progress of OpenAI and other companies.

In the short term, the ADA price may need a retest of support at the 0.618 Fibonacci retracement level at $0.37 to herald the next upward move. Remarkably, the price level is of double importance as the 20-day exponential moving average is also at this price level.

If this price level is defended in the next few days, it could be the precursor to the next move higher. The obvious target would be the yearly high at $0.463. Reaching this price would mean a 22% rally from the current price.

Cardano ADA price
ADA price consolidates below the 0.786 Fib, 1-day chart | Source: ADAUSD on TradingView.com

Featured image from Shutterstock, chart from TradingView.com

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has nurtured an unwavering passion for Bitcoin since 2016. Delving deep into the crypto world daily, he disseminates his profound insights and expertise to readers and the wider community. Jake is a firm believer in Bitcoin's transformative power over the conventional fiat currency system. Holding a degree in Business Informatics, Jake has been entrenched in the blockchain and crypto professionally since his graduation in 2017. Engage with his latest takes on Twitter: @realJakeSimmons.

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