This Popular AI Cryptocurrency Explodes By 15% After Binance‘s Backing
TL;DR
- The leading AI-related cryptocurrency surged 15% in value after being listed on binance, but later adjusted to a lower price.
- The company warned users to conduct thorough research before entering the token ecosystem.
Bittensor (TAO), the largest AI-related cryptocurrency in terms of market cap, has experienced a significant price increase in the last hour, rising by 15% to hit a multi-week high of $690. However, it failed to maintain its momentum and is currently trading around $640 (according to CoinGecko data).
TAO Price, Source: CoinGecko
The revival came shortly after Binance listed the asset on its platform, allowing trading services for the following pairs: TAO/BTC, TAO/USDT, TAO/FDUSD, and TAO/TRY.
The company announced that users can start depositing money and withdrawals will be possible as of April 12. TAO listing fee is set at 0 BNB.
Recalling that the AI-related cryptocurrency is a relatively new entrant in the market, Binance warned users to do proper due diligence before dabbling in it:
The AI coins niche has become quite popular lately, with the total market capitalization exceeding $25 billion. Those who want to take a closer look at the top 5 tokens of this type can read our special article Here.
TAO’s biggest rival, Render (RNDR), recently witnessed a similar price increase following support from another leading cryptocurrency exchange. Like CryptoPotato reportedCoinbase placed the asset in its roadmap section and later allowed trading services with it.
SPECIAL OFFER (Sponsored)
LIMITED OFFER 2024 for CryptoPotato readers on Bybit: Use this link to sign up for Bybit Exchange for free and open a $500 BTC-USDT position!
#Popular #Cryptocurrency #Explodes #Binances #Backing