• Binance plans to launch leverage trading support for AI-based coins GRIFFAIN, AI16Z, and Zerebro with up to 75x leverage
• The prices of GRIFFAIN, AI16Z, and ZEREBRO rose significantly after Binance’s announcement, with AI16Z increasing by over 12% to hit a new all-time high
• The AI crypto sector has gained momentum, reaching a $10 billion valuation within months, driven by exchange listings and surging token prices
Leading cryptocurrency exchange Binance has unveiled exciting plans to introduce leverage trading for three AI-powered digital tokens: GRIFFAIN, AI16Z, and Zerebro. This development will provide traders with the opportunity to leverage their positions up to 75 times, a move that could significantly boost the trading volumes of these tokens.
AI-Based Tokens and Leverage Trading
Binance has announced its plans to kickstart leverage trading for AI-based coins GRIFFAIN, AI16Z, and Zerebro. As the world’s largest centralized crypto exchange, Binance is set to roll out margin contracts for these artificial intelligence-enabled digital assets. The introduction of up to 75x leverage could potentially enhance the trading experience for crypto enthusiasts and traders.
Previous Listings and Features
The three digital assets in question have already been listed on Binance Alpha, a feature dedicated to researching and trading early-stage crypto projects. OKX, another prominent crypto exchange, also hopped on the bandwagon and launched perpetual futures trading for GRIFFAIN and ZEREBRO last year.
The AI-Themed Crypto Sector’s Growth
The AI-themed crypto sector has been gaining momentum as an emerging trend in the industry. This ecosystem has seen a massive surge in its valuation, crossing the $10 billion mark in just a few months. This growth has been fueled by exchange listings and all-time high token prices.
Price Impact Post Announcement
Following the announcement of margin trading by Binance, the prices of GRIFFAIN, AI16Z, and ZEREBRO witnessed significant hikes. Data from DEX Screener and CoinGecko revealed an over 12% increase in the price of AI16Z, reaching a new all-time high of 2.47 and achieving a market cap of $2.4 billion.
AI Protocols Transitioning from Meme Tokens
AI protocols have managed to transition from being mere meme tokens to projects with real-world utility and infrastructure. This shift became particularly noticeable during last year’s Solana meme mania when several projects leveraged their tokens to create on-chain value, generate hype, and skyrocket trading volumes.
Real-World Use Cases of AI-Powered Projects
The genesis phase of the sector has evolved into real-world use cases. For instance, ZEREBRO has pivoted towards entertainment, including Spotify Albums, highlighting its real-world application. Meanwhile, AI16Z’s Eliza framework is fueling an ecosystem of autonomous entities, emphasizing the growing utility of AI-powered projects.
Conclusion
Binance’s plan to launch leverage trading support for AI-based coins GRIFFAIN, AI16Z, and Zerebro represents a significant step in the evolution of the crypto industry. As AI protocols transition from meme tokens to projects with real-world applications, we can anticipate a surge in the popularity and trading volumes of these tokens. This development also underscores the growing utility and significance of AI in the world of cryptocurrency.
