- ai16z’s native token surged over 70% amid plans to launch its own Layer-1 blockchain for AI applications
- The rally was fueled by increased trading activity, growing hype around AI agents, and whale accumulation of ai16z tokens
- The project’s plans to introduce a token launchpad in Q1 2025 for deploying AI projects built on its Eliza framework further boosted investor sentiment
The Agentic AI platform’s native token, ai16z, has experienced a significant rally following the announcement of the project’s plans to launch its own Layer-1 blockchain, with its value soaring over 70%. This has been met with a surge of buying from ‘whale’ investors, pushing its market cap from $1.4 billion to over $2.4 billion.
The Factors behind ai16z’s Recent Rally
The recent rally of ai16z has been driven by several catalysts. The major standout is its plans to launch an open-source Layer-1 blockchain specifically tailored for AI applications. This is a major step in the platform’s tokenomics revamp. Additionally, ai16z has announced plans to introduce a token launchpad in Q1 2025, which will become the primary platform for deploying AI projects built on the Eliza framework, the project’s AI operating system.
The Dual Role of ai16z Token
The ai16z token is anticipated to play a dual role, functioning as both a governance token within the DAO and as a utility token for platform activities. This has increased investor sentiment, evident in the rise of Eliza over Google Gemini to become the world’s top AI repository on GitHub. Consequently, the AI token trended on Google and secured a top spot on CoinGecko.
Whale Accumulation of ai16z Tokens
The past week saw increased whale accumulation of ai16z tokens, which further fueled the crypto’s rally. As per a Dec 31 post by Lookonchain, two wallets, likely owned by the same whale, purchased 26.2 million of ai16z tokens for 22,641 SOL, amounting to around $43.4 million. Another whale acquired 11.9 million ai16z tokens for 16.5 million USDC at an average price of 1.39 per token.
Predictions for ai16z
Experts in the market predict that ai16z could surpass other AI heavyweights like Virtuals Protocol. Daniel Cheung, a partner at crypto VC Syncracy Capital, projects that the recent developments have positioned ai16z to surpass VIRTUAL, the largest AI agent creation tool by market cap.
Conclusion
The surge of ai16z, driven by its plans to introduce an open-source Layer-1 blockchain and the launch of a token launchpad, has caught the attention of whale investors. With increased engagement with its codebase and the dual role of its token, ai16z is poised to make significant strides in the AI and crypto market.
