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Key Reason This AI Crypto Price Soared by 700%

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Sat, 2/12/2023 - 11:47
Key Reason This AI Crypto Price Soared by 700%
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While the euphoria around AI cryptocurrencies shows no signs of exhaustion, the majority of so-called "AI coins" are just riding the overhyped narrative. However, some of them underpin projects that attempt to streamline tech development via AI elements.

AI crypto Tau (AGRS) logs new all-time high: It rallied by 20x in 30 days

The price of Tau (AGRS), a prominent artificial intelligence project, has set a new record today, Dec. 2, 2023. The AGRS crypto price surged above $5.05 on the largest DEX Uniswap V3. AGRS is available in pairs with Ethereum (ETH) and the U.S. Dollar Tether (USDT) stablecoin.

AGRS price spikes above $5
Image by CoinMarketCap

In the last 30 days, its price surged from circa $0.5. The aggregated market capitalization of the AI cryptocurrency jumped over $90 million, making it one of the top 25 AI cryptos by market cap, as per CoinMarketCap data.

Yesterday, Dec. 1, 2023, the price of AGRS demonstrated the most impressive upsurge: Its capitalization doubled in just eight hours.

In the last days, the Tau platform accomplished a number of major tech development and community building milestones. On Nov. 20, it released a pre-alpha of its native parsing instrument, Tau Parser.

Also, Tau secured a provisional patent titled "A Method and System for Arbitrary Attestation to Anonymous Internet Users," which is of paramount importance for decentralized governance systems of the future and DAOs of various types.

AI cryptos segment surges, targets $15 billion cap

In general, Tau promotes itself as an AI-powered software development tool. It is said to be addressing the main bottlenecks associated with AI code writing instruments by Microsoft and OpenAI:

ChatGPT showed the world’s eyes that the software development experience can be for everyone. But, that experience is flawed. You still need to be a developer as code isn’t always accurate or complete. Tau is ChatGPT for software, but correct.

The project is helmed by CTO Ohad Asor and CEO Fola Adejumo.

Meanwhile, the rest of AI cryptocurrencies also perform well. In the last 24 hours, the segment outperformed the entire blockchain market: The total cap of AI cryptos surged by over 1.5%.

Related
Top AI Cryptos You Should Know in 2023

Besides AGRS, VXV and GNY are the best performers, while some majors, including Sidus (SIDUS), Injective (INJ), Oasis (OASIS) and Bittensor (TAO), are in the red.

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