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crypto.news 2025-01-14 13:43:36

Here’s why ai16Z surged over 35% today

Agentic AI platform ai16z’s native token has rallied after its founder revealed details about the upcoming update to its AI operating system, Eliza. ai16z ( AI16Z ) rose 35% to an intra-day high of $1.27 on Jan. 14, while its market cap surged from $1 billion to nearly $1.4 billion at that time, per data from crypto.news. The rally was fueled by heightened trading activity, with its daily volume jumping 33% over the past day to $646 million. The altcoin was also trending on CoinGecko. This surge coincided with the overall crypto market recovering from a recent downturn , adding further momentum to AI16Z’s price movement. AI16Z rallied after the project’s founder, Shaw, shared details about the version 2 update to Eliza, the operating system powering the Agentic AI platform Eliza. The update will reportedly deliver a suite of advanced features, including full autonomy for seamless operation, unified wallet abstraction for streamlined asset management, and a sophisticated plugin registry to support diverse integrations. The rally further gained strength after the official technical whitepaper for Eliza was released on Jan. 14. Meanwhile, demand for the AI-powered meme coin has increased among derivative traders. According to data from CoinGlass, the open interest in the AI16Z futures market rose by 10% over the past day to $193.9 million at the time of writing. Whale investors, capitalizing on the recent AI Agentic hype, have also shifted their focus to AI16Z. According to an X post by Lookonchain, a whale recently withdrew 5.64 million AI16Z tokens, valued at $6.37 million, from the centralized exchange Gate.io. This whale now holds a total of 15.95 million AI16Z tokens, worth approximately $17.86 million. Meanwhile, smart money investors have reportedly started accumulating the token as well. See below. These tokens received the largest inflows from Smart Money in the past hour: Fartcoin – $242K ai16z – $196K $MACK – $50K $UFD – $31K $LLM – $25K data: @nansen_ai pic.twitter.com/jH1IZfoZb6 — ElonMoney (@0xelonmoney) January 14, 2025 Crypto investors usually view such accumulation trends as bullish, especially for altcoins with smaller market caps. You might also like: Pepe coin price could be at risk as a dangerous pattern forms AI16Z technicals look bullish Technical indicators point to a potential extension of the current rally. AI16Z price, 50-day EMA and ADX chart | Source: crypto.news AI16Z’s price was positioned above the 50-day Moving Average, which means bulls were still in control. This was confirmed by the Average Directional Line indicator, which showed a reading of 40. Typically, a reading above 25 signals strong trend strength. AI16Z MACD and RSI chart | Source: crypto.news Further, the histogram bars on the Moving Average Convergence Divergence bars were diminishing in size, which is also a signal for a bullish reversal. Meanwhile, the Relative Strength Index was at 47, which indicates that the altcoin has plenty of room for gains before hitting the overbought zone. Read more: AI Agents notch 16% dip, biggest drawdown amid market correction

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