This Popular AI Cryptocurrency Explodes by 15% Following Support From Binance

TL;DR

• The leading AI-related cryptocurrency experienced a 15% increase in value after being listed on Binance, but later adjusted to a lower price.
• The company alerted users to conduct thorough research before entering the ecosystem of the token.

Bittensor (TAO) – the biggest AI-related cryptocurrency in terms of market capitalization – experienced a significant price boost in the past hour, rising by 15% and reaching a multi-week high of $690. However, it could not keep the momentum, currently trading at around $640 (per CoinGecko’s data).

The resurgence happened 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 explained that users can start depositing, while withdrawals will be available from April 12. TAO listing fee was set at 0 BNB.

Binance reminded that the AI-related cryptocurrency is a relatively new participant in the market, warning users to conduct proper due diligence before dealing with it:

“Please ensure that you exercise sufficient risk management, have done your own research in regards to TAO’s fundamentals, and fully understand the project before opting to trade the token.”

The Artificial Intelligence coins niche has been highly popular lately, accounting for a total market cap of over $25 billion. Those willing to take a closer look at the top 5 tokens of that type can read our dedicated article here.

TAO’s biggest rival – Render (RNDR) – recently witnessed a similar price rally following support from another leading cryptocurrency exchange. As CryptoPotato reported, Coinbase placed the asset on its roadmap section and later allowed trading services with it.