Under-the-radar AI Agent Defies Crypto Market Downturn Amid Plans for Major Tokenomic Upgrades

An under-the-radar challenge centered on synthetic intelligence (AI) is defying the crypto market’s downturn as tokenomic improve plans start to take form.

The utility token for the AI ​​agent challenge ai16z (AI16Z) is buying and selling at $1.52 on the time of writing, up 23.7% within the final 24 hours.

With a market cap of $1.65 billion, the Solana (SOL)-based altcoin is the 79th largest crypto challenge.

In the meantime, Bitcoin (BTC) is down nearly 2% on the day, buying and selling at $91,998 on the time of writing. The whole crypto market cap is valued at $3.36 trillion on the time of writing, down 3.4% prior to now 24 hours.

The market energy of ai16z comes from the truth that the challenge proposes a brand new one symbolic plan that goals to extend the worth of the utility token by higher using the advantages of the ecosystem’s AI agent often known as Eliza.

“The important thing problem is that whereas the Eliza agent framework is flourishing by way of adoption and technical innovation, the ai16z token at the moment lacks robust mechanisms to generate worth, resulting in poorly aligned incentives. The companions acknowledge that this should change to keep up ai16z’s momentum…

Total, there’s a robust consensus that main tokenomic upgrades are urgently wanted to higher seize the worth Eliza creates. An official launch pad is the main proposal, however with wholesome debate concerning the particulars and tradeoffs.”

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Featured picture: Shutterstock/jiang jie feng/Andy Chipus