As a seasoned crypto investor with a keen interest in AI and Web3 technologies, I’m bullish on TARS Protocol (TAI) following the recent announcements of their ecosystem fund and incubation program. The potential for growth in this space is massive, as demonstrated by the success stories of Nvidia and Apple in the traditional tech world.
On Friday, the price of TARS Protocol rebounded following the introduction of an ecosystem fund by its developers, with the aim of expanding the network. Lately, TAI could be observed at a significant resistance point of $0.20, surpassing the intraday minimum of $0.15.
As a crypto investor, I’m excited to share that TARS Protocol has recently introduced an AI fund as part of their strategy to expand their presence in the industry. According to a recent announcement from the developers, they will be distributing 10 million TAI tokens, which currently equate to approximately $2 million in value.
TARS is making a groundbreaking move in the realm of AI technology with the introduction of the AI Fund. A substantial investment of $10,000,000 in $SAI will be allocated to building a sophisticated AI infrastructure directly on Solana. Our areas of focus include:— TARS AI 🤖 (@tarsprotocol) June 14, 2024
As a crypto investor, I would describe it this way: I’m putting my faith in a company that is actively investing in the development of innovative solutions across various sectors such as Decentralized Public Infrastructure (DePin), retail, finance, e-commerce, and more.
A few days following the launch of the TARS Incubation initiative by its creators, which aims to highlight Solana projects incorporating artificial intelligence (AI), it was announced that TARS Protocol has formed alliances with notable crypto industry players such as Bybit, DojoSwap, and BitPanda. In conjunction with this partnership with Bybit, TARS Protocol will distribute 10 million TAI tokens among approximately 37,000 successful applicants.
The TARS Protocol represents a fresh initiative on the Solana platform, intended to serve as a connection between artificial intelligence (AI) and Web3. This will be achieved by offering a unified solution for integrating AI-driven tools and services. With the global demand for AI solutions surging, companies like Nvidia, now valued at $3 trillion, and Apple, recently crowned as the world’s largest company following the introduction of its Apple Intelligence features, are testament to this trend.
As an analyst, I’ve observed that developers have been actively engaged in launching various AI projects. Among them, Fetch.ai stands out as the most prominent one. Notably, Fetch.ai, SingularityNET, and Ocean Protocol are set to merge in July, resulting in the creation of the largest AI platform within the blockchain industry.
TARS Protocol price forecast
As a crypto investor, I’ve been closely monitoring the 4-hour chart of TAI. Notably, I observed that TAI reached its peak at $0.2890 earlier in the week. However, following the trend of other altcoins, it retreated from this level.
As of the current news update, the price of the token is stabilizing around its 50-day and 25-day moving averages. The Moving Average Convergence Divergence (MACD) chart’s histogram has risen above the zero line, while the two MACD lines have formed a bullish crossover pattern.
The most significant observation about TAI is the development of a falling broadening wedge chart pattern, which is typically considered a bullish sign. Consequently, there’s a strong likelihood that the token will experience a bullish breakout, leading buyers to reach for the all-time high price of $0.2890. This perspective will be reinforced if TAI manages to surpass its key resistance level at $0.2090, which represents its highest point recorded on May 20th.
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2024-06-14 17:48