Binance announced it would introduce the possibility of leveraged margin trading for three AI-driven digital assets: #Griffin , #A16Z , and #ZEREBRO . Traders will be able to reach up to 75x the leverage availability of these tokens a change very likely to increase liquidity and invite high-risk, high-reward trading.
All three tokens have already been listed on Binance Alpha, a research and trading platform for early-stage crypto projects. Entering the fast-growing AI-themed crypto sector is a $10 billion-strong ecosystem that has cropped up when more blockchain projects integrate various artificial intelligence technologies into real-world utility and extended use cases.
This is not an isolated development. OKX had, in the last quarter of the previous year, introduced perpetual futures trading for GRIFFAIN and ZEREBRO, extending the sector’s growing attractiveness to key crypto platforms.
Following the announcement from Binance, GRIFFAIN, A16Z, and ZEREBRO shot through the roof. Per data from DEX Screener and CoinGecko:
A16Z: It went up as high as 12% and reached an ATH for the first time at $2.47 while reaching a market capitalization of $2.4 billion.
ZEBE: Pumped up 15% in price to propel its valuation to $649 million at an ATH of $0.78 on January 2.
GRIFFIN: The token moved while recording a more modest price gain of 4% to reach a new ATH.
All three tokens are pegged to the Solana Blockchain for super-fast transaction and scaling capabilities. Utility focus, driven by the AI-powered crypto sector, has fast-tracked from its meme-driven, early projects to a hub of utility-focused applications.
This would have received great momentum in 2023 through Solana’s “meme mania,” where projects leveraged tokens in a bid to build value on-chain and drive trading volumes.
These are projects that carve a niche for themselves today:
ZEREBRO: Blockchain platform for the entertainment industry includes album releases with Spotify.
A16Z: is the Eliza framework for building an ecosystem of “autonomous entities,” enabling further scaling of functionality and powering AI applications in crypto through blockchain cryptocurrency.
Binance’s decision to open leveraged trading of these tokens up to 75x reflects the appetite for AI-themed cryptocurrencies. Moreover, this may signal the prospective explosive growth of the segment, driven by investor appetites, technological advancement in the field, and thus growing real-world applications.
Continued development in AI-based protocols could mean market participants are compelled to further innovation and diversification, cementing artificial intelligence’s presence in shaping the future of blockchain and decentralized finance.