OORT (OORT), an artificial intelligence (AI)-powered cryptocurrency, has seen its price surge 85% in the past week. This surge came after a post by former Binance CEO Changpeng Zhao (CZ) highlighted the potential of AI in the BNB Greenfield ecosystem.
Following the altcoin’s rally, sentiment around it has turned bullish. But why did this happen, and will the price of OORT continue to rise? This analysis reveals everything there is to know about it.
OORT surges after CZ talks AI at BNB Greenfield
On Wednesday (27), CZ posted on X (formerly Twitter) that AI should be frequently used on-chain. In the post, the former executive highlighted that this could promote low transaction costs globally while offering BNB Greenfield for data storage during the process.
AI tagging (or AI data in general) is well suited to being done on-chain. Leverage low cost labor globally without geographic bias, pay them instantly in crypto. BNB Chain Greenfield provides the storage capacity. We still need to build more tools. Let's build them, Zhao wrote.
Minutes after the post, the OORT price spiked from $0.10 to $0.85.
Volume of OORT. Font: Santiment
This dramatic price increase could be linked to OORT’s integration with BNB Greenfield, a decentralized storage platform hosted on the BNB Chain. In addition to the price increase, the development has boosted the AI-themed altcoin’s volume to $13 million, indicating increased interest in it.
However, at the time of writing, the price has dropped to $0.15 while the volume has also decreased to $7.05 million.
OORT Price Prediction: Recovery to $0.20 Possible
The OORT/US$ daily chart reveals that Bull Bear Power (BBP) has moved into positive territory, indicating that buyers (bulls) currently have the upper hand over sellers (bears).
When the BBP is negative, bears dominate, often leading to price declines. However, in this case, the strength of the bulls suggests a potential recovery in the OORT price, with data also suggesting that it may have a strong correlation with the BNB price.
OORT Daily Analysis. Source: TradingView
If the buying pressure persists, the Fibonacci retracement indicator suggests that the altcoin could rise to $0.20. On the other hand, if the interest in the AI coin wanes, the price could drop to $0.11. Instead, the value could drop to $0.11.
The article CZ posts on X and drives 85% rise in OORT price appeared first on BeInCrypto Brasil.