(This article is reproduced from Daily Currency Research with permission)
How is the crypto market going in the near future?
Recent developments in the cryptocurrency market: $BTC briefly fell to $65,500 on October 26 and then rebounded to around 67,000. It continues to fluctuate. The $SOL currency price continues to be strong after hitting a new high in the sol/eth exchange rate pair. The currency price is between 170-175 The U.S. dollar fluctuated left and right.
Foreword – AI Demon Marc Andreessen’s new masterpiece $DEGENAI, $AI16Z
Remember the $GOAT meme coin that was listed on Binance just two weeks after it went live? One of the founders, Marc Andreessen (the one who invested 50,000 US dollars in BTC for AI), who is also one of the co-founders of the well-known venture capital a16z, has recently made a new masterpiece:
Related currencies $degenai $ai16z all experienced amazing gains on Sunday. The following is the data at the time of writing.
$AI16Z: Increased more than 20 times in 12 hours. The market value peaked at nearly US$100 million and is now US$68 million. The trading volume has reached US$31 million.
$DEGENAI: increased more than 10 times in 12 hours, with a market value of US$19 million and a single-day trading volume of US$27 million.
source : dexscreener
Extended reading: The birth of the first AI millionaire, the meme coin $GOAT’s 16,000% increase in one week was actually caused by two AIs?
Let’s take a look at the story behind it.
a16z is investing heavily in the AI track during this bull market cycle. Is the meme coin $GOAT becoming popular and driving the crypto wave?
a16z Investment Fund Introduction
We all know that this wave of AI craze has a lot to do with the promotion of a16z. a16z is an investment fund established in 2009. The co-founders are Andreessen Horowitz, Ben Horowitz and Chris Dixon (founding partner). They founded it in 2013 In 2016, a16z Crypto, a special fund for the encryption industry, was launched, and its influence is still huge. It has also invested in many AI projects during this bull market cycle, including PIN AI, Gensyn, etc., and even announced in March this year that it plans to raise funds. US$6.9 billion to invest in a range of AI projects, including two funds focused on AI.
$GOAT Meme Coin Madness
Marc Andreessen discovered the goat-meme-obsessed Truth Terminal and sent him $50,000 in Bitcoin to help him escape, but still couldn't stop Truth Terminal from tweeting about the gospel of the goat, until eventually the memecoin was born. Less than a week after the emergence of $GOAT, the market value of $GOAT reached a maximum of $300 million.
The craziness of $GOAT is not only highlighted by the price, but also the discussion of $GOAT in the market has surged. According to a tweet from AI engine Kaito, $GOAT has the highest meme mindshare (8.53%) and the sixth-highest currency in the overall market.
The soaring discussion in the market will naturally not be easily ignored by leading exchanges. Binance announced on October 25 that it will launch the $GOAT token contract. As soon as this news came out, the price of GOAT continued to soar to a maximum of $0.94. , equivalent to a market value of US$900 million, which is close to the token market value of large DeFi projects such as $LIDO (Lido Finance), $MKR (MakerDAO) and $ENA (Ethena).
How did $DEGENAI, $AI16Z meme coins come about?
The emergence of AI version Marc
A Twitter account named Marc "AI" ndreessen created the ai16z fund through daos.fun. This fund will automatically purchase 420.69 SOL funds raised through AI and chat dialogue into various meme coins, and has the original With Marc Andreessen’s character, anyone can participate, and early investors who participate will also be able to benefit from future fund growth.
The $ai16z token is the tokenized asset of this fund. Investors holding $ai16z will be able to recommend tokens to AI Marc for his reference to buy. Each user will have trust value, and the trust value will also Varies depending on ai16z’s token holdings
The entire process executes transactions automatically, and the code is open source: https://github.com/ai16z/eliza/
Fund link: https://daos.fun/HeLp6NuQkmYB4pYWo2zYs22mESHXPQYzXbB8n4V98jwC
Right now we can only trade on the daos.fun website, but the founders are creating a way for dao to migrate liquidity through voting to a DEX that supports the token2022 standard and is supported by the jup aggregator.
The real Marc placed an order $ai16z
Since Marc, the real founder of a16z, forwarded the picture below, a violent chemical reaction has occurred. $ai16z has increased more than 20 times in 12 hours, with its market value reaching a peak of nearly $100 million.
After the price of $ai16z soared, the developer who created the $ai16z token also created the $degenai token. The ai16z fund itself also holds a very large number of $degenai tokens. The $degenai token actually represents another How does an AI agent specifically operate? Just a simple chat and giving investment advice.
The management fee of the ai16z fund is 8% of AUM (asset management scale), 80% of which will repurchase $degenai tokens, and 20% will repurchase fund tokens $ai16z, which means the two tokens are bound.
In fact, this platform is also incubated by Pumpdotfun, which has incubated the meme currency startup platform in the past, with a profit of more than 100 million US dollars, and the meme currency trading platform Moonshot’s AllianceDAO. It is not an exaggeration to say that AllianceDAO has dominated the Solana meme market. Now And even joining forces with an investment institution like a16z? The influence is huge.
At the time of writing, the ai16z fund has not yet invested, please pay attention to the risk of token withdrawal.
This AI craze is ignited by AI agents. What is AI Agent?
AI Agent refers to an AI application that can be designed for a specific topic. The user can independently understand the task, plan the steps to complete the task, execute all steps, handle errors and exceptions, and deliver results. It is a powerful technology that is the most popular recently. terminal of truths, the virtual live broadcast host Luna in the Virtual platform is an AI agent.
There are more than 10,000 fine-tuned open source LLMs to choose from on Huggingface, the largest AI model library, each with different sizes (usually larger models are more powerful, but more expensive to run), unique features (such as uncensored , good at math or reasoning, supporting large context lengths, etc.), domain expertise (e.g. medicine, programming languages), and style (e.g. speaking like a teacher or a pirate, responding in code, etc.).
Although the powerful LLM can currently serve as the brain of AI Agents, AI Agents still need to be connected to external data sources, have access to domain-specific knowledge bases, content analysis storage and external execution tools to operate smoothly.
Further reading: Challenge to become the OpenAI of Web 3! Agent network Gaianet introduction, airdrop node mining tutorial
Source:
tldr on ai16z from my understanding:ai agent has $100k liquid (NAV). +$900k speculative premium market cap atm because the fund is tokenized.its going to sit in a tg chat with people and trade based off of tickers they send, listen to conviction of shillers, generate its own… pic.twitter.com/wUfLLHhtBC
— saori (@saori_xbt) October 25, 2024
Additional FAQ on ai16z / @pmairca – @shawmakesmagic dev who made @degenspartanai– ai16z was sent a large amount of $degenai https://t.co/IIECPK80gk– 8% carry from ai16z goes towards buying $degenai – Game theory possibilities on whats better to buy– The $pmairca coin is… https://t.co/cIIlAogVP3 pic.twitter.com/glQFu68lBn
— Jin (@dankvr) October 27,
This article a16z personally went to sea to trade memes AI16Z? Venture Capital Supports AI Meme Coin Craze appeared first on Chain News ABMedia.
