Elon Musk’s X.AI Crypto Increase by 780% ; X.AI Also Boots Crypto AI Tokens

 

The price of a token that has nothing to do with Elon Musk’s new cryptocurrency, xAI, has exploded since its release.

 

In just 24 hours, the value of one token of the XAI cryptocurrency rose by a whopping 780%. Elon Musk, the founder of Tesla and SpaceX, has launched a new artificial intelligence project called xAI. The new venture is part of the “X” brand family, which already includes companies like Tesla. Musk said the new project’s objective is to “understand reality.” The launch of XAI, a strange and unrelated crypto coin, caused its value to increase.

 

 

 

 

 

The Value of X.AI Jumps 780%

 

After Musk introduced xAI, the value of a token for the cryptocurrency rose from $0.0000000010 to $0.0000000088, a 780% gain. After a 50% decrease, the coin is now trading at around $0.001305.

 

 

 

The cryptocurrency markets’ recent excitement is not the first time news about Elon Musk has done so. The billionaire’s statements have caused significant price swings in Dogecoin (DOGE) on multiple occasions. Musk’s new venture will feature multiple tokens rising in value, not only XAI.

 

 

 

 

Download App for Android

Download App for iOS

AI Tokens Price Spikes after Elon Musk’s Tweet

 

 

On Wednesday, after Elon Musk unveiled xAI, a new artificial intelligence (AI) startup that would compete with ChatGPT, a popular chatbot, cryptocurrency tokens tied to AI saw a surge of more than 3 percent.

 

SingularityNET (AGIX) and Fetch.ai (FET) tokens, for example, both saw increases of over 6% and over 3% after the new company with a mission to “understand the true nature of the universe” was introduced. Musk will be in charge of the team, which features alumni of DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto, as stated on the company website.

 

 

 

Will X.AI Replace ChatGPT ?

 

 

Musk will take charge of the undertaking. The xAI group has a wealth of experience between them, with members having previously worked at places like DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto.

 

The chosen moniker, xAI, is an homage to Musk’s previous work, most notably X.com. When it debuted in December 1999, X.com was at the forefront of what would become the modern Internet banking industry. Ironically, in March of 2000, it merged with PayPal Holdings Inc, another company Musk co-founded, before eventually going its own way. For his most recent endeavour, Musk acquired the X.com domain name from PayPal in 2017.

 

 

 

 

Look More:How to Deposit Crypto on BTCC?

 

 

 

Download App for Android

Download App for iOS

How to Trade Crypto Futures on BTCC ?

 

To trade crypto on BTCC, follow these simple steps:

 

• Create an account

 

Go to the BTCC website and fill out the registration form with the necessary details. Finish the checks to make sure you’re in line with the stock exchange’s rules.

 

 

• Deposit funds

Fund your BTCC wallet once your account has been created and verified. You can fund your BTCC account with a number of different cryptocurrencies and fiat currencies.

 

 

• Navigate to the crypto trading section

 

You can begin trading on the BTCC platform as soon as your account has been funded. Find the crypto exchange rate, which is written as crypto/Bitcoin (BTC) or crypto/US Dollar (USDT) depending on the other pairs available.s.

 

 

• Choose your trading type

Both spot trading and futures trading are available through BTCC. If you want to purchase or sell crypto tokens at the current market price, you may want to investigate spot trading. If you’d rather trade crypto with leverage and speculate on its price movements, you can do so with crypto Futures.

 

 

 

• Place your trade

After deciding which type of deal you want to make, you can enter the amount of crypto you like to buy or sell, as well as your preferred price (if necessary). If everything checks out, go ahead and make the deal.

 

 

• Monitor and manage your trades

 

Be sure to monitor your crypto holdings on the BTCC exchange. To limit losses and protect gains, you can use stop-loss and take-profit orders. It is also important to keep up with the latest crypto market trends and news if you want to successfully trade this cryptocurrency.

 

 

Before becoming involved in any kind of trading, make sure you’ve done your homework. Due to the extreme volatility of the cryptocurrency markets, it is crucial to have a well-defined trading strategy and risk management framework in place. To successfully trade crypto on the BTCC market and take advantage of the chances it provides, follow these procedures and keep yourself updated.

 

Look More:How to Deposit Crypto on BTCC?