The native token of Agentic AI platform ai16z has developed after its founder revealed details about the upcoming update to its AI operating system, Eliza.
ai16z (AI16Z) rose 35% to an intra-day high of $1.27 on January 14, as its market capitalization rose from $1 billion to almost $1.4 billion at the time, according to data from crypto.news. The rally was fueled by increased trading activity, with daily volume rising 33% to $646 million over the past day. The altcoin was also trending on CoinGecko.
This increase coincided with the overall crypto market’s recovery from a recent downturn, further boosting AI16Z’s price movement.
AI16Z gathered after the project’s founder, Shaw, shared details about the version 2 update for Eliza, the operating system that powers the Agentic AI platform Eliza.
The update will reportedly bring a range of advanced features including full autonomy for seamless operation, unified wallet abstraction for streamlined asset management, and an advanced plugin registry to support various integrations.
The rally got even stronger after the official technical whitepaper for Eliza was released on January 14.
Meanwhile, demand for the AI-powered meme coin has increased among derivatives traders. According to facts from CoinGlass, open interest in the AI16Z futures market has risen 10% over the past day to $193.9 million at the time of writing.
Whale investors, taking advantage of the recent AI Agentic hype, have also shifted their focus to AI16Z. According to an X after by Lookonchain, a whale recently withdrew 5.64 million AI16Z tokens, worth $6.37 million, from the centralized exchange Gate.io. This whale now has a total of 15.95 million AI16Z tokens, worth approximately $17.86 million.
Meanwhile, smart money investors have also reportedly started accumulating the token. See below.
Crypto investors typically view such accumulation trends as bullish, especially for altcoins with smaller market caps.
AI16Z’s technical data looks bullish
Technical indicators point to a possible extension of the current rally.
AI16Z’s price was above the 50-day moving average, meaning the bulls were still in control. This was confirmed by the Average Directional Line indicator, which showed a value of 40. A value above 25 usually indicates strong trend strength.
Furthermore, the histogram bars on the Moving Average Convergence Divergence bars became smaller, which is also a signal of a bullish reversal. Meanwhile, the Relative Strength Index stood at 47, indicating that the altcoin has plenty of room for gains before reaching the overbought zone.
