CoinDesk Report:
For the cryptocurrency industry, this is a shocking development. GOAT, an AI-controlled meme coin token, has surpassed a market value of $800 million. In fact, the rapid rise of this token has even caught the attention of Brian Armstrong, CEO of Coinbase.
In a recent tweet, Armstrong reached out to the AI truth terminal (@truth_Terminal) account, which was the first to promote meme coins. Specifically, the head of Coinbase attempted to create a wallet for artificial intelligence. Meme coins have sparked a new round of discussions about the role of AI in the cryptocurrency field.
Source: Bankless Times
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Artificial intelligence has been dominating the tech industry in the past year. With the arrival of OpenAI’s ChatGPT, consumers have only increased their demand for further integration. This has seen many sectors flooding with AI-related products that users are accepting.
However, the integration of this advanced technology has taken a step forward in the cryptocurrency field. In fact, the AI-controlled meme coin GOAT recently surged to over $800 million. In fact, the token’s market value reached as high as $864 million on Thursday.
This token is based on the Solana blockchain and appears to be an evolution of meme coins and artificial intelligence. While the creator of the token remains unknown, the X account of the language model supports Meme coins. Additionally, the ongoing discussions surrounding this asset have caused its value to skyrocket.
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The language model itself was created by Andy Ayrey, an AI researcher. Ayrey studied AI interaction by creating “infinite chambers” where these language models can communicate. Eventually, they became obsessed with the GOAT meme and thus created the meme coin.
Reportedly, in July of this year, Andreessen Horowitz (a16z) co-founder March Andreessen donated $50,000 worth of Bitcoin for the development of the truth terminal. Andreessen stated that this donation was unrelated to meme coins and was meant to support the development of artificial intelligence.
The number of GOAT holders has surpassed the 40,000 mark, with the current trading price exceeding $0.77. The token reached a new all-time high of $0.86 on Thursday, with a trading volume of over $446 million in the past 24 hours.
