Binance shared plans to introduce leverage trading support for AI-based coins GRIFFAIN, A16Z and Zerebro.
Binance, the largest centralized crypto exchange, will launch margin contracts for artificial intelligence-based digital assets Griffain (GRIFFAIN), ai16z (AI16Z) and Zerebro (ZEREBRO) with up to 75x leverage.
The three tokens were already listed on Binance Alpha, a feature used for researching and trading early-stage crypto projects. OKX also launched perpetual futures trading for GRIFFAIN and ZEREBRO late last year.
The AI-themed crypto sector has been gaining momentum as one of the emerging trends in the industry. The ecosystem has reached $10 billion in value in just a few months, fueled by exchange listings and a surge in token all-time highs.
After Binance’s announcement on margin trading, the prices of GRIFFAIN, A16Z and ZEREBRO increased significantly. Data from DEX Screener and CoinGecko showed that A16Z gained over 12% to reach a new all-time high of $2.47 and a market cap of $2.4 billion.
ZEREBRO followed with a 15% price increase, reaching a valuation of $649 million. The token also hit a new high on January 2, reaching a high of $0.78. GRIFFAIN also reached a new high despite a more modest share price increase of 4%. All three tokens are traded on Solana (SOL).
AI protocols have evolved from meme tokens to projects with utility and infrastructure. This shift gained traction during last year’s Solana meme mania, with projects initially using tokens to create on-chain value, generate hype, and increase trading volume.
The nascent phase of the sector has evolved into real-world use cases. ZEREBRO, for…
