Here’s why the TARS AI token price is soaring

TARS AI, a Solana-backed artificial intelligence infrastructure provider, was one of the top-performing tokens on Aug. 20.

TARS (TAI) token rose by 14.45%, continuing an uptrend that began on Aug. 15 when it bottomed at $0.990. The token’s rise followed hints from developers about four new AI products they plan to release in the next 30-60 days in partnership with Google.

Earlier this year, TARS was accepted into the Google Startup Program.

Some of our team members spent some time at Google for 4 upcoming AI products that we will be releasing in the next 30-60 days.

An entire AI product suite on an AI super-app.

Everything AI, on Solana,… pic.twitter.com/2YBZmxuDbi

— TARS AI 🤖 (@tarsprotocol) August 20, 2024

These products will be launched months after the network was accepted into Google’s Startup Program, which supports young companies. Other crypto projects in the program include Celo (CELO), among others.

This development comes two months after TARS AI developers launched a $2 million ecosystem fund to support developers within its ecosystem. It also aligns with the growing global popularity of AI projects. OpenAI has achieved an $80 billion valuation while Elon Musk’s X.ai is valued at $24 billion. 

TARS AI aims to replicate this success by bridging the gap between AI and Web3 worlds. The project’s infrastructure is designed to help companies and organizations build and deploy conversational applications.

TARS is one of the few blockchain companies that seek to become big names in the AI industry. Artificial Superintelligence Alliance (FET), the biggest one in the sector, was formed by merging Fetch, Ocean Protocol, and SingularityNET. 

Others, like Akash Network (AKT) and Render (RNDR), have built infrastructure solutions that let people share their Graphics Processing Unit. 

TARS rose after finding key support

TARS AI token rallied after it bottomed at $0.10, a level it failed to move below in June, July, and August. As it rose, the token also moved above the descending trendline that connects the highest swings since June 15.

TAI has flipped the 25-day moving average from resistance into a support level and has invalidated the descending triangle pattern. Therefore, the token could continue rising, with the next reference point to watch being at $0.17, its highest swing on July 26 and 25% above the Aug. 20 high.