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Binance launches AI token rewards campaign, sees sector trade surge

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Cryptocurrency exchange Binance has initiated a rewards program to encourage trading in select artificial intelligence (AI)-related tokens. The campaign, which began today, includes tokens such as AGIX and Cortex’s CTXC, with the latter geared towards integrating AI into blockchain smart contracts.

In a bid to attract both new users and reactivate dormant accounts, Binance is offering an incentive pool of $10,000 in USDT vouchers. Eligible participants are newcomers or existing members who have not engaged with Binance Spot trading in the last three months. This promotional offer is set to run until November 27.

The AI token market has recently experienced notable activity, drawing attention to tokens like WLD, which saw significant fluctuations. This interest was partly attributed to Sam Altman, the former CEO of OpenAI, and a hefty deposit of nearly $4.5 million worth of WLD into exchanges by GSR.

Furthermore, Render (RNDR) led a substantial increase in trade volumes within the AI sector. According to Kaiko research, the sector’s trade volumes reached $2 billion. Concurrently, other AI tokens like MDT recorded a price increase of over 7% coupled with a volume surge exceeding 150%. Similarly, OCEAN’s price climbed by more than 11%, with its trade volume also doubling during the same timeframe.

The movement in the AI token market reflects growing investor interest in cryptocurrencies linked to emerging technologies like artificial intelligence, which are becoming increasingly relevant across various industries.

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