ChainOpera AI price has gone parabolic today, Oct. 6, making it one of the best-performing cryptocurrencies. COAI jumped by 512% in the last 24 hours, with its daily volume soaring by 1,147% to over $481 million. Its market cap has soared to $474 million, while its fully diluted valuation (FDV) hit $2.4 billion.
ChainOpera is a leading player in the BNB Smart Chain (BSC), offering a suite of products powered by artificial intelligence (AI).
The AI terminal is a key part of its ecosystem as it connects users to a network of community-built AI agents. It facilitates the interaction between these AI agents through the AI Agent Social Network.
Like Virtuals Protocol, it also has an AI agent developer platform. Additionally, the developers have built a chat platform that is similar to OpenAI’s ChatGPT and Grok.
ChainOpera AI price surged as assets in the AI industry soared following the deal between AMD and OpenAI. This deal will see AMD supply OpenAI with chips, with the parent company of ChatGPT taking a stake in AMD.
READ MORE: XRP Price Prediction: Rare Patterns Signal a Surge as Catalysts Mount
COAI Price Jumps After Exchange Listings
The token also soared after it was listed by Bybit, one of the biggest centralized exchanges in the crypto industry. It is common for a coin to surge after being listed by a major exchange.
Another reason why the COAI price soared is that it was listed by Aster, one of the largest players in the perpetual DEX industry. This listing gave it visibility to thousands of users, who will now trade it at up to 1,000 leverage.
ChainOpera AI, a part of the Binance Alpha program, is likely to be listed in the spot market soon, which would boost its price over time.
The token also jumped after the futures open interest surged to a record high of $167 million, with the majority of the volume concentrated on Binance, followed by Bybit, BingX, and Gate.
More data show that the weighted funding rate jumped to a record high, a sign that investors anticipate the future price will be higher than the spot price today. Short liquidations jumped to over $17 million, also contributing to the ongoing price rally.
The risk, however, is that the ChainOpera AI price will suffer a big reversal once the ongoing hype ends. A good example of this is the Aster price, which jumped to a record high of $2.4 and then plunged to $1.5070 within a few days.
READ MORE: Shiba Inu Coin Price Forecast as Whales Buy, Exchange Reserves Crash
ChainOpera AI Price Technical Analysis
The 30-minute chart shows that the COAI price has pulled back in the past few hours. On the positive side, it has formed a bullish flag pattern, pointing to an eventual rebound, potentially to this week’s high of $3.266. A move above that level will point to more gains to $5.
READ MORE: XLM Price Prediction: Here’s Why Stellar is About to Surge
