AI Token VAIOT (VAI) has brought more than 100% in gains to holders of the cryptocurrency due to the boom in artificial intelligence which is being used in many facets of the global economy.
AI Token VAI has soared by 112% since January 1, data from crypto price tracker CoinMarketCap showed.
VAI is the novel token of VAIOT, a platform which offers a portfolio of blockchain-based AI assistants and on-chain intelligent contracts for consumers and businesses to provide automated transactions and services.
While more than 100% gains in six months are seen as quite impressive considering the number of cryptocurrencies in the red within the same period, 68% of the returns came in the first two weeks of June.
AI Token VAIOT benefiting from global partnerships
AI Token VAIOT, like many tokens powered by the growing use of this technology thrives from partnerships in increasing in value.
On June 13, VAIOT announced that it has partnered with Realiz.io, a France-based financial technology startup with global exposure that allows investors access to a world of investment in real estate and security assets via the latest blockchain technology.
“By integrating VAIOT’s AI technology with Realiz.io’s platform, we will bring efficiency to the tokenization process, enabling a new era of digital asset ownership,” VAIOT tweeted.
On the day, VAI opened with a trading price of $0.0902, reached an intraday high price of $0.1087, tested an intraday low price of $0.08889, and closed the day at $0.1032.
Increasing trading volume led to a monthly high price of $0.1099, and this pushed the project’s market capitalization to approximately $24 million – a 22% rise in 24 hours.
On June 12, VAIOT also announced an update on its AI legal assistant development. By the close of the week, pre-written automated tests for backend and front-end unit tests, stress tests, and front-end functionality tests will be launched.
Before this, VAIOT added data validation for collected user inputs related to the inclusion of new contract fields, per its June 8 update. An upgrade of Microsoft CLU to v4 was also highlighted.
VAI joins others in top-15 market cap gainers
VAI’s performance as a top AI token has made it one of the top-15 gainers in terms of market capitalization.
Data from Santiment.net showed the token in 11th place behind Gala (GALA), Numeraire (NMR), Cudos (CUDOS), Findora (FRA), and Linear Finance (LINA) among others.
As of 10:30 UTC on June 15, VAI had around 251 million tokens in circulation from a total and maximum supply of 400 million.
It had a fully diluted market cap of around $38 million.
With this, VAI is now a top 550 digital asset by market value. The virtual currency is supported by five centralized exchanges (Gate.io, Bitget, BKEX, XT.COM, and CoinEx) and a decentralized exchange (Uniswap V3 on Polygon). It is also available in six different markets.
With VAIOT aiming to reach 1% of the global legal services market which has been projected to be worth approximately $790 billion (2022) with its AI legal assistant, VAI could be affected by diverse price drivers which could positively reflect in the token’s valuation.
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