TARS Protocol price bounced back on Friday after the developers launched an ecosystem fund as they seek to grow the network. TAI was seen recently trading at the important resistance level of $0.20, which was higher than the intraday low of $0.15.
TARS Protocol has launched an AI fund as it seeks to grow its market share in the industry. In a statement, the developers said that they will provide 10 million TAI tokens, currently equivalent to $2 million.
The company will make investments in developers building solutions in industries like Decentralized Public Infrastructure (DePin), retail products, finance, e-commerce, and others.
This statement came a few days after the creators unveiled the TARS Incubation program, which seeks to showcase Solana projects using artificial intelligence (AI). TARS Protocol has also partnered with leading companies in the crypto industry like Bybit, DojoSwap, and BitPanda. As part of its ByBit listing, the company will give away 10 million TAI tokens to over 37,000 winners.
TARS Protocol is a new project on Solana that aims to provide a bridge between artificial intelligence (AI) and Web3. It will do that by providing a unified platform for AI-powered tools and services. It was launched at a time when demand for AI solutions is exploding around the world. Nvidia has become a $3 trillion company by providing AI semiconductors. Just this week, Apple became the biggest company in the world after launching its Apple Intelligence features.
Developers have also launched numerous AI projects, with Fetch.ai being the biggest one. Fetch, SingularityNET, and Ocean Protocol will complete their merger in July, a move that will create the biggest AI platform in the blockchain industry.
TARS Protocol price forecast
The 4 hour chart shows that the TAI price peaked at $0.2890 earlier this week and then retreated as other altcoins pulled back.
At press time, the token was consolidating at the 50-period and 25-period moving averages. The MACD’s histogram has moved above the neutral point while the two lines have made a bullish crossover pattern.
Most importantly, TAI has formed a falling broadening wedge chart pattern, a popular bullish sigm. Therefore, the token will likely have a bullish breakout as buyers target the all-time high at $0.2890. This view will be confirmed if the token jumps above the key resistance at $0.2090, its highest point on May 20th.