Here’s why the Vaiot (VAI) token price has skyrocketed
Vaiot token price experienced a significant surge on Tuesday, defying the recent downward trend. The token reached a peak of $0.1232, marking its highest point since June 18th. This surge amounted to a remarkable 33% increase from its lowest point earlier this month.
The primary catalyst for the VAI token’s price surge is the overall appreciation of other artificial intelligence tokens. As mentioned in a previous article, tokens like SingularityNET and Fetch AI have witnessed jumps of over 50% from their lowest points this year. Similarly, other tokens affiliated with AI, including The Graph, Akash Network, and Render token, have also rebounded strongly.
Additionally, the rising optimism in the crypto industry has contributed to Vaiot’s upward trajectory. Bitcoin, for instance, has rebounded from $59,000 to over $61,000 today. Similarly, other major coins such as dogwifhat, Bonk, Lido DAO, and Brett have experienced significant price increases.
However, it is worth considering that this rebound might be a short-lived phenomenon known as a dead cat bounce, often occurring when an asset sharply rebounds after a substantial decline in a specific period. Typically, such rebounds are brief and short-lived.
Vaiot stands as one of the numerous blockchain companies aiming to integrate AI features. The company combines blockchain technology, AI, and natural user interface, with one of its goals being the introduction of an AI legal assistant. This assistant aims to provide businesses and individuals with legal answers.
The team is currently working on an upcoming solution called Legal Torch, set to launch by the end of the year. Offering flexible and cost-effective pay-as-you-go legal tools, as well as comprehensive subscription-based packages with ongoing support, Legal Torch seeks to redefine how individuals and businesses navigate the legal landscape. Notably, the platform will benefit from the expertise of Grant Thornton, one of the leading players in accounting and advisory services.
Among the initial solutions that the platform will offer are service agreements, non-disclosure agreements (NDA), loan agreements, and share transfer agreements, among others.
In summary, the Vaiot (VAI) token has experienced a parabolic increase in price due to the upward movement of AI-related tokens, alongside an overall positive sentiment in the crypto industry. Furthermore, Vaiot’s integration of AI features, particularly its Legal Torch solution, has generated anticipation and interest among investors and the market as a whole.