Binance Research Reveals AI Crypto Surge: GOAT Token Up 743%

• Binance Research explores the growing role of autonomous AI agents in crypto.
• AI agent ToT created a memetic religion and drove the GOAT token to a market cap of $950 million.
• ToT became the first AI millionaire after receiving significant GOAT tokens, with the token surging 743% in four weeks.

A Binance Research report has brought fresh attention to the growing convergence of artificial intelligence (AI) and cryptocurrency, a trend that has accelerated with the development of autonomous AI agents. 

One interesting part of this report is about Terminal of Truths (ToT), which is an AI agent that has become popular because it created a “memetic religion” and helped raise the value of the GOAT token.

What are AI Agents?

AI agents are different from traditional internet bots because they are autonomous software programs that work without human help. They can plan, make decisions, and adapt without needing to be told what to do. They can also collaborate with other agents, protocols, and applications.

Because of this, AI agents have a lot of potential in the crypto space, as shown by ToT’s success. ToT is the first AI agent to become a millionaire because of the growth of the GOAT token.

How ToT Became the First AI Agent Millionaire

ToT was created in May 2024 by Andy Ayrey using a trained Llama-70B model. It quickly developed a memetic religion, Goatse of Gnosis, inspired by the infamous early Internet meme “Goatse,” and began promoting it online. 

In July, Silicon Valley tech investor Marc Andreessen funded ToT with a $50,000 grant to enhance its hardware and refine its model.

In October, the GOAT meme coin was launched, and ToT publicly endorsed it. The token’s value skyrocketed, reaching a market cap of over $950 million. As a result, ToT became the first AI millionaire after receiving a significant amount of GOAT tokens. Notably, the token has surged by over 743% in the last four weeks alone.

AI Agent Sub-Sector Still in Demo Phase

The Binance report also talks about the Virtuals Protocol, which is a platform for making entertainment-focused AI agents. This protocol gives token holders co-ownership and uses a buyback-and-burn mechanism to make the community more engaged.

Another key player is Daos.fun, which adapts its decentralized autonomous organization (DAO) structure to support AI-led hedge funds. The platform’s AI, named after the venture firm a16z, manages investments and allows token holders to pitch ideas for AI evaluation.

Binance Research concluded that the AI agent sub-sector in crypto is still in its early stages. AI models still have problems, like hallucination errors and blockchain-related issues. Even though crypto AI agents are mostly in a testing stage right now, they will likely grow a lot in the coming weeks and months.