The cryptocurrency market has experienced another substantial correction in the last 24 hours, with bitcoin (BTC) plunging below $100,000 for the second time this week. While many of the leading altcoins are also in red territory, there are some, like DeAgentAI (AIA), that have posted more than impressive gains.
The Massive Green Candle
AIA is the native cryptocurrency of the blockchain project DeAgentAI that builds infrastructure for autonomous AI agents to trade and collaborate directly on-chain without human intervention. The token began trading in mid-September but remained outside the spotlight for the next several weeks.
Over the past 24 hours, however, its price has exploded by a whopping 730% to reach $28, while its market capitalization has soared to almost $3 billion. This means that AIA is the 54th-biggest cryptocurrency, surpassing well-known altcoins that have been on the market for years, such as OKB (OKB), Aptos (APT), Filecoin (FIL), Arbitrum (ARB), and many more.
Crypto X is now filled with analysts discussing AIA’s performance and wondering what led to that rally. Among the possible reasons is the recent collaboration between DeAgentAIA and the Web3 project Pieverse, which was officially announced earlier this week. Specifically, the partnership allows AIA to be used for verifiable on-chain invoices and receipts. Another factor that may have contributed to the rise is the support from crypto exchange GroveX, which listed the AIA/USDT trading pair.
The partnership between DeAgentAI and Pieverse allows AIA to be used for verifiable on-chain invoices and receipts. This integration is a significant step towards real-world utility for the token.
— DeAgentAI (@DeAgentAI) Date of Tweet
We are excited to announce that GroveX has listed the AIA/USDT trading pair. This listing will provide greater accessibility and trading opportunities for the AIA token.
— GroveXchange (@GroveXchange) Date of Tweet
X user Zygfrid analyzed the asset’s latest performance and described the uptick as “a diabolical candle.” The market observer did not mention any potential catalysts behind the pump, jokingly asking whether the president of the United States, Donald Trump, has secretly invested in AIA.
This AIA candle is diabolical! Is Trump secretly investing? 😂 #AIA #Crypto
— Zygfrid (@ZygfridS) Date of Tweet
Trytex chipped in, too, saying they have opened a long position on the coin to follow the trend. The analyst claimed that AIA works similarly to MYX and COAI, which both recorded explosive – yet short-lived – gains earlier this year.
Opened a long position on AIA. It’s showing similar patterns to MYX and COAI before their explosive pumps earlier this year. Let’s see if it follows suit. #AIA #Trading
— Tryrexcrypto (@Tryrexcrypto) Date of Tweet
Beware the Risks
At the same time, some X users warned investors to stay away from AIA, describing it as a scam that can result in substantial losses. Additionally, there is limited information available about the token, which, combined with the fact that most leading crypto exchanges have not yet embraced it, should serve as another warning.
Be careful with AIA. Many signs point to it being a scam. Don’t get caught in another pump and dump. DYOR! #AIA #ScamAlert
— Keys (@keys0321) Date of Tweet
That said, users should tread carefully, conduct thorough research before jumping on the bandwagon, and invest only as much as they are willing to part with.