Key Reason Why This Elon Musk-Inspired AI Coin Just Surged 49%

Here’s main trigger that pushed XAI coin up 49%, inspired by Elon Musk’s most recently set up company title

Today, game coin XAI, which was launched this year and named after Elon Musk’s xAI start-up — which works in the artificial intelligence industry — demonstrated an astonishing rise of 49%. The news was reported on Twitter by major cryptocurrency exchanges Gate.io and Bybit.

Here’s main trigger pushing XAI up 49%

XAI was created by Xai Foundation and Offchain Labs on the basis of Arbitrum and is a layer-2 blockchain created for AAA gaming. The primary goal of this is to lead the way for blockchain technology into games. It helps to acquire, own and trade various in-game items, turning the gaming ecosystem into a decentralized and a completely transparent one.

The main reason for the astonishing price surge of XAI, according to the tweet published by Bybit, is the fact that Orivium start-up has created and launched a same-name play-to-earn game on the Arbitrum chain. It is “blockchain-enhanced real-time strategy game,” and it will be powered by XAI technology.

XAI technology will allow this strategic game to have small transaction fees, stable gameplay, easy-to-understand game interaction and easy ways to integrate blockchain wallets into it. This is a major move forward in the blockchain gaming space.

Since Sunday, the XAI coin has skyrocketed by 57.77% overall and is now exchanging hands at $0.9511 on the Binance exchange. The maximum supply of this coin equals 2.5 billion XAI; 3% of it was allocated to be given away as awards on Binance during the launch on Jan. 4.

Elon Musk’s xAI start-up doing well

Elon Musk, tech magnate, owner of the X app, and CEO of Tesla and SpaceX, launched his xAI start-up in November 2023 in order to compete with OpenAI and its AI chatbot, ChatGPT.

Soon after the launch, xAI released its own chatbot, called Grok, and it was integrated on the X social media platform for Premium+ subscribers, who pay a monthly fee to access it.

Musk decided to go for a new company after he poured heavy criticism on OpenAI for creating “woke” ChatGPT; the chat bot avoids discussing certain sensitive topics with users. Musk stated that this was a major drawback and decided to launch his own AI chat bot.

About the author

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.