Top crypto exchange platforms Coinbase and Binance are adding support for a new artificial intelligence (AI)-focused altcoin.
In a new announcement, Coinbase says it is adding support for InfoAI altcoin Kaito (KAITO) on the Base network, the firm’s own blockchain, with an Experimental label.
Binance, the world’s largest crypto exchange by volume, also added support for the digital asset as well.
The “Experimental” tag was created by Coinbase to designate certain digital assets as riskier, lower-liquidity tokens.
News of being added on the exchanges had a reverse impact on the price of KAITO, as the crypto asset is trading for $0.952 at time of writing, a 20.8% decrease over the last 24 hours.
KAITO aims to solve the issue of fragmentation within the crypto space by utilizing AI. Fragmentation is when the crypto markets become increasingly divided by blockchains, leading to different sets of standards, a lack of interoperability, and stagnation.
According to its official webpage, Kaito is an information finance (InfoFi) protocol that aims to answer long-tail questions.
“While everyone can have a view on the outcome of the US elections, people find it much more difficult to form opinions on the majority of long-tail topics.
For example, is Toyota more popular today than it was three months ago? How has sentiment toward Solana NFTs (non-fungible tokens) shifted in the past week? AI, on the other hand, excels at solving long-tail problems. By tokenizing the hard-to-quantify, it provides valuable reference points that enable the formation of markets.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Coinbase and Binance Add Support for New ‘InfoAI’ Altcoin KAITO appeared first on The Daily Hodl.
