TARS Protocol saw a rise in price on Friday following the launch of an ecosystem fund by the developers to expand the network. Recently, TAI was observed trading at a significant resistance level of $0.20, surpassing the intraday low of $0.15.
In an effort to expand its market share in the industry, TARS Protocol announced the launch of an AI fund, offering 10 million TAI tokens, currently valued at $2 million. The company intends to invest in developers creating solutions in various sectors such as Decentralized Public Infrastructure (DePin), retail products, finance, e-commerce, and more.
This announcement comes shortly after the introduction of the TARS Incubation program, designed to highlight Solana projects utilizing artificial intelligence (AI). Additionally, TARS Protocol has formed partnerships with prominent companies in the crypto industry including Bybit, DojoSwap, and BitPanda. As part of its ByBit listing, the company plans to distribute 10 million TAI tokens to more than 37,000 winners.
TARS Protocol is a new Solana project aiming to establish a connection between artificial intelligence (AI) and Web3 by offering a unified platform for AI-powered tools and services. The project was launched amid a surge in demand for AI solutions globally, with companies like Nvidia and Apple making significant strides in the AI space.
The 4-hour chart indicates that the TAI price reached a peak of $0.2890 earlier in the week before retracting alongside other altcoins. Currently, the token is consolidating at the 50-period and 25-period moving averages. The MACD’s histogram has moved above the neutral point, and the two lines have formed a bullish crossover pattern.
Notably, TAI has formed a falling broadening wedge chart pattern, indicating a potential bullish breakout as buyers aim for the all-time high at $0.2890. This outlook will be confirmed if the token surpasses the key resistance at $0.2090, its highest point on May 20th.