TARS AI (TAI) and AIOZ Network tokens were among the best-performing cryptocurrencies on Friday as demand for artificial intelligence (AI) rebounded. TAI surged to an intraday high of $0.2200, its highest point since June 16th.

Similarly, AIOZ Network rebounded to $0.60, its highest level since June 15th. It has risen by more than 41% from its lowest level this year. Other AI tokens like Akash Network, SingularityNET, and Fetch also showed positive trends.

AIOZ Network vs TARS AI

TARS AI Token Burn

This performance was mirrored in the stock market, where companies like Nvidia, C3.ai, and AMD saw gains of over 0.50%. These tokens also rose after several important announcements.

Tars, an AI infrastructure network on Solana, announced that it had burned 100 million tokens worth over $15 million. These tokens accounted for about 10% of those in circulation. A token burn permanently removes tokens from circulation by sending them to an address that cannot be accessed, thereby reducing supply and potentially increasing value.

Tars also announced plans to introduce .ai domains to Solana, aiming to replicate the success of Ethereum Name Service (ENS), which has registered millions of domains in recent years. Earlier this month, the developers revealed an AI fund worth 10 million TAI tokens. The funding will support developers in sectors like DePin, retail products, computation, and finance.

TARS is taking a significant step towards developments in AI with the launch of the AI Fund dedicated to creating an advanced AI ecosystem on Solana.

AIOZ Network Node Upgrade

Meanwhile, AIOZ Network’s token rose after the developers launched the latest version of the AIOZ Node. The new version introduced new functionalities, including transcoding functionality. Transcoding allows users to participate in video transcoding, a process that converts video files into different formats.

The Version 4.0 update also includes a new user interface and substantial functional improvements, enhancing overall productivity and efficiency.

The gains in TAI and AIOZ are expected to be sustainable if Bitcoin bounces back. Bitcoin’s recent attempts to rebound have stalled around $61,000, a level it has been stuck at for the past few days. Typically, altcoins move in the same direction as Bitcoin.

For more updates and detailed news on cryptocurrencies, investing, and finance, continue exploring Global Crypto News.

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