ArcBlock’s native token, ABT, has experienced a notable surge in its market value, with a 26% increase over the last 24 hours, reaching a new all-time high of $3.92.

The recent rise in trading volume, which hit $31.8 million during the same period, has boosted the token’s market cap to $383 million. This data comes from CoinMarketCap.

ABT is a crucial component of the ArcBlock ecosystem, a platform that merges blockchain technology with cloud computing to support the development and deployment of decentralized applications. Designed for ease of use and cost-efficiency, the platform offers a range of services, components, and applications, creating a self-evolving ecosystem. As an ERC-20 token, ABT is primarily used for payments within this framework.

ArcBlock’s AI apps engine, AIGNE, streamlines access to large language models and generative AI technologies. It enables users to leverage these technologies with a completely code-free approach, allowing anyone to build complete applications using AI.

ABT has surged by about 35% in the last two days, according to CoinMarketCap. This recent increase in ABT’s value may be linked to a series of announcements by Robert Mao, ArcBlock’s founder.

On May 13, Mao highlighted the potential for AI agents to become a significant part of daily active users by 2030, with an estimated market valuation between $15 trillion and $25 trillion. The following day, Mao announced the integration of GPT-4o support into their AIGNE model, enhancing its capabilities. GPT-4o includes features such as the ability to process and understand video and audio from uploaded files, as well as generate short videos.

AIGNE now open with GPT-4o support! A quick video tutorial will be available later tonight.

Despite ArcBlock’s impressive performance, the overall crypto sector remains relatively static, with the global market cap around $2.26 trillion. The Fear and Greed Index, which measures investor sentiment, currently stands at 52, indicating a neutral outlook among crypto traders.

Bitcoin, the largest cryptocurrency by market cap, has been experiencing lateral movement, with its price currently at $62,210. This sideways trading pattern reflects a cautious approach from investors amidst a mixed sentiment in the market.

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