General Information on Trade Tao Coin
The total number of coins in Tao Coin is 21 million, similar to Bitcoin, which establishes a set amount that limits inflation and allows investors to easily control the price when they trade Tao Coin. With a robust market capacity of 2.9 billion dollars, Tao Coin is a force to be reckoned with. Its appeal extends beyond the numbers, providing innovative solutions to incentivize the production of machine intelligence.
Proof of Intelligence (PoI) is a consensus mechanism similar to PoS (Proof of Stake) or PoW (Proof of Work). In PoI, nodes must perform machine-learning tasks to demonstrate their intelligence. The more accurate the model results in that node, the higher the chance to be established as a node.
Current Trend of Trade Tao Coin
The trend of trading Tao Coins is rather unpromising. The pattern is bearish, with the lowest support at 417 being tested. It is in a situation similar to the beginning of January 2024. If we look at the trends analysis available, the prediction of decreases in value is confirmed. The coin, as it is, has decreased in value by 4.5% in the last 24 hours of 27.04.2024.
Analysis of specialists
Changelly presumes the token will reach $1000$ a piece by the end of June even though the market is establishing a somewhat bearish tendency. This assumption is based on the assumption that the current crypto market will see astronomical increases until the end of 2030.
Coincodex assumes a relatively marginal prediction, with values ranging from $417$ to $1967$ a coin by the end of next year. Just as Changelly is following the trend, they assume the coin is undervalued and will see an imminent increase in price value even though the market is considered bearish.
Swapspace is seeing an increase of over 50% by the end of 2024 (more precisely, 89%), but it is more cautious than Wallentinvestor, which says the price will reach more than $1700 by the end of next year.
Binance saw the coin increase by almost 5% m, reaching over 558$ by the end of 2030 and a little over 450$ the following month. The RSI (Relative Strength Index) available on the site says that the coin is oversold, which might explain the continuous price decrease.
Gate.io offers a range between 206 $ and 655 $ as a predictive price, reaching 654 $ in 2025. This is one of the more reasonable predictions given the current market situation.
What companies are Tao aiming for
As the nodes themselves are mathematical models, companies like IBM, Google, or Microsoft, as well as smaller companies, will be looking to acquire and use this model. As the centralisation of models is relatively expensive and inefficient, this coin will offer alternatives.
Should this coin be considered for investing?
As far as I am concerned, this coin’s long-term prospects are as promising as its capacity to encapsulate innovation into its crypto model. For the time being, the market is more inclined towards short selling.