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Solana Price Jumps After ChatGPT Integration; AI Tokens Next?

source-logo  coinedition.com 24 May 2023 07:31, UTC

The Solana Foundation, the non-profit organization behind the layer-1 blockchain, has announced the integration of ChatGPT into its network. In an update, Solana noted that a new plugin will let users interact directly with Solana from ChatGPT. Using its Twitter handle, Solana officially announced that the ChatGPT plugin is now available on GitHub for download.

1/ @SolanaLabs' ChatGPT plugin, which makes it the first layer 1 blockchain to integrate with AI, is now available via a Github download. https://t.co/Q0euNNhduH

— Solana (@solana) May 23, 2023

According to information on the Solana website, the newly launched plugin will allow users to check wallet balances, transfer tokens, and even purchase NFTs. In general, the initial implementation of the AI plugin gears toward end users. Solana plans to focus on helping them onboard effectively into the Web3 space.

Solana co-founder, Anatoly Yakovenko, believes that AI integration should be every developer’s business as long as they are building consumer-oriented apps. “Every developer building consumer-oriented apps should be thinking about how their app is going to be interacted with through an AI model because this is a new paradigm for telling computers what to do.”

Solana’s native cryptocurrency, SOL, gained about 3.5% shortly after the announcement. Users observed that AI tokens also responded to the news, with Render (RNDR) leading the top gainers with an 11% price gain.

The AI token surged to $2.705, marking a year-to-date high and breaking above significant resistance. The sudden spike could expose RNDR to notable retracements, considering the confluence of events supporting a retest of the newly formed supports. Users suspect that RNDR’s behavior, and that of other AI tokens, could mimic meme coins in the way they behaved in the past.

Meme coins were famous for reacting to related developments with significant price movements. Crypto users have observed a similar trend with AI tokens, leading to expectations that critical innovations, like Solana’s ChatGPT integration, could trigger some degree of volatility among AI tokens.