2024

View

Recently, GSR Markets has emerged as an important player in accelerating liquidity for the TARS protocol (TAI) with Wintermute and, accordingly, stimulated significant <a href="https://www.thecoinrepublic.com/2024/11/14/bitcoin-at-ath-retail-fomo-intensifies-heres-what-to-watch/">market reactions</a>. 
This 26% increase in TAI token prices reflects the impact of their strategic liquidity interventions 
GSR Markets recently stepped into the field as a market maker for the TARS protocol, joining Wintermute in helping to bolster its liquidity. 
In one of their transactions, GSR Markets received 5 million TAI tokens, which cost them around $789,000. 
In return, they made deposits of another 3 million TAI ($472,000) into various exchanges. They included MEXC, Bybit, and Gate.io, in what seems to be an attempt to increase liquidity. 
These actions led to an increase in the price of TAI by approximately 26%. This indicates that the market embraced the liquidity and market-making strategies deployed by the firm. 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Besides Wintermute, <a href="https://twitter.com/hashtag/GSRMarkets?src=hash&amp;ref_src=twsrc%5Etfw">#GSRMarkets</a> has become a market maker for <a href="https://twitter.com/tarsprotocol?ref_src=twsrc%5Etfw">@tarsprotocol</a>. Yesterday, GSR Markets received 5M <a href="https://twitter.com/search?q=%24TAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TAI</a> ($789K) and subsequently deposited 3M <a href="https://twitter.com/search?q=%24TAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TAI</a> ($472K) to <a href="https://twitter.com/hashtag/MEXC?src=hash&amp;ref_src=twsrc%5Etfw">#MEXC</a>, <a href="https://twitter.com/hashtag/Bybit?src=hash&amp;ref_src=twsrc%5Etfw">#Bybit</a>, and <a href="https://twitter.com/hashtag/Gateio?src=hash&amp;ref_src=twsrc%5Etfw">#Gateio</a>, presumably to provide liquidity. The price of <a href="https://twitter.com/search?q=%24TAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TAI</a> surged by as much as 26%… <a href="https://t.co/fsLrZBsGhB">pic.twitter.com/fsLrZBsGhB</a>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1857325185227223264?ref_src=twsrc%5Etfw">November 15, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
This step is in line with GSR Markets’ strategy of helping the TARS protocol by ensuring there is enough liquidity. It eventually allows for maintaining and increasing the value of the token. 
The increase in TAI price is a perfect case study to demonstrate how liquidity injections at the right time can enhance the performance of a token. 
There is sustained interest for TAI in the market, and the liquidity injections made by GSR Markets help provide TAI with the current needed momentum. 
<h2 class="wp-block-heading" id="h-tars-resets-by-buying-back-all-tai-tokens-boosting-scarcity">TARS Resets by Buying Back all TAI Tokens, Boosting Scarcity</h2> 
In a dramatic twist, TARS (TAI) is setting a new tone for the ventures. They announced that they will buy back all tokens. 
The aim of this The Solana-based project is to harness the power of artificial intelligence (AI) in the Solana ecosystem. 
The core idea of the “reset button” approach is to reinforce self-belief and enhance the standing of the project under the umbrella of the rapidly expanding spheres of AI and blockchain. 
The focus of the project is AI, which is in tandem with the current tendencies of the market, which are now focused on the confluence between AI, DeFi, and blockchain. 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Big news from <a href="https://twitter.com/search?q=%24TAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TAI</a>! They're hitting the reset button by buying back every single <a href="https://twitter.com/search?q=%24TAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TAI</a> token This Solana-based project is dedicated to integrating AI into the SOL ecosystem. Join me for a thread <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"> on the latest from Tars! <a href="https://twitter.com/tarsprotocol?ref_src=twsrc%5Etfw">@tarsprotocol</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b07.png" alt="⬇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/t3PQp4QwHI">pic.twitter.com/t3PQp4QwHI</a>— One_Deсision (@0xDecision) <a href="https://twitter.com/0xDecision/status/1857144251525779646?ref_src=twsrc%5Etfw">November 14, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
By acquiring all the circulating tokens, TARS enhances the concept of scarcity. This in due course could arrears the token’s worth. 
The charts adjoined in the tweet exemplify the struggle of the current stage of the project. TAI is positioned at a major junction in the history of AI and decentralization evolution. 
This movement tells us that TARS is preparing to be among the first to implement new technology trends, which are focusing on AI on the Solana network. 
Having AI, RWA, and DePin as focal points, the trajectory within which TARS will follow is potentially with a lot of growth. 
On the other hand revitalizing TAI is an opportunity to latch on to promising developments in both AI and blockchain. 
<h2 class="wp-block-heading" id="h-tai-technical-analysis">TAI Technical Analysis</h2> 
The weekly chart of TAI shows that there is a definite accumulation phase starting in June 2024. A sudden spike upward in the weekly period shows a possible end. 
If the price trades above $0.18 and later retests this level, it is expected the price will move higher. It could trade at the next resistance level of $0.30, representing a 66.47% increase. 
In addition, it can be observed from the chart that there exists adequate support at the level of $0.10. This might hold quite well to accommodate higher prices. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
 <img loading="lazy" decoding="async" width="937" height="421" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-466.png" alt="" class="wp-image-837348" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-466.png 937w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-466-300x135.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-466-768x345.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-466-150x67.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-466-696x313.png 696w" sizes="auto, (max-width: 937px) 100vw, 937px">
 <figcaption class="wp-element-caption">
 TAI/USDT daily chart | Source: Trading View
 </figcaption>
 </figure>
</div> 
Moreover, the projection for the MACD indicator shows an anticipated bullish trend trading above the zero mark as the histogram progresses toward zero, signifying an improvement in buying intensity. 
Accumulation/Distribution has started to decline for some profit-taking and low selling pressure, but bullish pressure prevails. 
If prices maintain above $0.18, then the target range of $0.30 is highly probable. The coming days will be very significant in verifying if the breakout will sustain and move to the targeted level. 
The post <a href="https://www.thecoinrepublic.com/2024/11/18/tai-price-soars-26-as-gsr-adds-liquidity-more-growth-coming/">TAI Price Soars 26% As GSR Adds Liquidity, More Growth Coming?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

TAI Price Soars 26% As GSR Adds Liquidity, More Growth Coming?

Table of Contents

Thecoinrepublic.com

Other articles published on Nov 18, 2024

XRP Price Surge to $10 Predicted as Analysts See Strong Momentum

Positive Metrics Align for Ripple (XRP) Bullish Continuation: Expert Predicts Spike to $8

XRP Surges Above $1 with Trump Rumors

Crypto mining giant Marathon plans $700m convertible note to buy Bitcoin

MicroStrategy’s Bitcoin Holdings Reach $24B with Latest Acquisition

Trump’s Win Drives Cryptocurrency Trading Surge

Join our free newsletter for daily crypto updates!