OORT (OORT), a cryptocurrency rooted in Artificial Intelligence (AI), has seen its price surge 85% over the past week. This jump followed a post by former Binance CEO Changpeng Zhao, who highlighted AI’s potential impact within the BNB Greenfield ecosystem.
Following the altcoin’s reaction, sentiment around it has turned bullish. But why did this happen, and will OORT price continue to rise? This analysis reveals all there is to know about it.
OORT Rises After CZ Speaks on AI in BNB Greenfield
On November 27, Zhao, popularly known as CZ, posted on X (formerly Twitter). He noted that AI should often be used on-chain. In the post, CZ noted that this could foster low transaction costs globally while offering the BNB Greenfield for data storage during the process.
“AI tagging (or AI data in general) is well fitted to be done on-chain. Harness low-cost labor globally without geographic bias, (micro) pay them instantly in crypto. BNB Chain Greenfield provides the storage capacity. More tooling still needs to be built. Let’s build them,” Zhao wrote.
Minutes after development, the price of AI coin OORT skyrocketed from $0.10 to $0.85. For context, OORT is the native token of a decentralized AI technology project that partnered with BNB Greenfield as a storage provider earlier this year in March
This dramatic price surge may be tied to OORT’s integration with the BNB Greenfield, a decentralized storage platform hosted on the BNB Chain. Beyond the price hike, the development drove the AI-themed altcoin’s volume to $13 million, signifying increased interest in it.
However, as of this writing, the price has dropped to $0.15 while the volume has also decreased to $7.05 million.
OORT Price Prediction: Rebound to $0.20 Possible
The daily OORT/USD chart reveals that the Bull Bear Power (BBP) has moved into positive territory, indicating that buyers (bulls) currently hold the upper hand over sellers (bears).
When BBP is negative, bears dominate, often leading to price declines. However, in this case, the bulls’ strength suggests a potential rebound in OORT’s price, with data also suggesting that it could correlate strongly with BNB’s price.
If buying pressure persists, the Fibonacci retracement indicator suggests that the altcoin could climb to $0.20. Conversely, if interest in the AI coin wanes, the price may decline to $0.11. Instead, the value could drop to $0.11.
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