• ai16z crypto has rallied by more than 27% in 24 hours and formed a fresh ATH at $1.77.
• These gains came amid plans to launch a layer-one network. 

ai16z [AI16Z], at press time, traded at $1.61 after a 27% gain in 24 hours. These gains follow rising interest in the altcoin after trading volumes spiked by 101% per CoinMarketCap. 

ai16z was among the top performers in December 2024, given that during the month, its market capitalization increased four-fold from below $400 million to $1.75 billion at press time.

In fact, these gains saw the token hit an all-time high of $1.77 on the 31st of December. 

One factor behind the recent rally to an ATH is a proposal to “position ai16z as an L1 [layer one] network.”  This proposal also outlines plans to improve tokenomics and drive more value to AI16Z. 

The ai16z crypto currently runs on the Solana [SOL] blockchain. However, if it launched its own layer-one blockchain and boosts utility, it could bode well for long-term gains. 

ai16z crypto price prediction 

ai16z’s hourly chart shows a tussle between buyers and sellers, as traders who bought during the uptrend booked profits once the rally faltered. 

The Relative Strength Index (RSI) on the lower timeframe was tipping south, which shows waning buyer interest. At the same time, the RSI line had formed a sell signal after crossing below the signal line. 

The Bollinger band indicators also show a similar outlook, with the ai16z crypto dropping from the upper band to t

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Author: Muthoni Mary