The OORT token has had its moment in the spotlight, thanks to none other than Binance founder Changpeng Zhao. In a recent post, CZ noted the frequent use of AI in blockchain, citing its potential to reduce transaction costs globally. As part of his pitch, he highlighted BNB Greenfield as the ideal decentralized storage solution to handle data during these processes.
So, what is BNB Greenfield? Its decentralized storage platform is tightly integrated with the BNB Chain ecosystem, despite being formally separate from Binance. Earlier this year, in Q1, 2024, OORT, the native token of a decentralized AI tech project, partnered with BNB Greenfield as a storage provider.
Minutes after its listing that same month, OORT's price skyrocketed from $0.10 to $0.85. This sharp price jump was directly linked to its integration with BNB Greenfield. However, as the excitement cooled, the token returned to its starting point, stabilizing in the $0.08 to $0.10 range.
AI Tokens Get CZ’s Attention
OORT has surged 14.7% in the past 24 hours, adding almost 20% to its market capitalization, reaching 47.3 million.
This impressive rally came hot on the heels of a post by Binance's former CEO, Changpeng Zhao, who highlighted AI's potential to revolutionize the BNB Greenfield ecosystem.
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 in crypto instantly. @BNBCHAIN Greenfield provides the storage capacity. More tooling still needs to be built. Let's build them.
— CZ 🔶 BNB (@cz_binance) November 27, 2024
After the positive reaction of the altcoin, the sentiment around it has turned bullish. Technical indicators suggest the price could soon break above $0.20. The daily OORT/USD chart shows that Bull Bear Power (BBP) has shifted into positive territory, signaling that the bulls are currently overpowering the bearish sellers.
For the uninitiated: when BBP dips into the negative zone, the bears take the reins, typically driving prices down. But this time, the bullish momentum suggests OORT’s price could rebound further. Moreover, data hints at a strong correlation between OORT's movements and BNB’s price trends.
Now, you might think, “Is this really a CZ-level impact?” Sure, for someone of his stature, it may seem like a drop in the ocean. But OORT’s surge isn’t the only testament to CZ’s influence. His sway over his native BNB token remains as formidable as ever.
How One Tweet Shook BNB
No matter how hard CZ tries to distance himself from Binance, or how “voluntarily forced” his departure as CEO might have been, his influence is still as undeniable as ever. Sure, the exchange seems to be running just fine without him, but crypto investors had been holding their breath for the moment when BNB would take off again.
And take off it did. BNB has been on the bullish side since its August dip to $464.63, but the process speed up in September. Legal troubles for Binance didn’t put much of a dent in BNB’s price, but Changpeng Zhao’s official exit on September 27 seemed to give it a significant price increase.
CZ’s newfound freedom led to his tweet on X, where he simply said “GM”, which was his greeting to his followers and a way of letting them know that he was free.
gm
— CZ 🔶 BNB (@cz_binance) September 28, 2024
That one tweet alone pushed BNB’s value up by 11%, from $540 to $616 over the month. But, of course, every superpower has its limits. While the tweet gave BNB a solid boost, the excitement lasted for a few minutes, and the price came back down.
Despite its temporary nature, the effect is undeniable. If one small reference to a project from CZ can send prices moving upward, imagine what a more deliberate move or endorsement could achieve.
Kataryna Habeliia
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