Binance Coin (BNB) surges by over 12% with Sleepless AI launch on Binance

Binance’s native token, BNB, saw a 12% increase in value following the announcement of Sleepless AI (AI), the 42nd project on Launchpool.

The project introduces a one-of-a-kind gaming platform that combines artificial intelligence (AI) and blockchain technology to bring innovation to the gaming industry.

Binance users can farm AI tokens for seven days starting December 28, 2023, by staking BNB, FDUSD, and TUSD.

The launch of Sleepless AI on the Binance platform has sparked considerable interest, as evidenced by the rise in the value of BNB.

To participate in the staking process, Binance users are required to complete Know Your Customer (KYC) verification. There are hourly reward caps for each user, and the rewards are distributed among different staking pools:

• 80% of rewards allocated to staking BNB (56,000,000 AI)
• 10% each for staking FDUSD and TUSD (7,000,000 AI each)

The staking period is set to run from December 28, 2023, to January 3, 2024. During this period, Binance assures users of a fair distribution of Sleepless AI tokens.

The AI token resulting from the staking process will be listed on Binance on January 4, 2024, with various trading pairs.

The total supply of AI tokens is capped at 1 billion, with 7% (70 million) offered as Binance Launchpool rewards. The initial circulating supply is 13 million AI tokens (13%). Holders of AI tokens can enjoy discounts on in-game purchases.

In response to this announcement, Binance Coin (BNB) witnessed a 9.45% increase, reaching a trading price of $288.75. The 24-hour trade volume also surged by 71.06% to $1.3 billion, and BNB reached a new 1-month high of $288.79.

The positive market response indicates strong enthusiasm for the Sleepless AI project and its integration with the Binance ecosystem.