Agentic AI platform's native token ai16z rose after its founder revealed details about an upcoming update to its AI operating system, Eliza.

ai16z(AI16Z) rose 35% to an intraday high of $1.27 on January 14, while the market cap rose from $1 billion to nearly $1.4 billion at that time, according to data from crypto.news. The rise was driven by increased trading activity, with daily trading volume jumping 33% over the past day to $646 million. The altcoin was also popular on CoinGecko.

This rise coincided with a recovery in the overall cryptocurrency market from the recent recessionWhich adds more momentum to the AI16Z price movement.

AI16Z stepped up after project founder Xu, subscriber Details about the version 2 update to Eliza, the operating system that powers Eliza's Agentic AI platform.

The update will reportedly provide a host of advanced features, including full autonomy for seamless operation, unified wallet abstraction for simplified asset management, and an advanced plugin registry to support various integrations.

The group gained greater strength yet Official technical document Eliza was released on January 14.

At the same time, demand for AI-powered memecoins has increased among derivatives traders. according to Data From CoinGlass, open interest in the AI16Z futures market rose 10% over the past day to $193.9 million at the time of writing.

Whale investors, who have benefited from the recent AI Agentic hype, have also turned their focus to AI16Z. According to X mail By Lookonchain, a whale recently pulled 5.64 million AI16Z tokens, worth $6.37 million, from centralized exchange Gate.io. This whale now holds a total of 15.95 million AI16Z tokens, worth approximately $17.86 million.

Meanwhile, smart money investors have reportedly started accumulating tokens as well. see below.

Cryptocurrency investors typically view these accumulation trends as bullish, especially for altcoins with smaller market caps.

Technical indicators for AI16Z look bullish

Technical indicators indicate a possible extension of the current rally.

AI16Z price is positioned above the 50-day moving average, which means the bulls are still in control. This was confirmed by the Average Trendline indicator, which showed a reading of 40. A reading above 25 usually indicates strong trend strength.

Moreover, the histogram bars on the moving average convergence and divergence bars are decreasing in volume, which is also a signal of a bullish reversal. Meanwhile, the Relative Strength Index was at 47, indicating that the altcoin has plenty of room for gains before it reaches the overbought zone.