Binance has surprisingly decided to add an AI cryptocurrency to its platform

A new altcoin project with a focus on digital goods and artificial intelligence (AI) has experienced price volatility following a surprise listing on Binance.

The world's leading crypto exchange officially entered trade for Bittensor ( TAO ), which sent the asset jumping 9% to $730 on Thursday. However, the coin later dropped to $550 amid the significant pullback of the Bitcoin.

Bittensor functions as a decentralized blockchain platform specializing in machine learning and artificial intelligence.

The project allows users to generate digital goods across different subnets, including machine intelligence, storage space, computing power, and more.

Participants are rewarded in TAO for producing high quality digital goods.

Despite recent gains, TAO remains nearly 20% below its all-time high of $758 hit in early March.

Binance has seeded TAO, indicating its lower liquidity and potentially higher volatility compared to other listed tokens.

Users who own seed-tagged assets must complete tests every 90 days to ensure awareness of the risks involved before trading.