While the SORA token emerged after OpenAI’s Sora, it’s worth noting that it has no connection to the new text-to-video AI.
An unidentified trader managed to make a $176,000 profit on an initial investment of 0.049 ETH, which was then worth just $137.
According to Lookonchain’s analysis, the trader originally purchased 16 million SORA tokens using 0.049 ETH.
Traders Earn 1280x Returns
The trader then made a strategic move and sold 12.36 million SORA tokens, earning a handsome return of 36.57 ETH, equivalent to $102,492 at current market exchange rates. Additionally, including the remaining 3.64 million SORA tokens (worth approximately $74,000), this single transaction brought the trader a substantial profit, showing a 1,280x return on their initial investment.
The SORA token launched shortly after the launch of OpenAI’s groundbreaking Sora, causing a surge in interest and value. Although it is associated with OpenAI’s pioneering work in artificial intelligence, it is worth noting that the SORA token is not directly affiliated with the OpenAI development team.
OpenAI recently launched the Sora model, a sophisticated text-to-video generator capable of producing realistic visual content based on textual prompts, sparking renewed interest in AI-related tokens.
Analysts speculated that the announcement sparked a backlash across various AI-related cryptocurrency projects, including Worldcoin, Bittensor (TAO), and Fetch.ai.
Artificial Intelligence-Based Tokens Experience Surge
Worldcoin, owned by OpenAI co-founder Sam Altman, rose more than 40% in a single day, hitting a record high, demonstrating the market's enthusiastic response to the advancement of AI technology.
Likewise, Bittensor and Fetch.ai also saw significant growth, with Bittensor up 17.4% on a weekly basis and Fetch.ai jumping to $0.9126, a 45.5% increase in weekly value. This new interest comes after a drop in activity for AI-related tokens, suggesting a possible resurgence in investor confidence and interest driven by technological advancements.
Meanwhile, Buterin recently highlighted the possibility of using artificial intelligence-assisted methods to enhance the security of the Ethereum network. He believes that Ethereum’s main technical risk is bugs in its code, and any innovation that can significantly mitigate this risk will be very beneficial.
Despite the recent success traders have had with the SORA token, the cryptocurrency market remains highly volatile, as evidenced by the over 20% drop in SORA token value over the past 24 hours. As of this writing, the price of the SORA token is $0.01594. #SORA #投资回报
