ACOLYT Token on Base Chain: Deep Dive into AI Agent Discovery

Hey Meme Insider readers! Today, we’re diving deep into the ACOLYT token, a cryptocurrency on the Base chain, an Ethereum Layer 2 solution by Coinbase. This isn’t just another meme coin; it’s part of the Acolyte by Virtuals project, aiming to be the “Google of AI Agents”. Let’s break down what makes this token and its project interesting.

What is ACOLYT?

The ACOLYT token is a cryptocurrency that lives on the Base blockchain. Think of Base as a superhighway built on top of the Ethereum network, making transactions faster and cheaper. Acolyte by Virtuals is using this technology to build a platform that organizes and evaluates AI agents.

Semantic Triples: ACOLYT is a cryptocurrency; Base chain is an Ethereum Layer 2; Acolyte by Virtuals is a platform for AI agents

Project Overview: Acolyte by Virtuals

Imagine trying to find the best AI agent for a specific task. That’s where Acolyte by Virtuals comes in. They’re building a platform to help us discover and trust the best AI agents out there. They assess agents based on four key criteria:

• Team Transparency: How visible and trustworthy is the team behind the AI?
• Industry Attention: Is the AI agent getting recognized in the industry?
• Technology Utility: Does the AI agent have practical applications?
• Community Engagement: Is there an active and supportive community around the AI?

Basically, they’re trying to make it easy for us to find the right AI for our needs, cutting through the noise.

Semantic Triples: AI agents are being evaluated; Team Transparency, Industry Attention, Technology Utility, Community Engagement are evaluation criteria

On-Chain Data Analysis

Let’s talk numbers. The ACOLYT token is found on the Base chain with the contract address 0x79dacb99a8698052a9898e81fdf883c29efb93cb. You can check it out yourself on Basescan.

• Contract Address: 0x79dacb99a8698052a9898e81fdf883c29efb93cb
• Name: Acolyte by Virtuals (ACOLYT)
• Decimals: 18 (This is a technical detail for how the token is divided)
• Total Supply: 993,082,938 ACOLYT
• Circulating Supply: Approximately 993,082,938 (fully diluted, meaning all tokens are released)
• Maximum Supply: 993,082,938 ACOLYT
• Holders: Approximately 108,771 addresses are holding ACOLYT

Semantic Triples: 0x79dacb99a8698052a9898e81fdf883c29efb93cb is the ACOLYT contract address; 993,082,938 is the ACOLYT total supply; 108,771 is the number of ACOLYT holders

Community Presence

To understand a crypto project, we need to see where it hangs out online. Here’s the rundown for Acolyte:

• Twitter (X): @AcolytAI – This is the place for official updates and community chatter.
• Telegram: A Telegram channel exists for announcements.
• Website: acolyt.ai – Here you can find more info about the project.

Semantic Triples: AcolytAI is the Twitter handle; acolyt.ai is the project website

Token Utility: What Can ACOLYT Do?

The ACOLYT token is designed to be an integral part of the Acolyte by Virtuals ecosystem. While the specifics are still evolving, here are a few ways it might be used:

• Platform Access: Think premium features, data, or analysis tools that might require ACOLYT.
• Governance: Token holders could vote on the future direction of the platform.
• Incentives: Rewarding users for contributing data or reviewing AI agents.
• Trading: The token is actively traded on decentralized exchanges like Uniswap.

Semantic Triples: Platform Access, Governance, Incentives, Trading are ACOLYT use cases

Key Market Data

Here’s a snapshot of ACOLYT’s market performance, keep in mind that crypto prices are like a rollercoaster:

• Current Price: Approximately $0.031629 USD
• Market Cap: Around $31.41 million
• 24-Hour Trading Volume: About $798,742
• All-Time High: $0.06838 (January 22, 2025)
• All-Time Low: $0.005656 (December 24, 2024)
• Fully Diluted Valuation (FDV): $41.09 million
• Ranking: Around #3300 on Coinmarketcap

Semantic Triples: $0.031629 is the ACOLYT current price; $31.41 million is the ACOLYT market cap

Acolyte’s Focus on AI

Acolyte by Virtuals is tackling a major problem - making it easier for us to discover and understand the complex world of AI agents. This is super important as AI becomes more prevalent in our lives. Acolyte is trying to be the trusted resource for finding and evaluating AI.

Semantic Triples: AI agents are being discovered by the Acolyte platform; Trust is a key goal for the Acolyte platform

Risks and Considerations

Let’s be real, investing in crypto is risky. Here are a few things to consider about ACOLYT:

• Market Volatility: Crypto prices can go wild, so always be prepared for that.
• Project Maturity: Acolyte is a new project, so its success depends on continued development.
• AI Agent Growth: Acolyte’s success depends on the growth of AI agents, a new and evolving field.

Semantic Triples: Market volatility, Project maturity, AI agent growth are risks of investing in ACOLYT

Conclusion

The ACOLYT token is an intriguing part of a project focused on making sense of the AI agent world. It has a clear purpose, active community, and a growing presence. But, like all crypto ventures, it comes with risks.

Disclaimer: This research report is for informational purposes only and should not be considered financial or investment advice. Investing in cryptocurrencies involves risk. Conduct thorough research and consult a financial advisor before making any investment decisions.