AI tokens FET, AGIX, and OCEAN surge amid merger deal into ASI token

The cryptocurrencies FET, AGIX, and OCEAN by AI have experienced notable increases in value during the last 24 hours. This growth comes as buzz surrounds the emergence of a potential new “Artificial Superintelligence” (ASI) token, sparking much interest within the crypto community.

The price of Fetch.ai’s FET token has climbed by 6%, reaching $3.26. This increase in value was accompanied by a substantial rise in trading volume, which reached around $1.1 billion over the last 24 hours, indicating a significant surge in investor activity. As a result, the market capitalization of Fetch.ai has grown to approximately $2.73 billion.

AI tokens FET, AGIX, and OCEAN surge amid merger deal into ASI token

The price of AGIX, SingularityNET’s token, has surged to $3.26, representing a 10% gain in value over the given timeframe. The trading activity for AGIX has dramatically increased, leading to a volume of approximately $554 million. Consequently, its market capitalization now stands at a substantial $1.7 billion.

AI tokens FET, AGIX, and OCEAN surge amid merger deal into ASI token

Of all the tokens listed here, Ocean Protocol’s OCEAN token has experienced exceptional growth, increasing by 18%. The trading activity for this token has surged dramatically, reaching approximately $640 million in volume. With a total market capitalization of $820 million, OCEAN now holds significant value.

AI tokens FET, AGIX, and OCEAN surge amid merger deal into ASI token

The rising prices suggest increasing investor enthusiasm regarding the prospective merge of these AI-centric initiatives.

Before the planned community vote on April 2 for the proposed merge of SingularityNet, Fetch.ai, and Ocean Protocol tokens, which has an estimated total market value of around $5.3 billion, there is a significant increase in the value of these tokens.

With approval, the merge of these three entities would result in the formation of the Artificial Superintelligence Alliance’s ASI token. The goal is to combine their individual prowess into a powerful alliance, able to challenge Big Tech’s control in the realm of artificial intelligence.

The Superintelligence Collective, soon to be recognized by that name, aims to combine the decentralized AI app platform of Fetch.ai, the AI services marketplace of SingularityNET, and Ocean Protocol’s data trading system.

This project is a reaction to the rapid increase in AI undertakings and offers a decentralized solution for AI creation, application, and profit-sharing, presenting an alternative to industry leaders such as OpenAI, Google, and Microsoft.

According to the merger agreement, a new token named ASI will be issued in place of 2.631 billion AGIX, FET, and OCEAN tokens. These old tokens will become exchangeable for ASI at fixed conversion rates afterward.

The merger plan involves exchanging one FET token for one ASI token. Furthermore, new ASI tokens will be created to distribute 867 million among AGIX token holders and 611 million among OCEAN token holders. This results in set conversion rates for these tokens when converting them into ASI.

Exchanges will automatically manage the conversion of AGIX and OCEAN tokens into ASI tokens for token holders who keep their tokens with the exchanges.

Based on both on-chain information and market analysis, there’s strong indication that the strategic merger will have a favorable outcome. This optimistic view is backed up by a substantial rise in the merged companies’ market capitalization, now totaling $43.12 billion within their industry category.

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2024-03-28 12:10