Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Fetch.ai, SingularityNET and Ocean Protocol see nearly 2% gains in their prices, await ASI launch update

Source Fxstreet

Fetch.ai, SingularityNET and Ocean Protocol note a surge in value on Friday.
FET, AGIX and OCEAN token holders await an update on the ASI token launch of the Artificial Superintelligence Alliance.
The $7.5 billion token merger kicked off new alliances in the crypto AI sector.

Crypto Artificial Intelligence (AI) tokens category has a market capitalization of $34.3 billion, down nearly 4% in the past 24 hours. Three giants in the AI category, Fetch.ai (FET), SingularityNET (AGIX) and Ocean Protocol (OCEAN) had announced a merger into an Artificial superintelligence alliance with an ASI token.

The AI token holder community is awaiting updates on the ASI token launch, and prices of the three assets have rallied on Friday.

FET, AGIX, OCEAN extend gains, await news of ASI launch

While there is no update on the ASI token launch, as on Friday, May 24, FET, AGIX and OCEAN have noted early 2% increase in their value on Friday. The AI category of tokens have observed a positive impact on prices from AI-related developments, announcements and project mergers like the ASI alliance.

May 24 was listed as the official date of ASI launch, with no new official announcement at the time of writing. ASI token is slated to replace FET with a supply of 2.6 billion tokens. AGIX and OCEAN would be converted to ASI tokens at a ratio of 0.43:1, per the initial announcement by the Artificial superintelligence alliance.

Post the merger, the ASI token’s collective value would be $7.5 billion.

Following ASI announcement, other players in the industry’s AI sector announced their partnerships. Blockchain AI platform ChainGPT announced how it plans to hold the Initial DEX Offering (IDO) in partnership with KuCoin and Gate.io, for its Wisdomise AI project.

Web 3 base layer KIP Protocol announced earlier in May that it will partner with GPU cloud infrastructure provider Aethir and boost AI development in both projects.

FET, AGIX and OCEAN prices added nearly 2% gains to their value on Friday. The three AI tokens have rallied between 4% and 6% this week on Binance, as seen on TradingView.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Brent holds above $100 as tanker attacks tighten supply — but four forces are capping the rally Brent crude is holding above $100 a barrel for a second session, its first close above the level since late July, as tanker attacks near the Strait of Hormuz squeeze an already tight physical market. Yet the rally has been gradual: 8.3 mb/d of Gulf output is still shut in, diesel is at a record, and forecasts now range from $74 to $100.

Author Irene Q.

Sep 10, Thu

Brent crude is holding above $100 a barrel for a second session, its first close above the level since late July, as tanker attacks near the Strait of Hormuz squeeze an already tight physical market. Yet the rally has been gradual: 8.3 mb/d of Gulf output is still shut in, diesel is at a record, and forecasts now range from $74 to $100.

US August CPI lands tonight: after a 5.4% PPI shock, will the Fed hike on September 16?US August PPI came in at 5.4% year-on-year, above the 5.3% consensus, with core PPI at 4.6%. Traders have pushed the odds of a 25bp Fed hike on September 15-16 to around 70%. Tonight's CPI is the last major inflation print before the decision — here is the full calendar, the consensus numbers, and what a hot versus cool reading would mean for the dollar, yields, gold and stocks.

Author Irene Q.

Sep 11, Fri

US August PPI came in at 5.4% year-on-year, above the 5.3% consensus, with core PPI at 4.6%. Traders have pushed the odds of a 25bp Fed hike on September 15-16 to around 70%. Tonight's CPI is the last major inflation print before the decision — here is the full calendar, the consensus numbers, and what a hot versus cool reading would mean for the dollar, yields, gold and stocks.

Gold Price Forecast: PPI and Oil Prices Fuel Inflation Concerns, Can CPI Change Gold's Direction?As of the Asian session on September 11, gold prices (XAUUSD) remained in weak consolidation today after dropping sharply to near $4,300 on Thursday, with the latest price trading around

Author TradingKey

Sep 11, Fri

As of the Asian session on September 11, gold prices (XAUUSD) remained in weak consolidation today after dropping sharply to near $4,300 on Thursday, with the latest price trading around

Brent tests $108 as a key export pipeline stays shut — can the rally clear $110?Brent crude rose 2.55% to $106.97 and WTI 2.32% to $102.30 as a major regional export pipeline remained offline with no restart timeline. Front-month backwardation has widened to $5.53 from $3.84 a week ago, European gas is at its highest since December 2022, and one analyst sees $119.48 if talks stall.

Author Irene Q.

8 hours ago

Brent crude rose 2.55% to $106.97 and WTI 2.32% to $102.30 as a major regional export pipeline remained offline with no restart timeline. Front-month backwardation has widened to $5.53 from $3.84 a week ago, European gas is at its highest since December 2022, and one analyst sees $119.48 if talks stall.

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

7 hours ago

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Popular Symbols