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

Source Fxstreet
May 24, 2024 08:00
  • 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.
placeholder
Crude Oil tests higher ground on quiet Wednesday, WTI touches $81.00 West Texas Intermediate (WTI) US Crude Oil tested into fresh Wednesday highs on thin volume, clipping $81.00 per barrel as commodities drift softly higher despite US exchanges shuttered for the Juneteenth holiday.
Author  FXStreet
West Texas Intermediate (WTI) US Crude Oil tested into fresh Wednesday highs on thin volume, clipping $81.00 per barrel as commodities drift softly higher despite US exchanges shuttered for the Juneteenth holiday.
placeholder
USD/JPY Price Analysis: Steadies as Asian session begins, above 158.00The USD/JPY remains flat as Thursday’s Asian session begins, yet it printed minuscule gains of 0.15% on Wednesday.
Author  FXStreet
The USD/JPY remains flat as Thursday’s Asian session begins, yet it printed minuscule gains of 0.15% on Wednesday.
placeholder
EUR/USD escapes Wednesday’s holiday volatility trap, set for wait to meaningful dataEUR/USD cycled on Wednesday with US markets out for a midweek holiday, and the Fiber heads into the back half of the trading week with mid-tier data on the offering, leaving investors to look ahead to Friday’s Purchasing Managers Index (PMI) activity figures for meaningful data releases to drive sentiment in either direction.
Author  FXStreet
EUR/USD cycled on Wednesday with US markets out for a midweek holiday, and the Fiber heads into the back half of the trading week with mid-tier data on the offering, leaving investors to look ahead to Friday’s Purchasing Managers Index (PMI) activity figures for meaningful data releases to drive sentiment in either direction.
placeholder
Bitcoin Dump Expected, BTC In The “Boring Zone” As Whales ExitBitcoin is under immense selling pressure at spot rates, tracking lower from the all-important resistance level of $66,000. Although BTC may even crash below the psychological line at $60,000 towards $56,500 or May 2024 lows, some analysts are upbeat.
Author  Bitcoinist
Bitcoin is under immense selling pressure at spot rates, tracking lower from the all-important resistance level of $66,000. Although BTC may even crash below the psychological line at $60,000 towards $56,500 or May 2024 lows, some analysts are upbeat.
placeholder
Solana Down 40% But Analyst Says Now’s The Time To Buy SOLSolana, one of the top altcoins, trailing Ethereum and the BNB Chain, has not been spared in the recent correction. After rallying to as high as $210 in Q1 2024, the coin is now sliding, facing strong headwinds, plunging, and following the performance posted by Bitcoin and Ethereum.
Author  NewsBTC
Solana, one of the top altcoins, trailing Ethereum and the BNB Chain, has not been spared in the recent correction. After rallying to as high as $210 in Q1 2024, the coin is now sliding, facing strong headwinds, plunging, and following the performance posted by Bitcoin and Ethereum.
goTop
quote