Fetch.ai, SingularityNET and Ocean Protocol see nearly 2% gains in their prices, await ASI launch update
|- 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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.