Published on juni 22, 2024, 12:26 am
Image source: Fox News
```json [ "TLDR: Altcoins Fetch.ai (FET) and SingularityNET (AGIX) have shown considerable price recovery, with gains of 37% and over 33% within 24 hours. The resurgence is linked to an upcoming merger involving Fetch.ai, SingularityNET, and Ocean Protocol. Market experts attribute the rally to growing interest in AI technology, with Nvidia's market success indicating a positive trend. Both tokens have seen significant growth over the year due to investor excitement about artificial general intelligence (AGI). Reminder: This article does not offer investment advice." ] ```
Both Altcoin tokens Fetch and SingularityNET have experienced a significant price recovery following a three-month downtrend, marking a pivotal moment in the world of cryptocurrency. Fetch.ai (FET) and SingularityNET (AGIX) saw impressive rallies of 37% and over 33%, respectively, within just 24 hours, according to TradingView data.
The resurgence of these AI-based cryptocurrencies began on June 19 after enduring a prolonged downward trend since the end of March. FET faced a decline of more than 31%, while AGIX witnessed a decrease of over 36% during this challenging period.
The recent boost in prices can be attributed to the anticipation surrounding the upcoming merger involving SingularityNET, Fetch.ai, and Ocean Protocol. Vlad Balaban, co-founder of GT Protocol, emphasized this major development by highlighting SingularityNET’s announcement regarding the Artificial Superintelligence Alliance (ASI) token merger scheduled for July 1.
The AI sector has been under the spotlight recently with Nvidia emerging as the world’s most valuable publicly traded company on June 18 due to the substantial rise in its market capitalization driven by its prowess in graphics processing and AI chips. Edward Wilson from Nansen.ai noted that these industry advancements have played a significant role in fueling the rally of FET and AGIX tokens.
Investor interest in AI technology remains robust as evidenced by FET’s remarkable 750% increase on its yearly chart and AGIX’s impressive growth of 192%. A notable aspect contributing to this enthusiasm is the evolving concept of artificial general intelligence (AGI), highlighting the immense potential that lies ahead in this domain.
It’s essential to underline that this article does not provide investment advice or recommendations. As with any investment decision, there are inherent risks involved, necessitating readers to conduct thorough research before making financial choices.
Original article posted by Fox News
