Artificial Intelligence (AI) based tokens have seen an increase in interest, underscored by the spike in social volume towards Synth AI, the solution formed from the integration of cryptocurrency and AI.
Growing Interest in AI Tokens
Blockchain analytics platform Santiment provided insights into the level of engagement that the AI sector has registered in the run-up to the weekend. The analytics platform noted that the social boost in AI tokens is enough reason to focus on this sector. The regulation of Fetch.ai (FET), Ocean Protocol (OCEAN), SingularityNET (AGIX), and Bittensor (TAO) was also highlighted.
🤖👀 Keep an eye on AI projects this weekend and early part of next week. There has been another gradual rise in social volume toward Synth AI, and regulation for projects like $FET, $OCEAN, $AGIX, and $TAO. These spikes in crowd interest are often followed by rises in price. pic.twitter.com/23qsh95SQe
— Santiment (@santimentfeed) June 8, 2024
It is worth noting that AI tops the list of one of the most commonly discussed subjects in the crypto ecosystem. The discussions centers around he use of AI solutions in trading, innovation and decentralization. Notably, attention has been drawn to the intersection of AI and cryptocurrencies found on Synth AI.
This platform offers advanced AI algorithm for intelligent insights and automated trading. These are a few of the numerous AI-related topics that users are interested in per Santiment.
The frequent conversations on the capabilities of AI hints interest in other parts of the sector including AI tokens. AI enthusiasts may be willing to plunge funds into the acquisition of these token, a move that might stir a ripple effect on their individual prices.
Currently, TAO is trading at $364.97 with a 6.05% drop. AGIX is priced at $0.7357, down by 4.33%. While FET comes in at $1.74Â with a decline of 4.78%, OCEAN is down 5% to $0.7465.
The ASI Alliance
Noteworthy, SingularityNET, Fetch AI, and Ocean Protocol have agreed to merge their crypto tokens after constructive discussions. The plan is to develop a centralized AI platform, witnessing a merger of AGIX, FET, and OCEAN tokens into an Artificial Superintelligence (ASI) alliance and token with a fully diluted value of about $7.5 billion.
Seeing that the merger move had to gain support from each protocol’s community members, SingularityNET, Fetch.ai and Ocean Protocol swung into action to launch their individual voting process.
Subsequently, a significant majority of their token holders voted in favor of the potential ASI Alliance proposal. The merger does not impact on the individual operation of each entity. Rather, it pushes further the milestone of integrating AI and blockchain. Such integrations is fast becoming the trend in the crypto ecosystem. Further advances in these tokens might have a major sway on the broader market in the long term.
Read More: Is Uniswap Planning To Sunset Gas Fee? Founder Drops Unusual Hint
✓ Share:
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Refer And Earn Demat Account – Get ₹300 | Referral Program
