Artificial intelligence has transformed numerous industries, including blockchain. By integrating AI into cryptocurrency, the technology has enhanced efficiency, security, and decision-making. This evolution has given rise to AI-centric tokens like Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (ROSE), positioning them as among the top investment choices for crypto enthusiasts.
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ASI Token Merger Unites Fetch.ai, SingularityNET, and Ocean Protocol
The Artificial Superintelligence Alliance (ASI) token merger, involving SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN), will be implemented in a revised two-phase process starting in July 2024. This strategic initiative aims to integrate these three tokens into a unified ASI token, establishing a robust, decentralized AI ecosystem.
https://t.co/GdSj7PdN0D
— Artificial Superintelligence Alliance (@ASI_Alliance) June 24, 2024
The initial phase will focus on merging the tokens on the Ethereum blockchain, where AGIX and OCEAN will temporarily merge into FET under the ASI banner. During this phase, FET trading will continue uninterrupted under the same ticker. The second phase will involve onboarding community members, particularly those who have chosen to self-custody their funds.
The ASI token will be deployed across multiple blockchains, with Fetch.ai’s network upgrading to the ASI network. Concurrently, exchanges will begin migrating spot markets from FET to ASI. This merger is aimed to challenge the dominance of big tech in AI development by creating the world’s largest independent AI foundation.
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Fetch.ai (FET)
Fetch.ai (FET) is a Cambridge-based artificial intelligence company that focuses on creating a decentralized network where autonomous agents perform complex tasks for users.
Fetch.ai (FET)| Tradingview
The FET price entered its current correction trend in late March after its price peaked at $3.48. The bearish reversal rebounding within two trendlines revealed the flag pattern formation in the daily chart.
On June 18th, the Fetch.ai coin rebounded from $1.1 and uplifted the asset 51% to currently trade at $1.66, while the market cap jumped to $1.4 Billion.
If the pattern holds true, the FET price could breach the overhead trendline allowing buyers to target $22.
SingularityNET (AGIX)
SingularityNET (AGIX) is a decentralized platform that merges artificial intelligence (AI) with blockchain technology to democratize access to AI services.
SingularityNET (AGIX)| Tradingview
Amid the recent market correction, the AGIX price witnessed an aggressive sell-off from $1.46 to $0.46 registering a loss of $0.46. However, the aforementioned coinciding close with an ascending trendline and 78.6% Fibonacci retracement level created a high accumulation point.
The recent reversal from the support has uplifted the SingularityNET coin 48.5% to trade at $0.693, while the market cap surged to $892.5 Million.
With an intraday gain of 3.5%, the AGIX price teases an upside breakout from the 200-day EMA. If that happens, the buyers will restore crucial support, maintain dominance, and chase a higher target above $1.46.
Ocean Protocol (OCEAN)
Ocean Protocol (OCEAN) is a decentralized data exchange protocol designed to unlock data for AI consumption while ensuring privacy and security.
Ocean Protocol (OCEAN)| Tradingview
On May 22nd, the OCEAN price gave a V-top reversal from the $1.1 resistance which tumbled its value 75% to reach a low of $0.47. This reversal developed a lower high formation in the daily chart, projecting an early sign of trend reversal favoring sellers.
As market selling pressure eased off on Tuesday, the Ocean protocol coin stabilized above the support trendline of the flag pattern at $0.085. Under the influence of the chart setup, the buyers pushed the asset 42% to reach $0.67 and uplifted the market cap of $385.5 Million.
A breakout from the flag pattern is crucial for the OCEAN price to target a rally beyond $4.
Key Takeaway
The ASI token merger, integrating Fetch.ai, SingularityNET, and Ocean Protocol, presents significant growth potential by consolidating resources and enhancing market presence. Ahead of the ASI merger, Fetch.ai (FET) displays a strong bull flag pattern, indicating potential for high-momentum trades. Ocean Protocol (OCEAN) is eyeing a key resistance breakout, offering opportunities for traders seeking higher gains. Meanwhile, SingularityNET (AGIX) has shown a significant reversal from its support trendline, suggesting a slower but stable.
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Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
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.
