- AI market cap to surge from $20B to $40B.
- Fetch.ai rebrands as ASI, merges with Ocean and SingularityNET.
- Whales accumulate $73M in FET, signaling major interest.
The market capitalization of AI tokens is projected to double, from $20 billion to $40 billion, within the next year, signaling a massive leap in AI advancement. Among the leading players in this burgeoning market are Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX), which form the trifecta of AI tokens.
Fetch.ai (FET) is at the forefront of decentralized AI and has recently partnered with Ocean Protocol (OCEAN) and SingularityNET (AGIX) to form the Artificial Superintelligence Alliance (ASI). Following this merger, Fetch.ai has rebranded, although it still retains its original ticker, $FET.
While Fetch.ai is pioneering machine interactions and transactions, Ocean Protocol facilitates AI-driven innovation by unlocking data across industries, and SingularityNET democratizes artificial general intelligence (AGI), making advanced AI accessible to everyone.
FET is currently trading at the 50-week moving average, around $1.20. This is a significant level of support, as the price has bounced off this level in the past. Market experts believe this could signal a short-term price surge. Whales have accumulated over $73 million worth of FET in the past week, highlighting significant institutional interest despite its modest market cap of $3 billion.
Source:wickhunterr
Ocean Protocol (OCEAN): OCEAN is trading at $0.5182 with a market cap of $316.64 million. After being in a downtrend for the past few weeks, the AI token has reached a critical support level around $0.5155.
A drop below this level could trigger further downward pressure. However, the RSI indicator is currently at 51.36, suggesting the market is neither overbought nor oversold. This could indicate a potential reversal in the price trend.
SingularityNET (AGIX) is currently trading at $0.4961, which is up 3.51% for the day. The price appears to be consolidating after a recent decline. The Bollinger Bands indicator shows that the price is hovering near the lower Bollinger Band, which could indicate that the price is oversold. This could be a sign that a reversal is possible soon.
The Relative Strength Index (RSI) is currently at 41.87, which also suggests that the market is oversold. However, it is important to note that the RSI has been trending upward recently, which could indicate that buying pressure is starting to increase or that selling pressure has maxed out.
The ASI merger reflects the rapidly evolving AI landscape, where decentralized solutions and blockchain technology are playing an increasingly important role. With strong institutional backing, the ASI Alliance is well-positioned to reshape the future of AI within the crypto realm.
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