⚡️AI altcoins rally as Nvidia stock gains bullish momentum.
Fetch.ai (#FET ), SingularityNET (#AGIX ) and Ocean Protocol (#OCEAN ) have recorded impressive gains as the Nvidia stock price hikes.
FET is up by 35% in the past 24 hours and is trading at $1.71 at the time of writing. The asset’s market cap is currently sitting at $1.43 billion, making it the 61st-largest cryptocurrency. Fetch.ai’s daily trading volume doubled over the past day, reaching almost $400 million.
AGIX recorded a quite similar run. The AI token gained 29% in the past 24 hours and is trading at $0.68 at the reporting time. Its market cap is hovering close to the $900 million mark with a daily trading volume of $176 million.
The third partner of the Superintelligence Alliance (ASI) token, OCEAN, also recorded a 27% surge over the past day and is currently trading at $0.68. The asset’s #market cap is sitting at $390 million at the time of writing. OCEAN’s 24-hour trading volume increased by 180%, reaching $80 million.
In April, the Artificial Superintelligence Alliance announced that FET, AGIX and OCEAN would be merged into a single token. On June 3, SingularityNET shared the following conversion rates of the tokens to ASI:
⭕️FET will be converted to ASI at a conversion rate of 1:1.
⭕️AGIX will be converted to ASI at a conversion rate of 1:0.433350.
⭕️OCEAN will be converted to ASI at a conversion rate of 1:0.433226.
The surge in the AI tokens comes as the #Nvidia stock recorded a 3.51% hike on Wednesday — closing the day with a price of $135.58.
It’s important to note that the California-based graphics processor manufacturer is called one of the “three horsemen of AI” by MarketWatch. Notably, Nvidia has been developing an enterprise-level AI platform.