While Bitcoin and Ethereum haven’t escaped from their bearish outlook, Fetch.ai (FET) and SingularityNET (AGIX) have emerged as top performers in the last 24 hours.
Both these tokens experienced double digit price surges, defying the whole market direction. FET has risen by 21.84% to reach $1.67, while AGIX has climbed 20.80% to $0.6949.
Potential Collaboration with Injective Fuels FET’s Rise
The notable performance of FET can be attributed, in part, to speculation surrounding a potential collaboration with Injective (INJ). A cryptic tweet from Injective’s official account hinting at a brewing partnership with FET has ignited interest in both projects.
Something is brewing…$FET $INJ pic.twitter.com/mQdYoZIIfT
— Injective (@injective) June 24, 2024
According to GeoStaking, an X account, the upcoming IBC upgrade for Injective could enable the platform to utilize Fetch.ai’s AI agents for its DeFi services. Such integration would likely drive demand for FET tokens, as they are required as gas to perform work on the Fetch.ai network.
Adding to the bullish sentiment surrounding these AI-focused tokens is the anticipated merger of Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) into a single token called ASI (Artificial Superintelligence).
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Show more +Show less – AGIX Technical Analysis Points to Further Upside
Crypto analyst DavidOnCrypto, who had previously recommended buying these AI coins at much lower prices, remains bullish on the merged entity until the end of the current market cycle.
Technical analysis from analyst Decilizer suggests that AGIX is gaining strength and continuing its uptrend. The confirmation of support at the $0.60 level has bolstered confidence in the token’s trajectory. Decilizer predicts that AGIX could reach its $1.40 target sooner than expected.
The surge in FET and AGIX prices reflects the growing interest in AI-focused blockchain projects. As the merger into ASI approaches and potential collaborations with established platforms like Injective materialize, these tokens may continue to outperform the broader cryptocurrency market.
The double digit gains has also been visible in other coins like Render, Akash Network, Arkham, etc. The whole AI sector seems to be trading in the green now.
Also checkout: Where The Solana (SOL) Price Is Headed Next
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The post Here’s Why Fetch.ai (FET) and SingularityNet (AGIX) Prices Are Pumping appeared first on CaptainAltcoin.