🚀 According to AMBCrypto: Can
$FET ,
$AGIX , and
$OCEAN merger spark another AI season?
AMBCrypto observed that the impressive performances have driven the market cap of the category to $43.12 billion.
An hour after the development became public, the price of FET jumped by 3.78%. AGIX rose by 2.79% while OCEAN’s value climbed by 5.81%.
The price action of these tokens displayed increasing optimism about the outcome of the proposal. Furthermore, on-chain data showed the sentiment around these cryptocurrencies was starting to change.
Before the proposal came out, many AI tokens lost the goodwill they had earlier in the market. This was evident in the previous Weighted Sentiment reading.
At press time, the individual Weighted Sentiment readings of FET, AGIX, and OCEAN have improved. Though the sentiment around AGIX and FET remained negative, OCEAN rose much higher.
The rise in sentiment implied that participants were no more bearish on the projects. Going forward, there could be a case of “buy the rumor.”
Buying the rumor here means that demand for the tokens might increase. This is because traders might accumulate the tokens in anticipation of a positive declaration. If the projects agree to the proposal, the market might experience a significant shift.
This potential shift could drive a rally that could see many AI tokens hit new highs. However, if the deal falls through, the prices might jump later. But a significant correction might appear before that.
In addition, AMBCrypto looked at the number of holders of each of these projects. As of this writing, the total amount of FET holders was 71,700. OCEAN had a lower number at 67,100 while AGIX was higher at 101,000 holders.
Should the proposal become a reality, the total number of “ASI” holders might be much more than these figures.
Until the projects conclude, they would continue as separate bodies. However, details from the report showed that the ranks might change if they reach an agreement.
#fet.ai #agix #OCEAN/USDT