Fetch AI reveals key details of ASI token merger

Fetch AI recently revealed key details of the highly anticipated ASI token merger, which attracted widespread attention from investors. However, the prices of FET, AGIX, and OCEAN all fell today.

Key Points

Fetch AI shared key details of the upcoming ASI token merger: July 1, 2024 is a key date for the merger plan. The ASI token merger will unfold in two important phases, first with the integration of AGIX and OCEAN tokens into FET, and then the transition of FET tokens to ASI. During the first phase, FET trading will remain uninterrupted, ensuring a seamless rebranding process on the platform. The second phase will focus on community engagement and deployment of ASI tokens, giving priority to holders of self-custodial tokens. Key dates include the July 1 conversion and ASI branding. FET mainnet tokens will automatically convert to ASI during the Fetch AI mainnet upgrade. Fetch AI emphasizes caution during the transition, warning users to beware of impersonation scams, fake links, and fake social media accounts.

Market reaction

The prices of the three cryptocurrencies involved in the merger all fell: FET price fell by 4.18%. AGIX price fell by 4.24%. OCEAN price fell by nearly 4%.

Fetch AI's merger plan had a significant impact on the market. Although the project side worked hard to ensure a smooth transition, the market reaction was still negative, indicating that investors were concerned about future uncertainties.