Recently, the market performance of Artificial Intelligence Super League (FET) has regained support, while SingularityNet (AGIX) has performed poorly in the days after the ASI merger. This article will deeply analyze the market performance of these three artificial intelligence cryptocurrencies and explore the reasons behind and their future potential.

Artificial Intelligence Cryptocurrency Market Overview

As the demand for artificial intelligence in the real world continues to grow, multiple AI tokens have entered the cryptocurrency market and become one of the most in-demand assets. Although new AI tokens continue to emerge in the market, FET, OCEAN, and AGIX still dominate. By establishing the ASI Alliance, these three tokens will become more competitive and advantageous.

Impact of the ASI merger

The first phase of the merger of the Artificial Intelligence Superintelligence (ASI) was completed earlier this month. The merger combined the Ocean Protocol token (OCEAN) and SingularityNet token (AGIX) into the Fetch.ai (FET) token and renamed it the Artificial Intelligence Superintelligence Alliance.

Impact of Phase 1 completion on the market

According to the merger plan, AGIX has been migrated to FET at an exchange rate of 1AGIX to 0.4335 FET. In the next phase, FET tokens will be further migrated to ASI in mid- or late July. It is worth noting that a few exchanges such as Coinbase rejected this merger, so trading of these tokens can still be carried out.

Price Performance and Market Reaction

After the news of the ASI merger was revealed, the prices of these tokens were immediately affected. On June 20, 2024, the prices of AGIX and FET rose by more than 30% after months of decline. Analysts expected investors to benefit, but the market reaction was mixed as the first phase of the merger was completed.

On July 1, FET was trading at $1.44, but then fell to $1.27. As the market crashed, FET prices fell 8% in a week. However, in the past 24 hours, FET prices have risen by 3% and are currently trading at $1.20.

AGIX’s weak performance

In contrast, AGIX's performance appears weak. Since July 5, AGIX prices have continued to fall, falling 15% in a week. This is not a gradual decline, but a sudden collapse in value. The price chart of OCEAN also shows a similar trend, with a price drop of 13%, but it has recovered slightly in the past 24 hours and the current price is $0.5233.
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