Remarkable Transaction Regarding Altcoin on the Eve of Merger: Are They Selling the News?

Cryptocurrency whales have started selling for the artificial intelligence altcoin, which will soon undergo a merger.

According to data provided by the on-chain analysis platform Spot On Chain, a wallet connected to SingularityNET (AGIX) went on sale on June 6.

The data revealed that the whale in question deposited 4 million AGIX worth $3.63 million into the cryptocurrency exchange Binance. This wallet had not made any transactions for the last 6 months.

Will big AI merger news turn into a sell-off?

AGIX, Fetch.ai (FET) and Ocean Protocol (OCEAN) will merge into a single cryptocurrency called the Artificial Superintelligence token (ASI) on June 13. This merger will bring with it a new token economy and dynamics.

In a bull market where the artificial intelligence craze is so dominant, the teams of 3 projects will try their luck to create a new hype.

FET will be positioned as the reserve token of the alliance. However, it will later become the Artificial SuperIntelligence ASI Token. The conversion rate is 1:1. There will be 1 ASI Token for every 1 FET.