Fetch.ai, Ocean Protocol, and SingularityNET finalize the Artificial Superintelligence Alliance (ASI) merger.
The merger creates a decentralized alternative to Big Tech-dominated AI projects.
FET, currently at $1.59, could rally toward the $1.92 – $2.46 zone after bouncing from key support.
According to the post below, Fetch.ai’s (FET) current performance signals a huge potential for significant growth. The recent 28% surge positions FET as a top gainer in the crypto market, and the buzz surrounding it is palpable.
$FET is looking to get back to the $1.95 – $2.55 range.After surging 600% in 6 weeks, it took quite a hit during the correction. The good news is, this was undiscovered territory (no strong support levels yet) and has now established some new levels.It bounced nicely off… pic.twitter.com/HoX7ZhtCd4
— Quinten | 048.eth (@QuintenFrancois) June 21, 2024
The Merger Buzz
Analysts suggest that this sudden surge lies in the upcoming merger. FET is set to join forces with other AI tokens to form the Artificial Superintelligence Alliance (ASI).
The ASI merger combines FET with Ocean Protocol (OCEAN) and SingularityNET (AGIX), creating a powerful coalition in the AI crypto sphere. Also, recent advancements in AI technology by industry giants like Elon Musk’s xAI and Nvidia have had a positive ripple effect on AI-driven cryptocurrencies. Fetch.ai, being at the forefront of this trend, has reaped the benefits.
The Technical Picture
FET’s price currently hovers around $1.95, just below the critical support level of $1.96. This support has been tested multiple times and remains unbroken. Historically, significant gains have followed a bounce back from this level. If FET successfully breaches the $2.26 barrier, we could see a rally towards $2.46—a potential 25% increase.
While market sentiment is bullish, technical indicators paint a different picture. FET’s Relative Strength Index (RSI) on the 4-hour chart has reached 75, indicating overbought conditions. This suggests that investors might start taking profits, potentially leading to a price correction.
Additionally, some traders on major exchanges like Binance remain skeptical about FET’s long-term potential. Additionally, a recent warning about the delisting of the FET/USDT trading pair on Binance caused temporary volatility.
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SingularityNET (AGIX) And Fetch.ai (FET) Seek Room For Higher Gains, But Investors Target Higher Profit Margin On Algotech (ALGT) Presale
What Does the Monumental ASI Merge Mean for OCEAN, FET, and AGIX?
The post FET AI Crypto Altcoin Surges Ahead Of Merger: Can Fetch.ai Rally to the $1.95 – $2.55 Range? appeared first on Crypto News Land.

Why You Should Diversify Your Digital Asset Portfolio
Digital assets may be one of the few markets where diversification still seems underappreciated. Bitcoin and Ethereum remain dominant by market cap despite a growing number of innovative new projects, and many investment products provide only a handful of concentrated positions.
At Outerlands Capital we have written about the benefit to risk-adjusted returns from diversification. Individually, smaller projects may carry higher risk, but investing across a broad mix of projects can reduce volatility and improve risk-return metrics like the Sharpe ratio (returns normalized for volatility). However, there’s more to diversification than higher Sharpe ratios.
In a market as dynamic as crypto, diversification is essential to gain exposure to the varied and evolving mix of themes and sectors built around blockchain technology. Diversification is about solving for the power law distribution of returns, whereby a portfolio’s return is driven by a small number of highly positive outcomes against a larger number of investments that deliver lower, or negative, returns. This phenomenon is well documented in venture capital (VC) investing, and the concept carries over to digital asset investments, which are akin to investments in disruptive tech startups. Diversifying makes sure your portfolio has enough shots-on-goal to capture the biggest winners over time.
A concentrated portfolio of just a handful of tokens will struggle to capture the range of exciting crypto use-cases being developed today. Take, for example, the 10 largest cryptocurrencies by market capitalization – a popular take on a ready-made “diversified” portfolio. You have here, essentially, a mix of currencies and Layer 1s. While these larger tokens are sometimes seen as less risky on account of scale, such a selection fails to capture much of the current innovation happening in crypto.
Expand to an actively managed portfolio encompassing tokens from the Top 150 by market cap and you start to see a much more dynamic picture, spanning Layer 1s and related infrastructure (like scaling solutions and interoperability), DeFi (from trading and lending to asset management), entertainment (including gaming and the metaverse), decentralized physical infrastructure networks (DePIN, including projects for distributed compute power with tie-ins to AI), real-world-assets (RWAs), and more. While some of these projects may carry greater risk on their own, diversification helps manage the risk of the overall portfolio.

Portfolios should be positioned to capture emerging themes and new directions as projects across the space continue to innovate, searching for product-market-fit. Even in the more developed parts of the crypto ecosystem, such as payments or Layer 1s, we believe it is still much too early to call winners. The pace of innovation means disruption will continue to be the norm.
The nascency of the market and its fast-paced evolution also mean that an active approach to portfolio management is imperative: Diversified is not equal to passive. Building a well diversified portfolio does not mean just buying more, smaller assets. It means taking a long-term perspective on the scale and scope of the digital assets ecosystem, and positioning a portfolio to take advantage of the many different potential outcomes.
Coming out of crypto conferences like Consensus, AIMA Digital Assets, Token2049, and DAS, we are again emboldened in our assessment that the average institutional crypto portfolio is simply not exposed to enough of the disruptive use-cases being tested in digital assets today. Budding themes such as DePIN, innovative scaling solutions for Ethereum and also Bitcoin, and bringing real-world-assets on-chain all require a deep look past the largest tokens, and should encourage portfolios of digital assets spanning many sectors and project sizes.
Remember that diversifying doesn’t make a portfolio less potent - it actually gives investors more opportunities to capture winners, while still providing time-tested risk benefits. In essence, diversification gives you more for less.
Via Cryptonews Coinbase.
Disclosure: The information herein is for general information purposes only and is not investment advice. An investment involves a high degree of risk. Past performance is not necessarily indicative of future results.

Crypto news & updates:#ToncoinSurge
Toncoin’s loss is the highest again. It’s followed by XRP and Bitcoin (BTC). The former saw a 0.35% drop to $0.49249. The latter decreased by 0.14%, now trading at $65,549.

On the other hand, Ethereum (ETH) increased the most. It’s up 3.22%, currently changing hands at $3,558.

The remaining coins on this green list are up between 1.6% and 3.2%.

Meanwhile, the US Securities and Exchanges Commission ended its investigation into whether ETH is a security, according to Ethereum developer Consensys. “This means that the SEC will not bring charges alleging that sales of ETH are securities transactions,” they said.

Also, on June 18, Bitcoin moved to third place among the top blockchains by NFT sales ranking, with an all-time sales volume of $4.29 billion.

Investor Profitability is Robust Despite the Volatility

Despite “chaotic price action,” investor profitability still remains robust, says the latest report by the blockchain analytics firm Glassnode.

Currently, the average coin holds an unrealized profit of around +120%.

This is typical of previous markets trading around the previous cycle all-time high, the analysts said.

The Market Value to Realized Value (MVRV) Ratio remains above its yearly baseline, which indicates that the macro uptrend is intact.

The MVRV Ratio and deviation range “highlights the statistically high profit the average investor is holding despite the recent choppy market conditions.”

Also, investors remain in a generally favorable position. Over 87% of the circulating supply is held in profit, with a cost basis below the spot price.

Meanwhile, regardless of the healthy investor profitability, the volume processed and transferred on the Bitcoin Network following the ATH has declined “drastically.”

The analysts remarked that this “underscores a reduced appetite for speculation and heightened indecision in the market.”

Additionally, looking at the Spot Volume traded across major centralized exchanges, the analysts found “a sentiment of boredom amongst investors.”