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AI FET, AGIX, and OCEAN Tokens Rise in Merger Deal with ASI Token

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AI tokens FET, AGIX, and OCEAN have seen significant gains over the past 24 hours, amid trending discussions around the creation of a new “artificial superintelligence” (ASI) token.

Fetch.ai’s FET token saw a 6% rise, with its trading price at $3.26 and 24-hour trading volume up 57% to around $1.1 billion. Its market capitalization now stands at $2.73 billion, demonstrating strong investor interest.

AI FET, AGIX, and OCEAN Tokens Rise in Merger Deal with ASI Token – 1
24-Hour FET Price Chart | Source: CoinMarketCap

SingularityNET’s AGIX token also saw a significant rise, trading at $3.26, an increase of 10% over the same period. AGIX’s trading volume soared 150%, reaching around $554 million, while its market capitalization reached $1.7 billion.

AI FET, AGIX, and OCEAN Tokens Rise in Merger Deal with ASI Token – 2
AGIX 24 hour price chart | Source: CoinMarketCap

Of these, Ocean Protocol’s OCEAN token made the most notable gains, jumping 18%. Its trading volume exploded by 900%, amounting to approximately $640 million, for a total market capitalization of $820 million.

AI FET, AGIX, and OCEAN Tokens Rise in Merger Deal with ASI Token – 3
24 hour OCEAN price chart | Source: CoinMarketCap

This price movement indicates growing optimism among investors about the potential merger of these AI-focused projects.

This increase in value comes ahead of a community vote scheduled for April 2 for a proposed symbolic merger involving SingularityNet, Fetch.ai and Ocean Protocol, with a combined market capitalization of approximately $5.3 billion.

If approved, this merger would lead to the creation of the Artificial Superintelligence Alliance ASI token, aiming to consolidate the strengths of the three entities into a unified force capable of rivaling Big Tech’s dominance in AI.

The alliance, known as the Superintelligence Collective, aspires to merge Fetch.ai’s decentralized AI applications platform, SingularityNET’s AI services marketplace, and SingularityNET’s data exchange framework. Ocean Protocol.

The initiative is a response to the exponential growth of AI projects and aims to provide a decentralized alternative for the development, use and monetization of AI, challenging giants like OpenAI, Google and Microsoft.

Under the terms of the merger, a total of 2.631 billion ASI tokens will be distributed, replacing the existing AGIX, FET and OCEAN tokens, which would then be convertible into ASI at predetermined rates.

Details of the merger include a one-to-one swap rate for FET into ASI tokens, and additional ASI tokens will be issued to allocate 867 million to AGIX holders and 611 million to OCEAN token holders, resulting in fixed conversion rates for these tokens into ASI.

Token holders storing their AGIX and OCEAN tokens on exchanges do not need to take any action, as the conversion to ASI tokens will be handled directly by the exchanges.

This strategic move is supported by on-chain data and market sentiment analysis indicating a positive outlook for the merger, with a significant increase in the combined market capitalization of the category to $43.12 billion observed.

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