FET, AGIX, and ARKM Lead Al Coin Rally
The global crypto market is currently experiencing margin growth over the last 24 hours. According to fresh data from CoinMarketCap, the total crypto market cap has grown by a slight 1.12% to $2.39 trillion within the recorded time with a trading volume of $58.62 billion.
Against the backdrop of the positive market sentiment, AI tokens are beginning to rally with coins like Fetch.AI, SingularityNET (AGIX), and Arkham (ARKM) at the forefront. At press time, general investors’ emotions, as portrayed in the crypto fear and greed index, rest at point 60, signifying ‘Greed.’
The aforementioned tokens have recorded impressive gains over the last day and investors are hoping for an even higher price trajectory. Let us look in detail below:
AI Coin Market Experience Surge
Meanwhile, the total crypto market cap for AI-related crypto has jumped by 6.67% to $30.5 billion. Additionally, the 24-hour trading activities surrounding this category of cryptocurrencies have grown by 7.7% to $2.5 billion. Leading the charge, Fetch.AI (FET), an artificial intelligence lab that democratizes access to AI technology, has surged by 26.51% to trade at $1.62. Additionally, the trading volume for FET has skyrocketed by 164% to $507.4 million with a live market cap of $1.37 billion.
SingularityNET (AGIX), a blockchain-powered platform that enables the creation, sharing, and monetizing of AI services, recorded significant growth as well. According to CoinMarketCap data, AGIX is now trading at $0.66, representing a 24.92% increase in the last 24 hours. FET trading volume has also spiked by 145.6% to $215 million with a live market cap of $864.4 million.
The price of Arkham (ARKM), a blockchain analysis platform, has experienced a 16.2% increase in the last 24 hours to trade at $1.91. However, the ARKM trading volume has dropped by 1.56% to $76.1 million. ARKM positions as the 148th largest cryptocurrency with a live market cap of $392.9 million.
Fetch.ai, SingularityNet, and Ocean Protocol to Merge
Recall that in April, it was announced that Fetch.ai (FET), SingularityNet (AGIX), and Ocean Protocol (OCEAN) will be merged to establish the Superintelligence Alliance. The three AI tokens will be consolidated to create a universal AI token, the $ASI. SingularityNET announced on June 3 the conversion rate for the ASI tokens. According to the announcement, FET will be converted to ASI at a conversion rate of 1:1, AGIX will be converted to ASI at a conversion rate of 1:0.433350, and OCEAN will be converted to ASI at a conversion rate of 1:0.433226.
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