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- 1 Fetch.ai, SingularityNET, and Ocean Protocol have collaborated to establish a super intelligence alliance.
- 2 The FET price is currently trading near $1.22, with a drop of 13.11% in the past 24 hours.
Fetch.AI is a Cambridge-based company redefining the possibilities of a connected world through AI agent-based technology. Their infrastructure enables developers and businesses to build, deploy, and monetize through an agent-based modular platform for the new generation of AI applications. Their Digital Twin Framework provides modular components that help teams build marketplaces, skills, and intelligence for digital twins to connect with.
Source: Fetch.ai
The Artificial Superintelligence Alliance, comprises SingularityNET, Fetch.ai, and Ocean Protocol, has rescheduled the ASI token merger from June 13 to July 15, 2024. It is done to address the logistical and technical requirements of the upcoming merger. The merger will see FET, AGIX, and OCEAN tokens combine into ASI on July 15. As of now, tokens will continue trading independently until the merger. The delay is due to ensuring accuracy and efficiency within the protocol. As Per the official blog of Fetch.ai, the support will be available through official channels. Meanwhile, the protocol leaders have emphasized the alliance’s commitment to creating a decentralized superintelligence network. Let’s see what the Artificial Superintelligence Alliance is
What Will Be the Effect on FET After ASI?
ASI is a one-of-a-kind AI tokenomic merger that combines three premier projects from the blockchain space, creating an independent, open-source leader in the development of artificial general intelligence. This merger seeks to accelerate progress toward decentralized AGI and further toward the next step of Artificial Superintelligence. That also leads to a single $ASI token with a combined utility of the three ecosystems.
Source: Tokenunlock by Coinmarketcap
FET has a total supply of 2,630,547,141 FET, of which 32.2% of the supply is circulating in the market. It has a staking APR of 10.35% with an inflation rate of 3%. They have 70 active validators out of 129 validators. Meanwhile, 28.4% of the total supply of FET is currently staked.
Fetch.ai community voting has taken place on the Fetch network. Meanwhile, the merger will take place in July 2024. Let’s see the price action scenario of the FET
Will FET Hit $2 Before the Merger?
Fetch.ai has a market cap of $1.08 Billion and is ranked 69th in the cryptoverse. The volume of the asset price has observed a gain of 222% in the past 24 hours. The current VM ratio of the FET suggests a consolidated momentum in the asset price. FET is currently trading near the value of $1.22, with a drop of 12% in the intraday session.
FET price is currently in a solid bearish downtrend channel. It is trading below the 50 and 100 EMAs on the daily chart. The upside trend of FET can see a halt near the value of $1.8, while the support of the asset price can be seen near $1
The RSI of FET is currently near 23 with a solid negative slope. The overall sentiment of the RSI is bearish in nature
Conclusion
The merger of FET, SingularityNET, and Ocean protocol can prove to be a significant step in the path of AGI. FET is currently trading in a bearish trend but can see a new high in the future.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
