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AI-Related Crypto Surges By 20 Percent In A Day, What’s The Sentiment?

AI-Related Crypto Surges By 20 Percent In A Day, What’s The Sentiment?

Amid the mostly sideways performance of major cryptocurrencies, AI-related crypto tokens including Fetch (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) have surged in recent days. FET, the utility token that powers Fetch.AI, a decentralized platform that provides the tools and infrastructure needed to build an AI-driven digital economy, was up 25 percent day-to-day, changing hands to USD 0.54. Perched at 86th by market cap, FET has enjoyed explosive growth since the start of the year. FET is up 106 percent over the week and more than 250 percent in the last 30 days.

AGIX, the native token that powers the decentralized platform for creating, distributing, and monetizing SingularityNET’s AI services, has seen more bullish price action since the start of the year, surging 883 percent over the past month. AGIX hit a 17-month high of USD 0.59 in the early hours of Tuesday before dropping to its current price of USD 0.54. The movement still shows a 22 percent increase in value over the last 24 hours.

SingularityNET, which runs on both Ethereum and Cardano, is focused heavily on improving interoperability between the two networks, launching a bridge to the token last year. The plan is that in the first quarter of this year, the ADA token will be introduced as a staking portal for Cardano.

Read More Getting to Know Stablecoins, Adoption of Crypto and Web3 Assets

Launching Decrypt, another token that has soared throughout the day is OCEAN from Ocean Protocol. Built on the Ethereum blockchain, Ocean Protocol aims to enable businesses and individuals to exchange and monetize data and data-driven services, particularly for AI, without compromising data privacy. OCEAN rallied 157 percent over the month and is up 24.3 percent in the last 24 hours to $0.53.

Meanwhile, Bitcoin (BTC) is temporarily up 0.9 percent throughout the day, trading just above USD 23,000. Ethereum is up 1.24 percent in the last 24 hours, currently trading around USD 1,640. The impressive performance for AI-related cryptocurrencies comes amid growing interest around artificial intelligence (AI) technological capabilities. Last month, Microsoft invested an additional USD 10 billion into OpenAI, the development studio behind the popular artificial intelligence tool ChatGPT.

The deal is a boost for Azure, Microsoft’s cloud computing platform, which will remain the exclusive cloud provider for all workloads across research, APIs, and OpenAI products. Microsoft also plans to implement the OpenAI model across its products.

Disclaimer : Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. is not responsible for profits and losses arising from investment decisions.

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