Ocean Protocol

SingularityNET

Apple

Artificial Superintelligence Alliance

<ul>
 <li>Fetch.ai (FET) surged by 27% yesterday, with trading volume doubling, inspired by a broader market rally that saw Nvidia eclipse Microsoft and Apple to become the world’s largest company.</li>
 <li>The upcoming merger with SingularityNET and OCEAN has excited investors, but token holders remain confused about the process and timelines.</li>
</ul>
Fetch.ai (FET) surged on Thursday amid a broader AI market rally led by Nvidia, the firm whose chips power today’s AI revolution.
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Nvidia made history this week after a stock surge that saw the chipmaker surpass Microsoft and Apple to become the world’s largest company by market capitalization. At $3.34 trillion, its market cap had shot up over ten times in the past 18 months.
In the crypto sector, AI-focused tokens defied the broader market to clock gains on Tuesday, Wednesday, and Thursday. Fetch.ai (FET), whose $4 billion market cap makes it the largest in the space, shot up from a weekly low of $1.12 to hit a high of $1.73. It has since dipped slightly and trades at $1.58 at press time amid a 4.2% loss in the past 24 hours.

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The token’s trading volume also surged as investors jumped in to ride the wave, doubling to surge past $400 million on Thursday. It has since dipped to $260 million.
According to one analyst, the next target is the $1.95-$2.55 range. In the six weeks to early April, Fetch.ai had surged by 600%, dwarfing most cryptos in the space. However, it then dipped to hit its lowest since March before finding support. The analyst believes that it will only surge higher from there.
He <a href="https://x.com/QuintenFrancois/status/1804094208111718415" target="_blank" rel="noopener noreferrer nofollow">told</a> his 113,000 followers on X:
<blockquote>
 It bounced nicely off $1.15 and is now looking to get back to $1.95, potentially going straight to $2.55 would not surpise me, because of the upcoming merge with OCEAN and AGIX to become ASI. I’m holding this one to the fucking moon for real. 
</blockquote>
The upcoming merge, as mentioned, will see the three largest AI tokens partner to form the Superintelligence Alliance (ASI). As Crypto News Flash <a href="https://www.crypto-news-flash.com/introducing-asi-fetch-ai-singularitynet-and-ocean-protocol-collaborate-for-superintelligence-alliance/" target="_blank" rel="noopener noreferrer nofollow">reported</a>, this will see the teams from Fetch.ai, SingularityNET, and Ocean Protocol merge their projects, with FET, AGIX, and OCEAN swapped for a new token: ASI.
As FET was surging on Wednesday and Thursday, AGIX followed a similar pattern. The token shot from $0.4702 to a weekly high of $0.6909 before plateauing. Its market cap stands at $854 million.
OCEAN also posted a similar price curve, shooting from $0.4788 to $0.6899 for an overall market cap of $376 million.
The merge, while exciting and potentially revolutionary for the entire sector, is still shrouded in mystery. For one, it’s unclear when the three chains merge.
In a recent X Space discussion, Fetch CEO Humayun Sheikh shied off from giving a definite timeline for the merger. However, there have been reports that the ASI testnet is already live and that the merger could be as soon as next month.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The upgrade from the <a href="https://twitter.com/search?q=%24FET&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FET</a> Network to <a href="https://twitter.com/search?q=%24ASI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ASI</a> Network is coming soon. Now the question is, how soon? <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f30b.png" alt="🌋" class="wp-smiley" style="height: 1em; max-height: 1em;">
 In the latest 𝕏 Spaces session on the <a href="https://twitter.com/ASI_Alliance?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@ASI_Alliance</a> account, <a href="https://twitter.com/HMsheikh4?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@HMsheikh4</a>, the CEO of <a href="https://t.co/g4CLYbPU8e" rel="noopener noreferrer nofollow">https://t.co/g4CLYbPU8e</a> and Artificial Superintelligence Alliance stated that those holding… <a href="https://t.co/Eg3bAq8e9t" rel="noopener noreferrer nofollow">pic.twitter.com/Eg3bAq8e9t</a>
 — GeoStaking (@GeoStaking) <a href="https://twitter.com/GeoStaking/status/1803533068839575868?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 19, 2024</a>
</blockquote>
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Other questions center on the transition from the current three coins to ASI. While some exchanges have pledged to make the transition smooth and automatic, those who hold their coins in self-custody are still in limbo. The conversion rates have also been preset—FET will swap 1:1 with ASI, while the others have lower swap values. However, it’s unclear if these swap values will be affected by how the three tokens trade in the lead-up to the merger.

Fetch.ai (FET) Trading Volume Surges 209% Leading up to ASI Alliance Initiative

Crypto News Flash

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