{"id":624279,"date":"2024-06-12T19:00:49","date_gmt":"2024-06-12T19:00:49","guid":{"rendered":"https:\/\/wncen.com\/?p=624279"},"modified":"2024-06-12T15:04:39","modified_gmt":"2024-06-12T15:04:39","slug":"fet-ocean-and-agix-drop-8-after-asi-token-merger-delay","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/fet-ocean-and-agix-drop-8-after-asi-token-merger-delay\/","title":{"rendered":"FET, OCEAN, And AGIX Drop 8% After ASI Token Merger Delay"},"content":{"rendered":"

The Artificial Superintelligence Alliance (ASI) announced its token merger would be postponed to next month after presenting logistical and technical issues. The alliance was set to merge Fetch.AI (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) into the ASI token on Thursday. As a result, the three AI tokens faced a 4% drop in the last 24 hours.<\/p>\n

Related Reading: Crypto Expert Reveals Top 7 AI Tokens For Massive 100x Growth \u2013 Don\u2019t Miss Out!<\/a><\/div>\n

ASI Token Merger Postponed To July<\/h2>\n

In March, Fetch.AI, SingularityNET, and Ocean Protocol, three leading AI blockchain projects, revealed<\/a> their plan to merge into the ASI token. This move aims to develop a decentralized AI platform to foster technology advancements accessible to a wider audience.<\/p>\n

On Tuesday, the ASI alliance announced<\/a> the delay of the token merger from June 13 to July 15, 2024. Per the announcement, the primary reasons for the rescheduling are \u201clogistical requirements\u201d and \u201ctechnical independencies.\u201d<\/p>\n

It was further explained that the ASI token merger involves managing complex integrations and attention to numerous moving parts. As a result, the delay was a \u201cstrategic decision\u201d to ensure a smooth execution during the process and ensure all \u201cstakeholders\u2019 needs are adequately met.\u201d<\/p>\n

Humayun Sheikh, Fetch.AI\u2019s CEO, and ASI\u2019s Chairman, reassured the community that the alliance\u2019s vision remained unchanged despite the delay.<\/p>\n

\n

This temporary delay does not impact the substantial progress we have made towards creating a decentralized superintelligence network. Our teams are actively working with centralized exchanges to finalize the remaining steps. We appreciate the continued support and patience of our community and stakeholders as we work through these final logistical steps.<\/p>\n<\/blockquote>\n

SingularityNET Foundation\u2019s CEO, Ben Goertzel, explained that they are working on integrating the three companies’ AI and blockchain technology. Additionally, he stated his excitement for the upcoming milestone:<\/p>\n

\n

The finalization of the 3-way tokenomic merger on July 15 will be a major milestone, and we anticipate a series of progressively more exciting milestones after that as we leverage our $ASI token-based network to move toward increasingly capable AI systems and in time actual superintelligence.<\/p>\n<\/blockquote>\n

FET, AGIX, And OCEAN Face 8% Drop<\/h2>\n

After the announcement, the three AI tokens<\/a> saw a negative price impact in the following hours. SingularutyNET\u2019s AGIX token saw an 8.9% decline, from trading at $0.7035 to $0.6404 throughout Tuesday. In the early hours of Wednesday, the token recovered some ground from the retrace. AGIX traded at $0.6819, a 3.8% decrease from the day before.<\/p>\n

Similarly, Ocean Protocol\u2019s OCEAN had an 8% drop after the news. The token\u2019s price went from trading at $0.7156 to $0.6576 before recovering the $0.68 support level on Wednesday morning. At the time, AGIX faced a 4.4% decline in its price before the announcement of the delay.<\/p>\n

Meanwhile, FET saw the largest retrace of the three, with a 10.8% drop. The token fell from the $1.66 price range to $1.48. Later, the token recovered above the $1.62 level, a 3.1% decrease from Tuesday morning.<\/p>\n

Crypto analyst Altcoin Sherpa commented<\/a> on FET\u2019s performance. The price drop was a good reminder that \u201ceverything comes back down eventually; you just have to be patient.\u201d \u00a0Moreover, Sherpa said the price range may be a good buy, but it was yet \u201cTBD if it’s ‘the bottom.’\u201d<\/p>\n

Related Reading: Dogwifhat To Tumble? Analyst Sets $1 Target For WIF<\/a><\/div>\n

However, the tokens have now recovered from the drop. As of this writing, FET is trading above the $1.7 price range. The surge<\/a> represents a 6.7% increase in the last hour and a 4.4% recovery from its price 24 hours ago.<\/p>\n

Similarly, AGIX and OCEAN have seen a 5.7% and 5.5% surge in the last hour. This represents a 3.4% and 3% increase since the ASI token merger delay announcement.<\/p>\n

\"FET,
FET’s performance in the three-day chart. Source: FETUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Artificial Superintelligence Alliance (ASI) announced its token merger would be postponed to next month after presenting logistical and technical issues. The alliance was set to merge Fetch.AI (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) into the ASI token on Thursday. As a result, the three AI tokens faced a 4% drop in the last 24 hours. Related Reading: Crypto Expert Reveals Top 7 AI Tokens For Massive 100x Growth \u2013 Don\u2019t Miss Out! ASI Token Merger Postponed To July In March, Fetch.AI, SingularityNET, and Ocean Protocol, three leading AI blockchain projects, revealed their plan to merge into the ASI token. This move aims to develop a decentralized AI platform to foster technology advancements accessible to a wider audience. On Tuesday, the ASI alliance announced the delay of the token merger from June 13 to July 15, 2024. Per the announcement, the primary reasons for the rescheduling are \u201clogistical requirements\u201d and \u201ctechnical independencies.\u201d It was further explained that the ASI token merger involves managing complex integrations and attention to numerous moving parts. As a result, the delay was a \u201cstrategic decision\u201d to ensure a smooth execution during the process and ensure all \u201cstakeholders\u2019 needs are adequately met.\u201d Humayun Sheikh, Fetch.AI\u2019s CEO, and ASI\u2019s Chairman, reassured the community that the alliance\u2019s vision remained unchanged despite the delay. This temporary delay does not impact the substantial progress we have made towards creating a decentralized superintelligence network. Our teams are actively working with centralized exchanges to finalize the remaining steps. We appreciate the continued support and patience of our community and stakeholders as we work through these final logistical steps. SingularityNET Foundation\u2019s CEO, Ben Goertzel, explained that they are working on integrating the three companies’ AI and blockchain technology. Additionally, he stated his excitement for the upcoming milestone: The finalization of the 3-way tokenomic merger on July 15 will be a major milestone, and we anticipate a series of progressively more exciting milestones after that as we leverage our $ASI token-based network to move toward increasingly capable AI systems and in time actual superintelligence. FET, AGIX, And OCEAN Face 8% Drop After the announcement, the three AI tokens saw a negative price impact in the following hours. SingularutyNET\u2019s AGIX token saw an 8.9% decline, from trading at $0.7035 to $0.6404 throughout Tuesday. In the early hours of Wednesday, the token recovered some ground from the retrace. AGIX traded at $0.6819, a 3.8% decrease from the day before. Similarly, Ocean Protocol\u2019s OCEAN had an 8% drop after the news. The token\u2019s price went from trading at $0.7156 to $0.6576 before recovering the $0.68 support level on Wednesday morning. At the time, AGIX faced a 4.4% decline in its price before the announcement of the delay. Meanwhile, FET saw the largest retrace of the three, with a 10.8% drop. The token fell from the $1.66 price range to $1.48. Later, the token recovered above the $1.62 level, a 3.1% decrease from Tuesday morning. Crypto analyst Altcoin Sherpa commented on FET\u2019s performance. The price drop was a good reminder that \u201ceverything comes back down eventually; you just have to be patient.\u201d \u00a0Moreover, Sherpa said the price range may be a good buy, but it was yet \u201cTBD if it’s ‘the bottom.’\u201d Related Reading: Dogwifhat To Tumble? Analyst Sets $1 Target For WIF However, the tokens have now recovered from the drop. As of this writing, FET is trading above the $1.7 price range. The surge represents a 6.7% increase in the last hour and a 4.4% recovery from its price 24 hours ago. Similarly, AGIX and OCEAN have seen a 5.7% and 5.5% surge in the last hour. This represents a 3.4% and 3% increase since the ASI token merger delay announcement. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":624280,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[87402,10151,87819,92573,92572,91936,87565,17203,87769,87139,87142,83356],"class_list":["post-624279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-agix","tag-ai","tag-ai-tokens","tag-artificial-superintelligence-alliance-asi","tag-asi-alliance","tag-asi-token","tag-fet","tag-fetch-ai","tag-fetusdt","tag-ocean","tag-ocean-protocol","tag-singularitynet"],"acf":[],"yoast_head":"\nFET, OCEAN, And AGIX Drop 8% After ASI Token Merger Delay<\/title>\n<meta name=\"description\" content=\"FET, AGIX, and OCEAN saw an 8% drop after the Artificial Superintelligence Alliance (ASI) announced the delay of 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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