FET and OCEAN Stands Strong But AGIX Weakens; Here Is why

AI’s growing demand in the real world has brought multiple AI tokens into the crypto market, and unsurprisingly, they have become one of the most-demand cryptocurrencies in the market. Over time, this category has grown continuously, adding newer and better tokens, but the superiority is still in the hands of the three AI cryptos, which are FET, OCEAN, and AGIX, and these are going to be even superior as these have created an ASI alliance.

The Artificial Superintelligence Alliance (ASI) or Merger consolidates these tokens into one single token ASI to build a super AI token.

ASI Merger Completes Phase1 Favoring The FET

The first phase, or Phase 1 of the ASI Token Merger, was finished at the beginning of the month, in which the Ocean Protocol token, OCEAN, and SingularityNet token AGIX merged into the Fetch, ai (FET) token. More importantly, Fetch.ai has rebranded itself to the Artificial Superintelligence Alliance, and the other two are in the process of delisting from many exchanges.

As per the guidelines, with the ASI Merger, AGIX has migrated to FET with a conversion rate of 1AGIX to 0.4335 FET. And in the next phase, the FET token will migrate to ASI by mid or late July.

However, a few exchanges, like Coinbase, have rejected this merger, and the trading of these tokens is still available. Interested users in participating have to do this manually by withdrawing their tokens from the exchanges.

FET And OCEAN Prices Surged While AGIX Price Dropped

The ASI Merger news was revealed in mid-June, and the immediate effect was on these tokens’ prices. On June 20, 2024, the AGIX and FET prices hiked more than 30% after months of downtrend. Analysts anticipated great success among investors, but with the completion of phase 1, investors reacted differently.

On July 1, FET was trading at $1.44, but in the next few hours, the price had dropped to $1.27. With the crypto market crash, the conditions worsened, as over the week, the FET price has declined 8%, but the last 24 hours changed that. The FET price is currently $1.20 and has surged 3% today.

However, AGIX did not have much of an impact at that time, but now the situation has turned upside down. AGIX’s price has been struggling since July 5 and has declined 15% over the week. More importantly, it is not a continuous downtrend but a sudden collapse in the value. The same was true with the OCEAN price charts, where the price has declined 13%, but in the last 24 hours, it has witnessed a slight surge. At the time of writing, the OCEAN price is $0.5233 after a 3% surge in the last 24 hours.

The impact was not only the price but their network activities as well. All these tokens including FET witnessed a drop in their volumes with the decline in the investor’s weighted sentiments. Moreover, the critics have increased over time than the praisers as these tokens struggle with their value in the market.

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