Benzinga•1 year ago•

AI Cryptos Outperform Bitcoin, Ethereum: Nvidia Effect or ASI Merger?

Crypto

Blockchain

Decentralization

Nvidia

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Summary:

Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) have outperformed Bitcoin and Ethereum in the past week.
The surge is linked to the rally of AI giant NVIDIA Corp. (NVDA), which briefly became the world's most valuable company.
The excitement surrounding these tokens is tied to the upcoming Artificial Superintelligence Alliance (ASI) token merger.
The merger aims to create a decentralized alternative to Big Tech's dominance in AI development.
Despite recent market fluctuations, these AI-related cryptos continue to attract attention due to their potential and the growing interest in the AI space.

Artificial Intelligence (AI)-related cryptocurrencies like Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) have outperformed Bitcoin (BTC) and Ethereum (ETH) over the past week, gaining 8.24%, 8.39%, and 5.21% respectively. This surge seemingly follows the rally of AI giant NVIDIA Corp. (NVDA), which briefly became the world's most valuable company on June 18. However, while Nvidia's stock has since declined, the AI-linked cryptos have continued to rise. The excitement surrounding these tokens is tied to the upcoming Artificial Superintelligence Alliance (ASI) token merger. This merger, beginning July 1, will combine AGIX and OCEAN tokens into FET, with the ultimate goal of creating a decentralized alternative to Big Tech's dominance in AI development. Despite the recent market fluctuations, these AI-related cryptos continue to attract attention due to their potential and the growing interest in the AI space.

Source: benzinga