The AI token price increased significantly in the context of the market facing many challenges including sell-offs and negative rumors.
While the cryptocurrency market is in a sell-off, especially Bitcoin, artificial intelligence (AI)-related assets have shown impressive performance. In this, the tokens included Fetch.ai (FET), Ocean Protocol (OCEAN), SingularityNET (AGIX) and Arkham (ARKM) is leading the uptrend.
#WHO tokens are rising despite $NVDA falling over 13%. 🚀
Which AI tokens are you looking at?https://t.co/EKecwSXLYo pic.twitter.com/qIVvnNvBd9
— CoinGecko (@coingecko) June 25, 2024
According to data from CoinGecko, FET increased 16.6% in the last 24 hours, with a current price of $1.65. Following that, OCEAN also shows a positive trend with the level increased by 15.2% for 24 hours and the current price is $0.6921.
That’s third place AGIX has increased about 14.9% over the past 24 hours, currently trading at around $0.6909.
This price increase was fueled by new news from Alliance of Super Artificial Intelligence, including SingularityNET, Fetch.ai and Ocean Protocol.
The group was planning to merge together into a new token called ASI on July 1. However, the alliance re-announced that they would postpone the merger until July 15.
In addition to the above trio of alliances, another AI token is named ARKM, The native token of the Arkham platform, also increased by 12.8% over the past 24 hours and is currently trading at around $2.
The rise of the AI token comes amid a market downturn on Monday morning after Exchange Mt. Gox announced plans to repay Bitcoin and Bitcoin Cash to creditors in July.
Previously, news surrounding Mt. Gox caused a market sell-off. For example, last month, the price of Bitcoin dropped from $70,000 to $68,500 after a wallet linked to Mt. Gox has begun transferring more than 140,000 BTC, worth about $9 billion, to a new wallet, a move seen as preparation for repayment.
Bitcoin price fell below $59,000 following this announcement. However, at the time of writing BTC Recovered to Over $61,874, increased more than 1.8% in the past 24 hours.
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