tl;dr
Three companies in the crypto industry, Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX), plan to merge and form the Artificial Superintelligence Alliance (ASI). The merger aims to create a unified Artificial Intelligence (AI) network with a target market cap of $7.5 billion, positi...
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Fetch.ai, Ocean Protocol, and SingularityNET plan to merge, forming the Artificial Superintelligence Alliance (ASI).
ASI targets a market cap of $7.5 billion, aiming to become a top-20 cryptocurrency.
FET's price consolidates with a bearish outlook, AGIX aims to breach critical resistance, OCEAN's price action remains stagnant.
Three companies in the crypto industry, Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX), plan to merge and form the Artificial Superintelligence Alliance (ASI). The merger aims to create a unified Artificial Intelligence (AI) network with a target market cap of $7.5 billion, positioning it among the top 20 cryptocurrencies. The merger is set to begin on June 11, with token holders having the opportunity to swap their holdings for ASI until June 13. However, the potential for the combined assets to achieve a 2x market cap increase is uncertain.
In terms of price predictions, Fetch.ai's price has been consolidating at around $2.11, with bearish signals for the upcoming week. SingularityNET (AGIX) has observed an uptrend, currently trading at $0.89, aiming to breach the critical resistance of $1.00. Ocean Protocol (OCEAN) has been consolidating between $0.84 and $1.02, with the likelihood of testing the support floor of $0.84. Despite the rise in AI, the slow growth of these three tokens in the current market conditions makes their potential to become a top-20 asset challenging.
Mergers between two companies in the crypto industry are rare. Still, it is even rarer to see three companies come together as Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) plan to. Whether this will turn out to be a spectacular or a disastrous spectacle is yet to be determined.
THE ARTIFICIAL SUPERINTELLIGENCE ALLIANCE (ASI) CLOSER TO COMING TO LIFE
Earlier this week, SingularityNET announced that it would merge with Fetch.ai and Ocean Protocol to form the Artificial Superintelligence Alliance (ASI). The merger will unify the three networks into one Artificial Intelligence (AI) network. Currently, these three tokens are worth around $3.2 billion combined. Following the merger, ASI is targeting a market cap of $7.5 billion, which would place the token among the top 20 cryptocurrencies in the world. The merger is expected to begin on June 11 and be completed by June 13, after which the three tokens cease to exist. Token holders until June 13 will have a chance of swapping their holdings for ASI. However, with a market cap target of 2x the current valuation of these three assets, the question arises if this is a possibility or a simple fantasy.
FET, AGIX, OCEAN PRICE PREDICTION: WHERE THEY ARE AND WHERE THEY COULD LAND
Fetch.ai (FET)
Fetch.ai’s price has been consolidating for the past two months, with every breakout attempt failing so far. FET is changing hands at $2.11, moving within the range of $1.95 and $2.49. The Relative Strength Index (RSI) is in the bearish zone under the neutral line of 50.0. The RSI signals a bearish outcome over the next week, likely keeping FET consolidated.
SingularityNET (AGIX)
AGIX price has been doing well on the macro time frame. The altcoin has observed a consistent uptrend for the past two months, bringing the trading price to $0.89. AGIX is currently sitting under the critical resistance of $1.00. If this barrier is breached, the crypto asset would have a shot at rising further towards rallying beyond $1.07. However, this could take a while, and the anticipated merger date, June 11, is less than a week away.
Ocean Protocol
OCEAN’s price action has not been too impressive, either. The altcoin has been consolidating between $0.84 and $1.02 for a solid eight weeks. OCEAN nearly breached the upper limit once but failed to sustain the rise, returning to the trading price of $0.89. The chances of the altcoin dipping to test the support floor of $0.84 are much higher than a breakout.
Thus,
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