AI tokens FET, AGIX, OCEAN, and ARKM surge despite market sell-off
A number of artificial intelligence (AI)-related crypto assets have shown an impressive performance despite Monday’s market sell-off. These include Fetch.ai (FET), Ocean Protocol (OCEAN), SingularityNET (AGIX), and Arkham (ARKM).
According to data from CoinGecko, FET has seen a 20% increase over the past 24 hours, with its current price at $1.69.
Source: CoinGecko
OCEAN has also shown a positive trend with a 24-hour increase of 15%, and its current price is $0.68. Meanwhile, AGIX has been up around 15.5% in the last 24 hours, currently trading at around $0.68.
The recent price surge follows news from the Artificial Superintelligence Alliance, including SingularityNET, Fetch.ai, and Ocean Protocol, that it will initiate the ASI token merger on July 1 . Earlier this month, the alliance said it would postpone the merger to July 15 .
Another mainstream AI token, ARKM, the native token of the Arkham platform, an AI-driven blockchain analytics platform, has also experienced a 16% surge over the past 24 hours. Currently, ARKM is trading at around $2.
The surge in AI tokens comes amid a market correction early Monday after the defunct crypto exchange Mt. Gox announced plans to repay its creditors $9 billion in July.
In the past, news surrounding Mt. Gox triggered a market sell-off. For instance, last month, Bitcoin’s price experienced a minor dip, dropping from $70,000 to $68,500 after Arkham’s data showed that a wallet associated with Mt. Gox started transferring over 140,000 BTC , worth roughly $9 billion to a new wallet, a move considered a preparatory step for creditor repayments.
Bitcoin’s price dropped below $59,000 after the latest announcement. At press time, BTC had recovered to over $61,000, but it was still down over 2% in the past 24 hours. The flagship crypto asset has been down almost 11% this month.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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