AIrelated cryptocurrencies surge as Nvidia shares gather bullish momentum
Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) have seen significant increases in value amidst a rise in Nvidia’s stock price.
FET has surged by 35% in the last 24 hours, currently trading at $1.71. The cryptocurrency boasts a market cap of $1.43 billion, positioning it as the 61st-largest in the market. Fetch.ai’s trading volume has doubled over the same period, nearing $400 million.
AGIX experienced a similar upswing, gaining 29% to reach $0.68 at the time of reporting. Its market cap approaches $900 million, with a daily trading volume of $176 million.
OCEAN also saw a notable increase, climbing 27% to trade at $0.68. The cryptocurrency holds a market cap of $390 million, accompanied by a 180% surge in trading volume, which reached $80 million within 24 hours.
Earlier in April, the Artificial Superintelligence Alliance announced plans to merge FET, AGIX, and OCEAN into a unified token. SingularityNET disclosed conversion rates to ASI tokens on June 3: FET at 1:1, AGIX at 1:0.433350, and OCEAN at 1:0.433226.
These gains coincide with Nvidia’s stock rise of 3.51% on Wednesday, closing at $135.58. Nvidia, recognized as one of the “three horsemen of AI” by MarketWatch, continues to advance its enterprise-level AI platform.
For further insights, Circle CEO Jeremy Allaire expresses strong optimism about the future of cryptocurrencies.
