Altcoins
AI Altcoins Rally as Nvidia Stock Gains Bullish Momentum
Recover.ai (FETs), SingularityNET (AGIX) and the Ocean Protocol (OCEAN) have seen impressive gains as Nvidia’s stock price rises.
FET is up 35% in the last 24 hours and is trading at $1.71 at the time of writing. The asset’s market capitalization currently stands at $1.43 billion, making it the 61st largest cryptocurrency. Fetch.ai’s daily trading volume has doubled over the past day, reaching almost $400 million.
FET, AGIX and OCEAN rates – June 20 | Source: Santiment
AGIX recorded a fairly similar execution. The AI token has gained 29% in the last 24 hours and is trading at $0.68 at the time of reporting. Its market capitalization is close to the $900 million mark with a daily trading volume of $176 million.
The third partner of the Superintelligence Alliance (ASI) token, OCEAN, also saw a 27% rise over the past day and is currently trading at $0.68. The asset’s market capitalization stands at $390 million at the time of writing. OCEAN’s 24-hour trading volume increased by 180%, reaching $80 million.
In April, the Artificial Superintelligence Alliance announced that FETs, AGIX and OCEAN would be merged into a single token. June 3, SingularityNET sharing the following conversion rates from tokens to ASI:
- FET will be converted to ASI at a conversion rate of 1:1.
- AGIX will be converted to ASI at a conversion rate of 1:0.433350.
- OCEAN will be converted to ASI at a conversion rate of 1:0.433226.
AI token surge comes as Nvidia stock checked in up 3.51% on Wednesday — closing the day with a price of $135.58.
Importantly, the California-based graphics processor maker is considered one of the “Three Horsemen of AI” by MarketWatch. Notably, Nvidia has developed an enterprise-level AI platform.