July 18, 2024
1 Solar System Way, Planet Earth, USA
Crypto

AI Tokens FET, AGIX, OCEAN, and ARKM Surge Despite Market Selloff

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Several artificial intelligence (AI)-related crypto assets have shown 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 in the last 24 hours, with its current price at $1.69.

Fountain: CoinGecko

OCEAN has also shown a positive trend with a 15% increase in 24 hours and its current price is $0.68. Meanwhile, AGIX is up around 15.5% in the last 24 hours and is currently trading at around $0.68.

The recent price increase follows news from the Artificial Superintelligence Alliance, including SingularityNET, Fetch.ai and Ocean Protocol, that start ASI token merger on July 1. Earlier this month, the alliance said that postpone the merger until July 15.

Another mainstream AI token, ARKM, the native token of the Arkham platform, an AI-powered blockchain analytics platform, has also seen a 16% rise in the last 24 hours. Currently, ARKM is trading at around $2.

The rise in AI tokens comes amid a market correction early Monday after the defunct crypto exchange Mt. Gox announced. plans to pay his creditors 9 billion dollars in July.

In the past, news about Mt. Gox caused a sell-off in the market. For example, last month, the price of Bitcoin saw a minor drop, falling from $70,000 to $68,500 after data from Arkham showed that a wallet associated with Mt. Gox went live. transferring more than 140,000 BTCworth about $9 billion for a new wallet, a move seen as a preparatory step for creditor payments.

Bitcoin price fell below $59,000 after the latest announcement. At press time, BTC had recovered to over $61,000, but was still down more than 2% in the past 24 hours. The flagship crypto asset is down almost 11% this month.

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