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AI Tokens Fetch.AI, AGIX, OCEAN Talk Merger, Surge Double Digits

The three leading artificial intelligence blockchain projects —Fetch.AI (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN)—are on the verge of a potential merger into a new token named Artificial Superintelligence (ASI), with the collective aim of establishing a decentralized AI behemoth. This initiative seeks to position them as formidable contenders against established tech giants such as OpenAI, Google, Microsoft, and Apple, by leveraging the intrinsic benefits of blockchain technology for AI development.

Fetch.AI + AGIX + OCEAN = ASI

This breaking news was positively received by the market. In the last 24 hours, Fetch.AI has seen a 12% increase, SingularityNET a 10% rise, and Ocean Protocol a significant 23% surge in their values, underscoring the market’s enthusiastic reception to the merger talks.

This proposed consolidation, first reported by Bloomberg, aims to amalgamate the three tokens into an ASI token, which is projected to have a fully diluted value of approximately $7.5 billion. The merger’s completion is subject to approval from the community members of each participating platform.

Despite the ongoing negotiations, representatives from SingularityNET, Fetch.ai, and Ocean Protocol have maintained a neutral stance, opting not to comment on the matter. According to sources who wished to remain anonymous due to the private nature of the information, the announcement of the deal could come as early as Wednesday, contingent upon the consent of the community members of each involved project.

Central to this collaboration is the establishment of the Superintelligence Collective, which would oversee the merged entity’s strategic direction. Ben Goertzel, the visionary founder and CEO of SingularityNET, is set to lead this initiative, with Fetch.ai CEO Humayun Sheikh, notable for his early investment in DeepMind (later acquired by Google), poised to serve as chairman.

This leadership structure is designed to synergize the distinct technological and philosophical approaches of each platform, fostering an environment where decentralized AI can thrive away from the conventional corporate model dominated by shareholder interests.

The backdrop of this bold move is the escalating investment by heavyweight tech corporations in AI technologies, signaling a broad industry consensus on AI’s transformative potential. The burgeoning interest in AI from these corporations has sparked a parallel movement within the crypto sector, where projects like SingularityNET, Fetch.ai, and Ocean Protocol are pioneering the development of decentralized AI solutions.

These solutions aim to democratize AI advancements, ensuring that the benefits of AI technologies are accessible to a wider audience and not just a consortium of tech oligarchs.

The largest of all three AI crypto projects by market cap, Fetch.AI (FET) is continuing its price discovery mode after breaking its all-time high in mid-February. At press time, FET traded at $3.24.

Fetch.AI price

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Ocean Protocol (OCEAN) Breaks Out With Bullish Bias, Will $0.25 Play Out?

  • OCEAN’s price shows strength as it bounces from a downtrend range price rallied to a high of $0.18 with eyes set on $0.25. 
  • OCEAN could rally more as the price creates more bullish bias breaking out of its descending triangle with good volume as the price could rally to $0.25. 
  • OCEAN’s price remains strong on the daily timeframe above the 50 Exponential Moving Average (EMA) as the price aims for more rallies.

Ocean Protocol (OCEAN) has had a tough time this year as the price has maintained a downtrend, but the price of OCEAN could be set for a change as Ocean Protocol breaks out of its daily descending triangle with good volume. The past few days have seen the crypto market has looked more decent, with the likes of Bitcoin (BTC) and Ethereum (ETH) showing some great price movement in recent times. OCEAN’s price rallied from $0.15 to a region of $0.184 as the price aims to take the market by its horn. (Data from Binance)

Ocean Protocol (OCEAN) Price Analysis On The Weekly Chart.

In recent times, Ocean Protocol (OCEAN) has struggled to regain its bullish momentum as the price has had a more quiet time ranging in a weekly low of $0.15; despite the uncertainty that has befallen the crypto space, the price of OCEAN held its ground as price defended its key support area of $0.15. 

OCEAN’s price had yet to replicate its rally that took the price of OCEAN to an all-time high of $2 before it faced rejection to trend higher.

After trading in a range for weeks as the price continued to look difficult to trade due to little to no volume to push the price higher as the price continued to look stagnated, the price of OCEAN finally showed some movement, with the crypto market looking more encouraging in recent times.

Weekly resistance for the price of OCEAN – $0.25.

Weekly support for the price of OCEAN – $0.15.

Price Analysis Of OCEAN On The Daily (1D) Chart

Daily OCEAN Price Chart | Source: OCEANUSDT On Tradingview.com

In the daily timeframe, the price of OCEAN continues to show a more bullish scenario as the price rallied to a high of $0.185 after breaking out its descending triangle with good volume. However, the price of OCEAN could face resistance to the trend to a region of $0.3. 

The price of OCEAN needs to break and hold above $0.185 for the price to trend higher to a region of $0.25, which is a key supply zone for most traders. 

The Fibonacci retracement (Fib) value of 38.2% indicates OCEAN’s price faced a rejection to trend higher as the price tried to break above this key value. The price of $0.184 corresponds to the Fib value of 38.2%. If the price of OCEAN closes above this level, we could see a rally to $0.25.

Daily resistance for the OCEAN price – $0.25.

Daily support for the OCEAN price – $0.16

Featured Image From zipmex, Charts From Tradingview

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Ocean Protocol Could Be Up For A Mega Run; Here Is Why

  • OCEAN’s price shows the market a glimpse of bullish hope as price broke out of its long-range movement with strong volume.
  • OCEAN trades above key resistance as price breaks out of range holding above 8 and 20-day EMA.
  • The price of OCEAN eyes a rally to $0.1 as key resistance was flipped into support with more buy orders. 

The price of Ocean Protocol (OCEAN) has continued to show its strength as price trends with key breakouts from a downtrend range against tether (USDT). With the crypto market cap bouncing from its weekly low as the market continued to look promising, the price of Ocean Protocol (OCEAN) was not left out as the price broke out of its long daily range, with the price trending to a higher height. (Data from Binance)

Ocean Protocol (OCEAN) Price Analysis On The Weekly Chart

The crypto market received relief, as most crypto altcoins expected. However, despite the recent price surge in most crypto assets, some altcoins have remained range-bound.

As the price of OCEAN could not break out with real volume in previous months, it was stocked in a range-like box. OCEAN’s price continued to move between $0.16 and $0.15 before breaking out and trending higher.

After a long-term movement, and with the month looking good for most altcoins, as many refer to it as the month of Uptober, the price of OCEAN could be set for a break out as the price aims to rally to the $0.2 region.

OCEAN’s use case has attracted a lot of traders, investors, and huge organizations, which could also be a huge catalyst to influence the price of OCEAN shortly as many tips the price to rally to a high of $5. 

Weekly resistance for the price of OCEAN – $0.2.

Weekly support for the price of OCEAN – $0.15.

Price Analysis Of OCEAN On The Daily (1D) Chart
Daily OCEAN Price Chart | Source: OCEANUSDT On Tradingview.com

On the daily timeframe, the price of OCEAN continues to show strength as it pulls some gains despite the market appearing to have stalled in price movement; after hitting a daily low of $0.15, the price of OCEAN rallied to a high of $0.19 before being rejected into a descending triangle as it struggled to break out.

The price of OCEAN is attempting to break out of this descending triangle; if successful, OCEAN could rally aggressively as bulls would be ready to send the price to $0.2-0.3, gaining significant price control.

OCEAN trades at $0.16, with the price looking to break this range to the upside; a break out would bring more relief for OCEAN price as it has seen more downside than upside in the past few weeks.

The Relative Strength Index (RSI) for OCEAN shows increasing buy orders as the value is above the 50 mark area daily.

Daily resistance for the OCEAN price – $0.2-$0.3.

Daily support for the OCEAN price – $0.15.

Featured Image From Zipmex, Charts From Tradingview