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UseTheBitcoin Market Update (FET & AGIX) | June 27th, 2024

Author

Rickie Sanchez

Tags

Reading time

2 mins
Last update

Author

Rickie Sanchez

Tags

Category

Videos

Reading time

2 mins
Last update

Author

Rickie Sanchez

Tags

Reading time

2 mins
Last update


Let’s examine the insights shared by our Technical Analyst at UseTheBitcoin as he walks us through his personal trading approach and observations on Fetch.ai (FET) and SingularityNET (AGIX).

The article provides an update on the Artificial Superintelligence Alliance and the planned merger of ASI tokens, detailing two phases of the process:

Phase I Overview & Timeline

The Artificial Superintelligence Alliance (ASI) token merger will begin on July 1st, 2024. The first phase will rebrand the project with a new name and logo.

To prepare for the migration, exchanges will close deposits and withdrawals of AGIX and OCEAN tokens. However, trading will continue under the FET ticker symbol.

A platform will also open on the SingularityDAO dApp, allowing AGIX and OCEAN holders to convert their tokens to FET.

Finally, AGIX and OCEAN tokens will be delisted from exchanges.

Phase II Overview

The second phase of the token merger focuses on wider adoption and functionality, and the ASI token will be deployed across multiple blockchains.

Moreover, the existing Fetch.ai network will be upgraded to become the ASI network. To ensure a smooth transition for existing token holders, new migration contracts will be introduced to convert AGIX, OCEAN, and even FET tokens into ASI.

Bridges compatible with the Ethereum Virtual Machine (EVM) and others will be opened to facilitate transfers between these blockchains. Finally, cryptocurrency exchanges will begin migrating their markets from FET to ASI, making the new token easier to trade.

Final Thoughts

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