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The Story Behind the ASI Token
How will the ASI token merger impact the AI and cryptocurrency markets, and what can investors expect from this alliance?
At the end of March, three prominent names in the AI and cryptocurrency industry — Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) — has made a huge announcement: They are pooling their tokens to create a new, super-powerful AI token called Artificial Superintelligence (ASI).
However, this is not simply a direct exchange. Each token has a different value, so they will convert at variable rates.
According to announcement1 FET will be exchanged for 1 ASI, while 1 AGIX will be converted into 0.433350 ASI and 1 OCEAN into 0.433226 ASI. After the merger, there will be a total of 2.63055 billion ASI tokens.
This merger will occur in two phases. Phase 1 start on July 1st, focusing on consolidating SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens into Fetch.ai’s FET tokens. Phase 2, starting in mid-July, will engage the community and introduce the new ASI tokens. In the meantime, FET trading remains active as the rebranding takes place on various platforms.
Now, let’s explore what this merger means for the cryptocurrency market and what we can expect in the future.
What does the merger consist of?
First, let’s understand who the main players in this merger are.
SingularityNET is the world’s first decentralized artificial intelligence (AI) network, enabling anyone to create, share, and monetize AI technologies at scale.
Fetch.ai is a web3 platform that uses artificial intelligence to build a new economy by enabling autonomous agents to perform useful economic activities.
Finally, Ocean Protocol is a decentralized data exchange platform designed to safeguard data privacy and security.
Together, these companies conceive creating a robust platform that leverages their individual strengths to advance a decentralized AI future. The goal of this merger is to advance towards Artificial General Intelligence (AGI) and, ultimately, Artificial Superintelligence (ASI).
AGI refers to AI systems that can perform any human task with at least the same level of proficiency as a human. ASI goes further, referring to AI systems that surpass human capabilities in every way.
The concept of AGI has been around for decades, with major references in the mid-20th century by visionaries such as Norbert Wiener and, later, Ray Kurzweil.
Kurzweil’s 2005 book, “The Singularity is Near,” popularized the idea that human-level AGI could emerge around 2029 and predicted the transition to ASI by 2045.
Today, rapid advances in AI technologies, such as ChatGPT and other Large Language Models (LLMs), suggest that Kurzweil’s predictions may be accurate. These systems have demonstrated remarkable capabilities, sparking the imagination of both experts and the public about the potential of AI.
While we are not yet at the level of AGI, these advances indicate that human-level AGI may not be far away. Kurzweil’s timeline predicted a 16-year gap between AGI in 2029 and ASI in 2045, but many now speculate that this could happen even sooner.
Meanwhile, the dominance of AI development by large US tech companies has shaped the current technological landscape, favoring techniques that use massive amounts of data processed by centralized server farms.
This centralized approach, while powerful, may not be the best path to developing AGI and ASI. Decentralized AI, on the other hand, promises a more democratic, open, and inclusive approach to AI development.
The primary purpose of the merger is to ensure that the development of ASI remains under popular control, open to diverse insights and contributions from across global society. This is critical because the development of ASI will present unprecedented challenges that require collective human wisdom and capacity.
By merging their tokenomic networks, SingularityNET, Fetch.ai, and Ocean Protocol aim to expand their efforts in decentralized AI, providing greater incentives and resources to compete with centralized AI giants.
The current state of mergers and migrations
The current state of the merger between SingularityNET, Fetch.ai, and Ocean Protocol reflects both progress and challenges.
Despite the coordination, not all cryptocurrency exchanges supported the merger for their users. In particular, Monetary baseone of the major cryptocurrency exchanges, has chosen not to automatically convert users’ tokens into ASI.
In a statement on their Coinbase Assets X account, they announced: “Ocean and Fetch.ai have announced a merger to form the Artificial Superintelligence Alliance. Coinbase will not migrate these assets on behalf of users.”
Ocean (OCEAN) and Italian: https://t.co/pOEE8X2oY0 (FET) have announced a merger to form the Artificial Superintelligence Alliance (ASI). Coinbase will not migrate these assets on behalf of users.
— Coinbase Assets 🛡️ (@CoinbaseAssets) June 26, 2024
This decision means that Coinbase users holding OCEAN and FET tokens will have to take additional steps to participate in the merger.
To address this issue, Coinbase has provided a workaround for their users. They stated that once the migration is launched, users can migrate their OCEAN and FET tokens to ASI using a self-custodial wallet like Coinbase Wallet.
The ASI token merger is designed to be compatible with all major software wallets, allowing users to manage token migration independently.
Coinbase also assured its users that they will be able to continue trading FET and OCEAN tokens as usual until further notice, although it will not directly facilitate the migration process.
As of July 8, the migration process is ongoing, with OCEAN and AGIX tokens still trading on some exchanges. These tokens continue to attract trading volumes in USD and USDT pairs, although the volumes are not particularly high.
Exchanges such as Coinbase, Kraken, and Bybit continue to facilitate trading involving OCEAN and AGIX tokens, reflecting a transition phase where not all tokens have been fully integrated into ASI.
The road ahead
The entire market is currently gripped by fear, mainly due to two critical events.
First of all, the long-awaited refunds since the Mt. Gox incident are creating uncertainty. For those who don’t know, Mt. Gox was one of the largest Bitcoin exchanges until it collapsed in 2014 after losing 850,000 BTC.
The refund processes to creditors has been ongoing for years and the finalization of these Bitcoins on the market is causing apprehension.
Secondly, the German government was continuously selling his Bitcoin, which contributed to the cautious market sentiment.
This uncertainty has spilled over into the crypto-AI sector, which has been one of the fastest-growing sectors this year, posting exponential gains during the bull run.
However, the trend has changed. Since July 8, the price of the soon-to-be-converted-to-ASI Fetch.ai token (FET) has seen sharp declines. From a high of $3.47 in March 2024, FET has plummeted to $1.19, marking a 65% decline.
Given this backdrop, it is wise to proceed with caution. Avoid making impulsive decisions based on fear or hype. Assess your risk tolerance and only invest what you can afford to lose.
Disclosure: This article does not constitute investment advice. The content and materials on this page are for educational purposes only.
As the cryptocurrency market continues to expand, investors are constantly looking for new opportunities to maximize their returns. Pepe (PEPE), a meme coin inspired by the iconic Internet character Pepe the Frog, has been a staple in the meme coin arena. However, recent developments have shifted some investors’ attention to a promising new competitor: MPEPE (MPEPE). Currently trading at $0.0007, Mpeppe is attracting significant interest from those looking to diversify and capitalize on the next big thing.
Pepe’s appeal (PEPE)
Pepecoin (PEPE) has carved out a significant niche for itself in the cryptocurrency market, largely due to its vibrant community and roots in internet meme culture. Drawing inspiration from the popular meme character Pepe the Frog, Pepe (PEPE) has captured the attention of cryptocurrency enthusiasts and meme enthusiasts alike. This fusion of humor and community spirit has been instrumental in its rise within the cryptocurrency space.
The continued success of Pepecoin (PEPE) can be attributed to its active and dedicated community. Holders of the coin are known for their enthusiastic promotion on social media platforms, which helps maintain its visibility and popularity. This strong community support has been instrumental in sustaining Pepe (PEPE)’s momentum and driving its market performance. Recent whale activity, such as a massive transfer of 9 trillion PEPE tokens valued at $82 million to Bybit, further highlights the coin’s potential for significant price movements driven by large-scale transactions.
Mpeppe (MPEPE): the rising star
Mpeppe (MPEPE) differentiates itself by merging the realms of sports and cryptocurrency. Drawing inspiration from soccer sensation Kylian Mbappé and leveraging the legacy of the Pepe (PEPE) meme coin, Mpeppe offers a unique appeal that resonates with both sports fans and cryptocurrency investors. This innovative fusion is attracting a diverse and engaged audience, fostering a vibrant community around the token.
A large ecosystem
Differentiating itself from typical meme coins, Mpeppe (MPEPE) features a robust ecosystem that includes gaming and sports betting platforms, NFT collectibles, and social interaction features. These utilities provide real value to users, creating multiple channels for engagement and investment. This comprehensive approach positions Mpeppe as more than just a meme coin, offering a richer and more engaging experience for its users.
Investment Potential of Mpeppe (MPEPE)
Strategic Tokenomics
Mpeppe (MPEPE) has been strategically priced at $0.0007, making it accessible to a wide range of investors. Tokenomics is designed to support long-term growth, with allocations for presales, liquidity, and sports activities. This strategic distribution ensures stability and promotes community engagement, positioning Mpeppe for substantial growth.
Analysts’ optimism
Market analysts are optimistic about the potential of Mpeppe (MPEPE). The coin’s innovative approach, strong community, and strategic partnerships are expected to drive significant price increases. Early investors stand to benefit from substantial returns as Mpeppe gains traction in the market. Analysts note that Mpeppe’s combination of utility and community engagement positions it well for future growth, especially as the cryptocurrency market continues to evolve.
The impact of similar competing businesses
Driving Innovation
Competition between similar assets such as Pepe (PEPE) and Mpeppe (MPEPE) is a catalyst for innovation. Each project strives to outdo the other, resulting in continuous improvements and new features. This dynamic competition benefits investors, offering them better and more advanced products.
Market diversification
Having multiple competing assets in the market promotes diversification. Investors have more options to choose from, which can help spread risk and potentially increase returns. The presence of strong contenders like Pepe (PEPE) and Mpeppe (MPEPE) ensures a vibrant and resilient crypto ecosystem.
Increased market interest
Competition between similar assets also generates increased market interest. As projects compete for attention, they attract more investors and media coverage, leading to increased visibility and adoption. This increased interest can drive further investment and growth in the sector.
The Future of Mpeppe (MPEPE)
Strategic development
Mpeppe (MPEPE) has a clear and ambitious roadmap for the future. Development plans include expanding its gaming and sports betting platforms, launching new NFT collections, and forming strategic partnerships. These initiatives are designed to improve user experience and drive market growth.
Community Growth
The success of Mpeppe (MPEPE) will largely depend on its ability to build and sustain a strong community. By focusing on engagement and providing valuable utility, Mpeppe aims to foster a loyal and active user base. This community-driven approach is expected to play a significant role in its long-term success.
Conclusion: A New Horizon for Meme Coin Investors
In conclusion, while Pepe (PEPE) has established itself as a significant player in the meme coin market, Mpeppe (MPEPE) offers a fresh and innovative approach that is capturing the interest of investors. With its strategic pricing, comprehensive ecosystem, and potential for high returns, Mpeppe (MPEPE) represents an exciting opportunity for those looking to diversify their cryptocurrency portfolios. As always, investors should stay informed and consider multiple factors before making investment decisions. Embrace the potential of Mpeppe (MPEPE) and join the journey to new rewards in the cryptocurrency world.
For more information on the pre-sale of Mpeppe (MPEPE):
Visit Mpeppe (MPEPE)
Join and become a member of the community:
Italian: https://t.me/mpeppecoin
Italian: https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ
- The Golem project has moved over $124 million in ETH for staking.
- Ethereum staking frenzy has increased ahead of the launch of spot ETH ETFs in the US.
Ethereal [ETH]The Project Golem-based distributed computing marketplace has joined the ETH staking frenzy.
On July 11, contrary to its recent sell-off, the company reportedly staked 40K ETH worth over $124.6 million, according to Lookonchain data.
Golem Network has confirmed its Ethereum staking initiative and said its purpose was to “create space” to help participants contribute to the network.
“The Golem Ecosystem Fund is officially launched today! We have staked 40,000 ETH from Golem’s treasury. This will create a space where developers, researchers, and entrepreneurs can bring their ideas to life and contribute to the Golem Network and its ecosystem!”
Ethereum Staking Frenzy
The staking frenzy has infected Ethereum, with just days to go until the potential launch of a spot ETH ETF in the United States. Recently, an unmarked address blocked over 6K ETH.
The Golem project’s decision to lock up 40K ETH on July 11th pushed the total ETH locked up to Chain of lights at an all-time high of 47.5 million ETH, worth over $140 billion based on market prices at press time.
Beacon Chain is Ethereum’s system that manages the validation of new blocks.
Source: Etherscan
According to a recent AMBCrypto relationshipIncreased ETH staking ahead of the debut of the ETH spot ETF in the US has underscored bullish sentiment.
More ETH has been moved from exchanges, further strengthening bullish expectations.
Meanwhile, from a short-term perspective, many addresses were losing at the $3.2K and $3.5K levels. Investors could try to take a profit if they break even.
These prices represent key levels to watch in the short term.
Source: IntoTheBlock
Next: Why Bitcoin Must Surpass $61K Soon, According to Analysts
As the cryptocurrency space turns bearish, giants like Chainlink and Fantom are facing setbacks with declining trends for LINK and FTM. Amid these changes, BlockDAG emerges as a prime target due to its promising pre-sales and long-term prospects. This Layer-1 project boasts an innovative Low Code No Code ecosystem, attracting investors with potential ROIs exceeding 30,000x. The pre-sales momentum has already accumulated over $57.6 million, driven by growing investor enthusiasm.
Impact of Chainlink’s Recent Token Release
Chainlink’s recent move to release 21 million LINK tokens, worth approximately $295 million, from its dormant supply contracts has significant market implications. This release sent 18.25 million LINK to Binance, fueling speculation that the price will drop. LINK is currently trading at $13.64, approaching its critical support at $13.5, with the potential to drop to $10 if this level breaks.
These releases, increasing the circulating supply above 600 million LINK, have previously maintained price stability, but the prevailing bearish conditions could alter this trend. With 391.5 million LINK pending release, market caution persists.
Fantom (FTM) Market Position Dynamics
Fantom experienced a strong buying spree last November, but its valuation has been challenging lately. After peaking near $1.20 in March, subsequent resistance and profit-taking pushed its price lower. FTM recently dipped below the crucial $0.600 mark but found some ground around $0.500. Fantom is currently valued at $0.559 with a market cap of $1.67 billion and daily trading volume of $257.56 million.
The Fantom Foundation’s decision to award over 55,000 FTMs quarterly to major dApps on the Opera network has invigorated user participation. Indicators such as RSI and MACD suggest a possible bounce if it surpasses the $0.600 mark. Failure to break above the 200-day EMA could prolong the bearish outlook.
BlockDAG Pre-Sale Triumph and Innovative Platform
BlockDAG’s pioneering low-code/no-code platform enables the seamless creation of utility tokens, meme tokens, and NFTs, catering to a broad user base. Its intuitive templates allow enthusiasts to quickly launch and customize projects, thereby democratizing blockchain development and accelerating market entry.
The cutting-edge features of this platform have attracted cryptocurrency investors, significantly increasing the interest in the presale. BlockDAG has successfully raised over $57.6 million, witnessing a 1300% escalation in the coin’s value from $0.001 to $0.014 in its 19th batch. This impressive rise underscores the immense return potential of BlockDAG for early backers.
Additionally, BlockDAG’s commitment to expanding its ecosystem extends to supporting the development of decentralized apps. This fosters a wide range of new projects in the blockchain domain, from digital art platforms to tokenized assets, enriching the blockchain ecosystem.
Key observations
While Chainlink and Fantom are currently navigating bearish trends due to token releases and resistance hurdles, BlockDAG’s innovative low-code/no-code framework positions it as an attractive investment option. With a presale raise of over $57.6 million and prices skyrocketing 1300% in recent batches, BlockDAG shows tremendous potential for returns of up to 30,000x. Amidst the market volatility impacting Chainlink Tokens and Fantom, BlockDAG stands out as a promising avenue for cryptocurrency traders.
Sign up for BlockDAG Pre-Sale now:
Website: https://blockdag.network
Pre-sale: https://acquisto.blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: Italian: https://discord.gg/Q7BxghMVyu
Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the reliability, quality and accuracy of any material in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Do your own research and invest at your own risk.
The DEX aggregator Anger Trading is about to issue its RAGE token on the new Layer 1 blockchain Hyperliquid. The token sale is scheduled for August 7, with 20 million tokens out of a total supply of 100 million available on Fjord Foundry at a fixed price of $0.30.
Additionally, the “Rage Quit” feature has been introduced, which allows private investors to get their allocation early by accepting a 60% cut.
RAGE will be among the first tokens to be launched on Hyperliquidmarking a significant moment for this new blockchain. Let’s see all the details below.
DEX News Rage Trade: New RAGE Token Arrives on Hyperliquid
As expected, decentralized exchange (DEX) aggregator Rage Trade has announced the issuance of its new token ANGER. The launch is happening through a liquidity generation event and token sale on Fjord Foundry, scheduled for August 7th.
The token will be launched on the newly launched layer 1 blockchain Hyperliquidwhich has rapidly gained popularity due to its decentralized perpetual exchange.
Rage Trade currently aggregates platforms such as GMX, Synthetix, Dydx, Aevo and Hyperliquid, allowing traders to manage their positions across multiple blockchains and earn incentives.
During the event, 20 million RAGE tokens will be sold at a fixed price of $0.30, while another nine million will be used to inject liquidity into Hyperliquid.
Additionally, six million tokens have been reserved for future market making and product development incentives.
The token will have a total supply of 100 million, with 20% earmarked for sale and 30% for community treasury. The latter is subject to a 12-month lock-up period and a 24-month linear release.
The “Rage Quit” feature introduces a deflationary mechanismThis allows private investors and recipients of the air launch to receive their assignment after an initial three-month stalemate, accepting a 60% cut.
Rage Trade has chosen Hyperliquid as the platform for its token after the network became the preferred choice of users of the Anger Aggregatorwith over 1,300 users generating $445 million in volume.
Hyperliquid surpasses dYdX in TVL
Hyperliquid, the exchange decentralized based on Referee, recently introduced a new points program, which has catalyzed significant growth in total value locked (TVL) on the platform.
According to data from DefiLlama, Hyperliquid has reached a TVL of $530 million, surpassing dYdX’s $484 million and reaching a new all-time high.
This figure places Hyperliquid in second place among derivatives platforms, just behind GMX, which maintains a TVL of $542 million.
Rounding out the top five platforms by TVL are Solana-based Jupiter with $415 million and Drift with $365 million. Hyperliquid had a stellar year in 2024, jumping from eighth to second place in just six weeks.
This rapid increase was largely attributed to the new Hyperliquid points program, which launched on May 29.
The points program provides for the distribution of 700,000 points weekly for four months. With an additional 2 million points awarded for activity between May 1 and May 28.
Despite community criticism over the decision to extend the incentive program and delay the token launch and airdrop, the platform has continued to attract numerous traders.
From Perpetual DEX to Layer 1
Steven, founding member of Capital Yuntwhich has backed some of the largest cryptocurrency firms, including Zerion, noted that Hyperliquid has distributed approximately 51 million points in four periods.
He further stressed that the project aims to reward its early adopters and move from simply being a perpetual DEX to a true Layer 1:
“The team is clearly making an effort to communicate that Hyperliquid is an L1 and not just a DEX for derivatives.”
Furthermore, he highlighted that the token holders PURSUE were significantly rewarded, with a 23% increase in the token’s value.
PURR was the first spot token launched on Hyperliquid and looks set to continue receiving attention and incentives from the platform.
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