ASI’s Token Merger Causes Market Uncertainty, Long-Term AI Tech Advancement Expected

Share on Facebook Share on Twitter

The Bottom Line

The Artificial Superintelligence Alliance (ASI) has announced the start of their two-phase token merger involving FET, AGIX, and OCEAN. This news has led to uncertainties in the market, causing a significant drop in token values. Despite the progress and developments, there are concerns about the participation of some major platforms, particularly Coinbase, and potential long-term impacts on the involved tokens.

Details on the ASI Token Merger

ASI has announced the start of the first phase of their token merger, where AGIX and OCEAN are to be integrated into FET. SingularityNET, Fetch.ai, and Ocean Protocol have teamed up to create a new cryptocurrency, the ASI Coin. This development aims to consolidate forces in the field of artificial intelligence within the crypto world. Major crypto exchanges such as KuCoin, Binance, Bitget, and Bitfinex have announced their support for the new currency.

Market Reaction and Price Development

Despite the positive outlook on the long-term possibilities that the merger could bring, the market has reacted negatively in the short term. FET, AGIX, and OCEAN have all experienced a significant drop in their value. FET recorded a drop of 9.54% within 24 hours and 20.7% within seven days. AGIX and OCEAN showed similar declines. Market analysis suggests increased selling pressure and negative market sentiment.

Causes and Effects

The uncertainty and hesitation of some major players like Coinbase to participate in the merger has led to general insecurity. In addition, fear of possible technical problems during the transition phase and concern about regulatory interventions could further affect market sentiment. However, in the long run, the benefits of stronger consolidation in the AI crypto sector could outweigh the initial challenges.

Our Assessment

While the short-term effects of the ASI token merger on FET, AGIX, and OCEAN are undeniably negative, it’s important to focus on the long-term potential. The creation of a unified AI-Crypto token could accelerate the development and application of AI technologies in the crypto space. Investors should, however, be cautious and closely monitor developments, especially regarding the participation of major platforms and potential technical challenges during the transition phase.

Sources

– TradingView
– Coinglass
– Santiment

Share on Facebook Share on Twitter

The 3 best crypto casinos

100% without limit + 100 Free Spins
Welcome bonus
Cryptocurrencies (21)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Bonk Coin Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Pepe Coin Logo
  • Pepe Coin Logo
  • Polygon (MATIC) Signet
  • Ripple XRP Logo
  • Logo des Tamadoge Coins
  • Tether (USDT) Logo
  • Toncoin Logo
  • tron-logo
  • usd-coin-logo
CoinKings review
Bonus Information CoinKings
Wagering requirements 35x bonus
35x free spins winnings
Minimum deposit €20
Maximum bet €5
Bonus validity 14 days for deposit bonus
7 days for free spins
  • There is no maximum bonus amount.
  • 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
How did we rate this casino

In addition to an unlimited bonus, Coinkings.io has a lot to offer. We have a high tolerance for VPNs, an impeccable selection of cryptocurrencies and, above all, an experienced team that immediately provided a wide range of games. In combination, all of this is very convincing.

Author & Responsibility: Gregor Ziegler
Last update by Abby Richards on 15. July 2024
Anjuan Gaming
Anjouan
Licence
Curaçao License
Curaçao
Licence
Up to 1 BTC + 100 Free Spins
Welcome bonus
BETSFTD
Cryptocurrencies (27)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Bonk Coin Logo
  • Chainlink_Logo
  • dai-logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Polygon (MATIC) Signet
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • Toncoin Logo
  • tron-logo
  • usd-coin-logo
  • Zcash Signet (black)
Bets.io review
Bonus Information Bets.io
Wagering requirements 40x deposit + bonus
40x free spins winnings
Minimum deposit 0.00034 BTC or equivalent
Maximum bet 0.00003 BTC or equivalent
Bonus validity 30 days to claim
14 days to wager
  • Minimum deposit: 0.048 BCH • 0.0068 ETH • 0.26 LTC • 154 DOGE • 20 USDT • 40 XRP • 180 TRX • 48 ADA • 0.04 BNB • 20 BUSD • 20 USDC.
  • Maximum bet per round: 0.005 BCH • 0.0007 ETH • 0.03 LTC • 15 DOGE • 2 USDT • 4 XRP • 19 TRX • 4.8 ADA • 0.004 BNB • 2 BUSD • 2 USDC.
  • Free spins are credited on “Max Miner” by Gamebeat, 20/25 free spins per a day.
How did we rate this casino

Bets.io is our number 1 among crypto casinos because they have kept everything great about Dama Casinos, such as their excellent game selection and well-known reliability, while eliminating the frustrating KYC processes and traditional payment methods that can hinder the full crypto casino experience.

Author & Responsibility: Steven Harper
Last update by Isabella Brown on 19. June 2024
Anjuan Gaming
Anjouan
Licence
100% up to 1 BTC
Welcome bonus
Cryptocurrencies (9)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
Metaspins review
Bonus Information Metaspins
Wagering requirements 40x bonus
Minimum deposit 0,1 mBTC
Maximum bet $5 per spin
Bonus validity 7 days to wager
  • There is no cap on winnings or withdrawals.
How did we rate this casino

Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.

Isabella Brown
Author & Responsibility: Isabella Brown
Last update by Michael Schmitz on 14. June 2024
Curaçao License
Curaçao
Licence

Latest News

Created by

Before joining Kryptocasinos.com I've worked with some of the biggest brands in the iGaming industry. I currently lead the North American initiatives at KC, overseeing our reviews process for the US and Canada. In my leisure moments, you'll discover me immersed in the creation of avant-garde fractal art or engaging in culinary experiments as I invent new dishes.

Last update: 2. July 2024

kryptocasinos.com Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

🍪
We use cookies. By using this site, you accept them.

Compare Casinos Choose up to 3 casinos to compare