Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) have experienced significant gains following the rise in Nvidia’s stock price.
In the past 24 hours, FET has increased by 35% and is currently trading at $1.71. The cryptocurrency’s market cap is now at $1.43 billion, ranking it as the 61st-largest cryptocurrency. FET’s daily trading volume has doubled in the last day, reaching nearly $400 million.
AGIX has had a similar run, with the AI token gaining 29% in the past 24 hours and trading at $0.68. Its market cap is close to $900 million, and its daily trading volume is $176 million.
OCEAN, the third partner of the Superintelligence Alliance (ASI) token, has also seen a surge of 27% in the past day and is currently trading at $0.68. The asset’s market cap stands at $390 million, and its 24-hour trading volume has increased by 180%, reaching $80 million.
In April, the Artificial Superintelligence Alliance announced the merger of FET, AGIX, and OCEAN into a single token. SingularityNET shared the conversion rates of the tokens to ASI on June 3. FET will be converted to ASI at a rate of 1:1, AGIX at a rate of 1:0.433350, and OCEAN at a rate of 1:0.433226.
The surge in AI tokens coincides with Nvidia’s stock price, which increased by 3.51% on Wednesday, closing at $135.58. Nvidia is known as one of the “three horsemen of AI” according to MarketWatch and has been actively developing an enterprise-level AI platform.
Circle CEO Jeremy Allaire has expressed his strong optimism towards cryptocurrencies, stating that he is “insanely bullish” on the industry.