As an analyst with a background in artificial intelligence and cryptocurrency markets, I find the upcoming merger of Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) to create a new Artificial Superintelligence (ASI) token on Binance particularly intriguing.
As a researcher studying the latest developments in the cryptocurrency market, I’m excited to share that starting July 5, Binance will introduce trading for the new Artificial Superintelligence (ASI) token. This announcement comes prior to the anticipated merger of Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX). The buzz surrounding this listing has been significant as Binance moves to add the token to its platform before the merger is finalized.
The Artificial Superintelligence Alliance intends to smoothly introduce these cryptocurrencies with a focus on AI technology beginning July 5.
Binance To Launch ASI Token Trading
The announcement by Binance that they will back the upcoming ASI token, resulting from the fusion of FET, OCEAN, and AGIX, signifies a major milestone in the development of artificial intelligence cryptocurrencies. Importantly, the scheduled date for this token merger, which was previously slated for June 13, has been revised to now take place on July 15.
According to Binance’s latest announcement, the ASI token trading is set to begin on July 5, preceding the merge date as communicated by the ASI team. In their update, Binance offers comprehensive insights into handling the technical aspects of this merge process.
As a crypto investor, I’m preparing you for some upcoming changes at Binance. Starting from July 1, Binance will temporarily halt deposits and withdrawals for FET, OCEAN, and AGIX tokens. Rest assured, Binance is taking charge of all the technical aspects to make the transition to the new ASI token as seamless as possible for its users.
I’d like to point out that according to the announcement, the trading pairs for FET, OCEAN, and AGIX will no longer be available. This means that any open orders associated with these tokens will be terminated automatically. Furthermore, it is important to mention that the conversion ratios for these tokens have been established.
- 1 FET will be equivalent to 1 ASI.
1 OCEAN will convert to 0.433226 ASI.
1 AGIX will convert to 0.433350 ASI.
As an analyst, I would put it this way: The present valuation ratios demonstrate the strategic fit within the Artificial Superintelligence Alliance post-merger. Once the deal is completed, Binance will enable deposits and withdrawals for ASI again, essentially replacing the previous tokens on their platform.
A Closer Look Into The Report
Beginning July 5 on Binance, ASI tokens can be traded against a versatile selection of pairs, including BNB, BTC, BRL, FDUSD, TRY, USDC, and USDT. This extensive list is intended to offer traders diverse opportunities to utilize the new token in various market conditions.
Binance intends to remove and settle all futures contracts linked to FET, OCEAN, and AGIX by June 25. This action is taken to reduce risks during the transitional period. For traders with margin accounts, Binance will eliminate the relevant cross and isolated margin pairs for FET, OCEAN, and AGIX on June 26.
As a crypto investor, I’d advise paying attention to the announcement from Binance regarding the upcoming token delistings. To minimize potential losses, it would be wise to close or transfer any affected positions before the process begins. Also, keep in mind that all outstanding loan positions and flexible earn products associated with these tokens will be closed and automatically converted to Binance’s Automated Savings Investment (ASI) product.
As a crypto investor, I’ve noticed an emerging trend in the industry towards consolidation and technological integration. The merger and creation of ASI is a prime example of this shift. By bringing together FET, OCEAN, and AGIX under one unified token, the Artificial Superintelligence Alliance intends to amplify the capabilities and market appeal of AI-focused cryptocurrencies like ours.
Discussing crypto prices, FET decreased by 2.39% to reach $1.60, while OCEAN experienced a drop of 2.87% to $0.6793. Over the past week, FET and OCEAN both suffered significant losses of approximately 21.30% and 22.31%, respectively.
I’ve observed a decline of 2.44% in AGIX‘s price over the past 24 hours, accompanied by a reduction in trading volume amounting to 14%, reaching a total of $76.16 million.
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2024-06-14 16:56