As an experienced analyst, I have closely monitored the ongoing developments in the cryptocurrency industry, and the recent announcement regarding the ASI token merger between Fetch AI, SingularityNET, and Ocean Protocol has piqued my interest. Having seen similar transitions take place in the past, I believe this merger will bring significant changes to the ecosystems of these projects.
The merger of the ASI token, specifically Phases 1, has commenced officially. This significant move has triggered a notice about ongoing token swaps for users. During this transformation, trading platforms are delisting SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens. This temporary adjustment may influence user balances. The conversion process entails exchanging SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens into Fetch AI’s FET. Fetch AI has reassured FET holders that no immediate action is required during this system upgrade as the token swap will be automated.
Migration Details and Exchange Actions
Today marks the beginning of Phase 1 in Fetch AI’s token merger process, during which we focus on bringing exchanges and data aggregators aboard to facilitate a seamless transition. Previously, Fetch AI reassured us that there’s no need to hurry, as the priority is on establishing the foundation for the upcoming rebranding. In this phase, we merge SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens into Fetch AI’s FET token.
As a crypto investor, I’ve noticed some advancement in the ongoing migration process. Specifically, 1,780,753.42 AGIX tokens have been converted into 771,689.49 FET and 336,445.31 OCEAN tokens into 145,756.86 FET. Fetch AI has announced that this network upgrade will result in holders and stakers on their mainnet receiving automatically converted ASI tokens, signaling a substantial step forward in the development of Fetch AI’s blockchain ecosystem. In reaction to this migration, various exchanges have taken action by delisting AGIX and OCEAN tokens.
During the migration process, users might observe temporary adjustments to their account balances. Rest assured, Fetch AI is collaborating closely with all relevant parties to facilitate a seamless transition. Once finished, your FET balances will be restored. Concurrently, FET trading remains unhampered on partnering exchanges. The rebranding initiative has commenced, encompassing modifications to the project titles and visual identities, along with the termination of AGIX and OCEAN deposit functionalities.
Artificial Superintelligence Alliance (FET) Market Performance
The current price of Artificial Superintelligence Alliance (FET) is $1.40, based on the most recent figures, with a 24-hour trading volume amounting to $193.2 million. Open interest in FET has risen by 4.69% within the last day, equivalent to a value of $48.1 million, indicating a strong possibility of heightened demand due to the ongoing migration procedure.
Although there’s increasing public curiosity, FET has seen a 0.94% drop in price over the last day and a 4.17% decrease during the past week. With a circulating supply of 2.5 billion units, Artificial Superintelligence Alliance presently boasts a market capitalization of $3.5 billion.
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2024-07-01 15:10