Ethereum Altcoin That is Exploded 1,100% This Yr Ignores Bitcoin and Crypto Pullback Amid Mounting Hype on AI

An Ethereum-based altcoin that’s been trending laborious this 12 months is taking a look previous Bitcoin’s (BTC) contemporary corrective transfer because the hype surrounding AI intensifies.

The blockchain-based markeplace for synthetic intelligence services and products SingularityNET (AGIX) has rallied from $0.04 on January 1st to $0.48 at time of writing, representing a meteoric upward push 1,100% in about two months.

AGIX may be up 16% within the final seven days whilst Bitcoin retraced from round $23,500 to $22,491 over the similar time frame.

AGIX’s stellar efficiency comes because the narrative concerning the building synthetic intelligence continues to dominate headlines.

Billionaire and tech rich person Elon Musk has reportedly reached out to AI researchers to talk about the potential of developing a brand new lab that will discover the advance of a brand new undertaking to rival the preferred chatbot ChatGPT.

The scoop follows Microsoft’s $10 multibillion-dollar funding within the high-profile chatbot.

SingularityNET itself additionally launched a large replace this 12 months.

The protocol’s building crew stated they’re construction an ecosystem of tasks that will spice up enlargement and token usage within the spaces of decentralized finance (DeFi), robotics, biotech, gaming, media and enterprise-level AI.

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Featured Symbol: Shutterstock/Yuganov Konstantin