Binance has accomplished the merger of three outstanding AI tokens – Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) – right into a single token underneath the banner, Synthetic Superintelligence Alliance. This transfer, geared toward fostering innovation in AI and blockchain know-how, permits customers to deposit and withdraw the unified FET token and streamlines the operations of those previously separate tasks.
“Binance has accomplished the OCEAN and AGIX token merge to FET utilizing the brand new undertaking title Synthetic Superintelligence Alliance. Deposits and withdrawals for the FET tokens are actually open.”
In accordance with the announcement, customers can convert OCEAN and AGIX tokens to FET tokens via Binance’s convert perform on the following charges:
– 1 OCEAN = 0.433226 FET
– 1 AGIX = 0.433350 FET
Nevertheless, withdrawals for OCEAN and AGIX will not be out there after the merge.
Market response to the merger has been combined. The FET/USDC buying and selling pair skilled fluctuations, dropping 4.28% to at the moment commerce at $1.163. Conversely, FET/BTC and FET/BNB pairs noticed slight positive aspects of 0.57% and 4.64%, respectively.
General, Fetch.AI’s FET has garnered important consideration from each retail and institutional buyers, with a noticeable improve in energetic addresses.
📈 Pepe, https://t.co/DoCdKzYGLd, and Ethereum Identify Service all have one factor in widespread – sudden big spikes in community development. When cash see a surge in new addresses being created, it’s usually associated to FOMO due to climbing costs (like with ENS), or a possible breakout. pic.twitter.com/d6TRtosomK
— Santiment (@santimentfeed) July 2, 2024
Knowledge platform Santiment not too long ago noticed that the sudden community development was primarily pushed by FOMO (concern of lacking out) and is probably going short-lived. The token merger, initially deliberate for June, was postponed to July, with market consultants warning of potential FET token volatility till then.
The token merge is a part of Binance’s broader plan to innovate and supply a seamless buying and selling expertise for its customers. The Synthetic Superintelligence Alliance represents a strategic alignment of the three tasks, probably resulting in additional developments in synthetic intelligence and blockchain know-how.
Customers are suggested to watch official Binance bulletins for added info.
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