The price of SingularityNET’s native token, AGIX/USD, has surged remarkably as AI-focused cryptocurrencies make a robust recovery. AGIX experienced a significant increase, reaching a high of $0.5556, its peak since February 8. Overall, AGIX has seen a staggering 1,088% growth this year, placing it among the best-performing digital assets in 2023.
AI Expansion Persists SingularityNET is a leading blockchain project aiming to establish itself as a vital force within the artificial intelligence (AI) sphere. The platform operates a marketplace for AI applications, which many investors believe will have a significant impact on the industry.
Several prominent decentralized applications (dApps) have emerged within the SingularityNET ecosystem, including Rejuve.ai, a technology platform revolutionizing the longevity sector. Other key components of the SingularityNET network include Cogito, Awakening Health, and Nunet, among others.
The precise cause of AGIX’s recent surge remains uncertain. One possible explanation is the overall resurgence in the cryptocurrency market. Bitcoin’s value has climbed above $26,000 for the first time in months, and the combined market cap of all cryptocurrencies has exceeded $1.08 trillion.
Additionally, other AI-related digital assets have witnessed substantial gains recently. For instance, Fetch.ai (FET) has seen its price increase by over 20% within the last 24 hours. Likewise, the relatively new CryptoGPT token has experienced a notable price surge.
In the last 24 hours, there have been significant developments in the AI field. OpenAI announced that its ChatGPT model has advanced so much that it can outperform most people on SAT scores. This news followed the release of ChatGPT-4, which offers more precise responses and image-handling capabilities. However, it is worth noting that the model’s dataset remains dated from 2021, indicating certain limitations.
AGIX Price Forecast AGIX price AGIX/USD chart by TradingView
The daily chart reveals that SingularityNET’s value has been on a powerful upward trajectory in recent days, increasing for four consecutive days. AGIX surpassed the crucial resistance level at $0.5564, its highest point since March 1, and has risen above both the 50-day and 100-day moving averages.
The Stochastic Oscillator and Relative Strength Index (RSI) have continued their ascent, indicating that the token’s value may keep climbing as buyers aim for the year-to-date high of $0.6653. The suggested stop-loss for this trade is set at $0.4500.
