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AGIX up 150% in January as Cardano-based AI Project Unveils ADA Plans

Fri, 01/13/2023 - 12:00
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Gamza Khanzadaev
AI project on Cardano, SingularityNET, unveils ADA plans after its token AGIX soars 150% in 2023
AGIX up 150% in January as Cardano-based AI Project Unveils ADA Plans
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SingularityNET, the artificial intelligence project being developed on Cardano, has unveiled plans to enable cross-chain interoperability on Ethereum and Cardano. The platform's plans are ambitious and directly affect Cardano's native token, ADA.

According to the official announcement, AGIX-ADA staking on Cardano should be launched soon, namely the first quarter of 2023. AGIX is, as a reminder, the native token of the AI services marketplace being developed by SingularityNET. Prior to this, a bridge was launched between the Ethereum and Cardano networks, allowing AGIX to be converted between them. Next, the AGIX-ADA rewards program was also launched.

Cardano (ADA) Interoperability Reaches Crucial Milestone: ADA/AGIX Converter Is Live

Crypto AI narrative

Since the beginning of January, the token has seen its price soar by more than 150%, starting at just $0.05 and trading at $0.115 per AGIX by now. The explosion in the popularity of artificial intelligence applications among the masses, including ChatGPT, has contributed to the soaring of SingularityNET's token price.

AGIX to USD by CoinMarketCap

The scale of the AI narrative became clear when Microsoft further announced its desire to invest $10 billion in the creators of ChatGPT and OpenAI.

Cardano's AGIX Token Up 60% on This Specific Narrative

According to CoinMarketCap, the AI and Big Data sector in cryptocurrencies is now valued at $2 billion, almost double what it was at the beginning of the year.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.