Cardano-Linked AI Coin AGIX Soars by 13%: Possible Reasons

As cryptocurrency markets take a breath after another phase of the new bullish rally, the AI coins segment is in the green. One of its veteran coins, AGIX, jumped to levels unseen since mid-April 2023.

Cardano's AI coin AGIX sees double-digit growth

In the last 24 hours, the price of SingularityNET (AGIX), a Cardano-associated artificial intelligence (AI) cryptocurrency, soared from $0.37 to $0.42, printing over a 13.5% upsurge. The rally might be catalyzed by a number of community management catalysts within the AGIX ecosystem.

First, the project inches closer to its most important event of the year, Beneficial Artificial General Intelligence Summit & Unconference 2024. The event is co-hosted by SingularityNET (AGIX), HyperCycle and True AGI decentralized platforms.

The hotly-anticipated conference is set to happen in Panama on Feb. 27-March 1, 2024.

Also, Deep Funding, an incubation initiative focused on new-gen products on the intersection between AI and blockchain, gains traction.

In order to vote for the most promising projects, Deep Funding enthusiasts should have the AGIX token on either Cardano (ADA) or Ethereum (ETH) networks.

With the recent upsurge, SingularityNET (AGIX) returned to the top five largest AI cryptocurrencies by market capitalization. With its $521 million cap, it is accompanied by Bittensor (TAO), Render Network (RNDR), Akash Network (AKT) and Fetch.ai (FET).

OpenAI's Sora release fuels AI crypto coins surge

In total, the capitalization of the AI coins sphere added 4.4% in the last 24 hours and surpassed $13.4 billion, as per CoinGecko's data.

Besides SingularityNET (AGIX), notable gainers include Echelon Prime (PRIME), Artificial Liquid Intelligence
(ALI) and Delysium (AGI).

The interest in the AI segment is yet again triggered by OpenAI's development. This week, Sam Altman's team released Sora, an unbelievably powerful AI model that creates hyperrealistic videos using text prompts.

Users of X (formerly Twitter) are sharing videos created during their experiments with Sora en masse.