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Cardano-Linked SingularityNET (AGIX) up 7%, Here's Why

Thu, 07/13/2023 - 08:38
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Godfrey Benjamin
SingularityNET redefining pace for AI-backed tokens following its 7% price jump
Cardano-Linked SingularityNET (AGIX) up 7%, Here's Why
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There is a general bearish gloom on the crypto market today, including on Bitcoin (BTC) and Ethereum (ETH). While the trend is generally bearish, the Cardano-linked Artificial Intelligence (AI) focused protocol, SingularityNET (AGIX), is instead on an uptrend, effectively decoupling from the growth path of both Bitcoin and Cardano. Per data from CoinMarketCap, AGIX is changing hands at a price of $0.2414, up by more than 7% over the past 24 hours.

The growth of SingularityNET is very defined, which is born out of its core platform utility and adoption. The protocol, designed as an outfit allowing anybody to easily "create, share, and monetize" AI services through its globally accessible AI marketplace, shared some of its key performance statistics on Twitter.

Per the data released, the protocol said it has now recorded more than 250 million transacted tokens with a cumulative 450 days of uptime. For a protocol with an open market where different transactions take place by the second, maintaining a reliable uptime is arguably an underrated feature that SingularityNET users and community appear to be appreciative of now.

The protocol also boasts that it has maintained an open-source outfit with 100% uptime.

Cardano-Linked SingularityNET (AGIX) up 7%, Is This Bubble or Legit Run?

Profiting from AI hype

SingularityNET is occupying an envious position with its core focus trained on AI. A lot of hype is going on in the AI space, especially given the emergence of ChatGPT. While most crypto projects are still figuring out how to properly align with the ongoing revolution, SingularityNET is doing all it can to give Web3.0 projects exploring this path a soft landing to commercialize.

Overall, AI in Web3.0 is still evolving, with a lot of upside potential in the near future. In this pursuit, SingularityNET is billed to be among the biggest beneficiaries, as its price action over time has shown.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.