An Ethereum-based altcoin that’s been trending arduous this 12 months is trying previous Bitcoin’s (BTC) current corrective transfer because the hype surrounding AI intensifies.
The blockchain-based markeplace for synthetic intelligence companies SingularityNET (AGIX) has rallied from $0.04 on January 1st to $0.48 at time of writing, representing a meteoric rise 1,100% in about two months.
AGIX can also be up 16% within the final seven days at the same time as Bitcoin retraced from round $23,500 to $22,491 over the identical timeframe.
AGIX’s stellar efficiency comes because the narrative in regards to the improvement synthetic intelligence continues to dominate headlines.
Billionaire and tech mogul Elon Musk has reportedly reached out to AI researchers to debate the opportunity of creating a brand new lab that may discover the event of a brand new challenge to rival the favored chatbot ChatGPT.
The information follows Microsoft’s $10 multibillion-dollar investment within the high-profile chatbot.
SingularityNET itself additionally launched an enormous replace this 12 months.
The protocol’s improvement workforce mentioned they’re constructing an ecosystem of initiatives that may enhance development and token utilization within the areas of decentralized finance (DeFi), robotics, biotech, gaming, media and enterprise-level AI.
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