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SingularityNET’s AGIX Leads Surge in Tokens Related to Artificial Intelligence

The blockchain AI project’s utility token has surged 18% in the past 24 hours after Microsoft announced plans to invest in OpenAI.

By Jocelyn Yang
AccessTimeIconJan 11, 2023 at 7:15 p.m. UTC
Updated Jan 11, 2023 at 7:55 p.m. UTC
Artificial intelligence-focused tokens have been rising lately (Getty Images)

Artificial intelligence-focused tokens have been rising lately (Getty Images)

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The hot news surrounding the artificial-intelligence (AI) tool ChatGPT is inspiring an upsurge in AI-focused tokens in the crypto market.

Blockchain AI project SingularityNET led Wednesday's AI and big data token board, with its utility token AGIX surging 18% in the past 24 hours and 80% over the past seven days, according to data from CoinMarketCap.

AGIX’s price jump started around Tuesday, following the news that Microsoft (MSFT) plans to invest $10 billion in OpenAI, the startup behind the popular artificial-intelligence tool ChatGPT. The token’s price climbed to as high as 10 cents on Wednesday before settling back to 8 cents as of press time.

The token’s trading volume has surged 529% in the past 24 hours, CoinMarketCap’s data shows. The token, launched in 2018 and rebranded in 2021, works across multiple blockchains such as Cardano and Ethereum.

Other AI- and big data-related tokens have been on the rise lately, as well. The Graph’s native token, GRT, has risen 15% over the past seven days, and AI platform Fetch.ai's native token, FET, has surged over 60% over the same period.

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Jocelyn Yang
Jocelyn Yang

Jocelyn Yang is a markets reporter at CoinDesk. She is a recent graduate of Emerson College's journalism program.

Follow @_jocelynyang_ on Twitter

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