Ethereum Altcoin That’s Exploded 1,100% This Year Ignores Bitcoin and Crypto Pullback Amid Mounting Hype on AI

An Ethereum-based altcoin that’s been trending onerous this yr is trying previous Bitcoin’s (BTC) latest corrective transfer because the hype surrounding AI intensifies.

The blockchain-based markeplace for synthetic intelligence providers 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 whilst 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 growth 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 might discover the event of a brand new mission to rival the favored chatbot ChatGPT.

The information follows Microsoft’s $10 multibillion-dollar investment within the high-profile chatbot.

SingularityNET itself additionally launched a giant replace this yr.

The protocol’s growth group stated they’re constructing an ecosystem of tasks that might increase progress and token utilization within the areas of decentralized finance (DeFi), robotics, biotech, gaming, media and enterprise-level AI.

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Featured Picture: Shutterstock/Yuganov Konstantin

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