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 arduous this 12 months 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 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 concerning the growth synthetic intelligence continues to dominate headlines.

Billionaire and tech mogul Elon Musk has reportedly reached out to AI researchers to debate the potential for creating a brand new lab that will 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 an enormous replace this 12 months.

The protocol’s growth workforce mentioned they’re constructing an ecosystem of initiatives that will enhance development and token utilization within the areas of decentralized finance (DeFi), robotics, biotech, gaming, media and enterprise-level AI.

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