{"id":16559,"date":"2023-01-21T04:53:16","date_gmt":"2023-01-21T08:53:16","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=16559"},"modified":"2023-01-21T04:53:16","modified_gmt":"2023-01-21T08:53:16","slug":"what-is-singularitynet-and-why-is-its-agix-token-exploding-by-116","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/21\/what-is-singularitynet-and-why-is-its-agix-token-exploding-by-116\/","title":{"rendered":"What is SingularityNET And Why Is Its AGIX Token Exploding By 116%?"},"content":{"rendered":"

The popularity<\/a> of artificial intelligence applications has been growing as popular platforms like SingularityNET and ChatGPT become mainstream. <\/p>\n

With Microsoft investing $10 billion on ChatGPT, we should expect AI applications to become more mainstream in the next few years.\u00a0<\/p>\n

AGIX, the native token of the SingularityNET, is capitalizing on this as it tallied huge gains since the start of 2023. According to CoinGecko<\/a>, the token is up 116% in the past week (at the time of writing, Friday) with the biggest gains made at the bi-weekly time frame at 360%.\u00a0<\/p>\n

What Is SingularityNET?<\/strong><\/h2>\n

SingularityNET<\/a> is the first decentralized AI market that is built on top of the Cardano blockchain. The project was founded by Dr. Ben Goertzel, a cognitive scientist and one of the leading figures in AI research. The project is set to create an AGI or an artificial general intelligence.\u00a0<\/p>\n\n

As of writing, the SingularityNET ecosystem comprises 13 protocols that are either being built or are already deployed as a full-fledged component of the ecosystem.\u00a0<\/p>\n

Getting Smarter By The Day<\/strong><\/h2>\n

On-chain developments have been very bullish for the SingularityNET ecosystem. According to the ecosystem\u2019s recent blog post<\/a>, the journey of SingularityNET in creating an AGI is getting closer by the day.\u00a0<\/p>\n

The development of the MeTTa, a custom coding language specifically built for SingularityNET\u2019s goals, have been successful so far.<\/p>\n

The alpha release of the coding language will be accompanied by the release of the Distributed Atomspace (DAS) knowledge store this 2023.<\/p>\n

This technology would enable the AGI to store data for the long-term. These developments in the realm of AI will certainly make the creation of SingularityNET\u2019s AGI easier.\u00a0<\/p>\n

How Did These Affect AGIX?\u00a0<\/strong><\/p>\n

The ecosystem\u2019s native token AGIX is currently one of the most bullish tokens on the market. As of Saturday, AGIX is trading at $0.2139, rising 32% in the last week, and facing rejection at two strong resistances at $0.2362 and $0.2546.\u00a0<\/p>\n

The current rally of the token is unsustainable and bears might be able to retest its support $0.1404. This support is shaky as any breakthrough on this level might force AGIX to drop at $0.0822 in the medium term.\u00a0<\/p>\n

But as time progresses, investors and traders should be able to observe how AGIX will react with the releases of crucial components of SingularityNET\u2019s AGI development. <\/p>\n

However, Microsoft\u2019s investment on ChatGPT development will further cement artificial intelligence technology in the mainstream, boosting the development of the AGI.\u00a0<\/p>\n

With this in mind, investors and traders would have to sustain short term volatility and losses for possible medium term gains.\u00a0<\/p>\n

Featured image by VentureBeat<\/em><\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

The popularity<\/a> of artificial intelligence applications has been growing as popular platforms like SingularityNET and ChatGPT become mainstream. <\/p>\n

With Microsoft investing $10 billion on ChatGPT, we should expect AI applications to become more mainstream in the next few years.\u00a0<\/p>\n

AGIX, the native token of the SingularityNET, is capitalizing on this as it tallied huge gains since the start of 2023. According to CoinGecko<\/a>, the token is up 116% in the past week (at the time of writing, Friday) with the biggest gains made at the bi-weekly time frame at 360%.\u00a0<\/p>\n

What Is SingularityNET?<\/strong><\/h2>\n

SingularityNET<\/a> is the first decentralized AI market that is built on top of the Cardano blockchain. The project was founded by Dr. Ben Goertzel, a cognitive scientist and one of the leading figures in AI research. The project is set to create an AGI or an artificial general intelligence.\u00a0<\/p>\n

As of writing, the SingularityNET ecosystem comprises 13 protocols that are either being built or are already deployed as a full-fledged component of the ecosystem.\u00a0<\/p>\n

Getting Smarter By The Day<\/strong><\/h2>\n

On-chain developments have been very bullish for the SingularityNET ecosystem. According to the ecosystem\u2019s recent blog post<\/a>, the journey of SingularityNET in creating an AGI is getting closer by the day.\u00a0<\/p>\n

The development of the MeTTa, a custom coding language specifically built for SingularityNET\u2019s goals, have been successful so far.<\/p>\n

The alpha release of the coding language will be accompanied by the release of the Distributed Atomspace (DAS) knowledge store this 2023.<\/p>\n

This technology would enable the AGI to store data for the long-term. These developments in the realm of AI will certainly make the creation of SingularityNET\u2019s AGI easier.\u00a0<\/p>\n

How Did These Affect AGIX?\u00a0<\/strong><\/p>\n

The ecosystem\u2019s native token AGIX is currently one of the most bullish tokens on the market. As of Saturday, AGIX is trading at $0.2139, rising 32% in the last week, and facing rejection at two strong resistances at $0.2362 and $0.2546.\u00a0<\/p>\n

The current rally of the token is unsustainable and bears might be able to retest its support $0.1404. This support is shaky as any breakthrough on this level might force AGIX to drop at $0.0822 in the medium term.\u00a0<\/p>\n

But as time progresses, investors and traders should be able to observe how AGIX will react with the releases of crucial components of SingularityNET\u2019s AGI development. <\/p>\n

However, Microsoft\u2019s investment on ChatGPT development will further cement artificial intelligence technology in the mainstream, boosting the development of the AGI.\u00a0<\/p>\n

With this in mind, investors and traders would have to sustain short term volatility and losses for possible medium term gains.\u00a0<\/p>\n

Featured image by VentureBeat<\/em><\/p>\n

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