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JASMY, AGIX Continue to Rally: Here’s Why
- Cryptos including Bitcoin, have been trading within a narrow range, while Ethereum and other altcoins have seen significant gains.
- The Fear & Greed Index indicates a market sentiment of “Greed” at 71, approaching “Extreme Greed” levels not observed since August 2023.
- JasmyCoin and SingularityNET have shown remarkable performance, with JSMY gaining 217% and AGIX 194% over the past month.
- This development is buoyed by positive developments in their respective ecosystems and broader market trends favouring crypto and blockchain adoption.
Most cryptos including Bitcoin (BTC) have been trading in a narrow band for several days now, but some like Ethereum (ETH) have made some solid gains. ETH has gained 4% in the past 24 hours while BTC remained relatively flat.
But, other altcoins have rallied even more, continuing the current altcoin boom. Meanwhile, the Fear & Greed index is at 71 (Greed) and tends towards Extreme Greed, a value not seen since 2023.
JasmyCoin
The Japanese crypto project headed by former Sony executives continues its strong performance, putting in a double top in the past 4 days. JSMY has gained 217% over the past month, now trading for USD $0.01549 (AUD $0.02359).
JSMY is likely doing well on news about Japan wanting to be more accommodating of crypto and blockchain technology.
SingularityNET (AGIX)
AGIX also had a strong run-up and gained 194% from last month although, similarly to JSMY, SingularityNET has had a volatile few days where it didn’t really add much to the previous gains. At the time of writing one AGIX trades hands for USD $0.74 (AUD $1.14).
SingularityNET recently had made announcements about several new projects across its ecosystem which will utilise the AGIX token.
SingularityNET (AGIX) is a decentralised AI marketplace powered by blockchain, designed to enable the sharing and monetisation of AI services globally.
AGIX is the platform’s utility token, used for transactions, rewarding developers, and governance participation. It aims to democratise AI technology, preventing monopolies and promoting widespread access.
Founded by Dr. Ben Goertzel, a well-known figure in the AI space, SingularityNET strives for the creation, distribution, and collaboration of AI services across various sectors, supporting an equitable AI ecosystem and facilitating the emergence of a global, interconnected AI network.
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
