AI Token AGIX Sees Incredible 700% Increase in 2023 - Here's the Explanation

 

AI tokens, which are the official cryptocurrencies from trustworthy AI-related organizations, have been gaining traction in the industry lately. Following the success of products such as ChatGPT, any token affiliated with AI appears to be on the rise. AGIX from SingularityNET is no exception, as its price has significantly jumped up since the start of 2021.

It is becoming increasingly evident that AI's time to enter the mainstream is either now or soon. Microsoft's investment of $10 billion in ChatGPT is a strong indication that artificial intelligence will become a more common occurrence in the near future.

AGIX Token Soar By An Astonishing 700%

Over the last four weeks, the utility token for SingularityNET, AGIX, which is based on the Cardano blockchain, has seen a tremendous surge in interest, with its value rising by 742%. This increase in attention has been due to the ever-growing popularity of Artificial Intelligence technology.

During the past month, the token experienced new heights, going from the $0.04 area at the start of 2021 to a value above $0.4 now. The token escalated over 100% in only three days, starting from $0.25 on February 3rd and reaching a maximum of $0.48 on the 6th.

NewsBTC reports that, the price chart is showing indications of continuous momentum increase as per fundamental analysis, thus AGIX could possibly go up further. Its market cap has already surpassed $517.3 million, and the token is now at 91st place in the international cryptocurrency market.

Dr. Ben Goertzel, a leading cognitive scientist and a major innovator in the AI space, founded AGIX SingularityNET. The objective of this undertaking is to construct an AGI, also known as Artificial General Intelligence.

It has been observed that the products under SingularityNET have experienced considerable progress in terms of on-chain activities. As per a blog post released by the organization, their objective of creating an Artificial General Intelligence (AGI) is likely to be achieved in the year 2022. 

Additionally, the programming language MeTTa, which SingularityNET intends to employ to attain their purpose, has demonstrated beneficial results.

Artificial Intelligence is Becoming More Popular

As time has marched on, Artificial Intelligence has become an integral part of the technological progress made in each century. This has prompted major tech corporations like Google and Microsoft to invest heavily in the AI market, causing AI tokens to overtake the popular cryptocurrencies including Bitcoin and Ethereum in terms of value.

Last week, Google devoted nearly $400 million to a new AI startup called Anthropic AI, which is creating a competing technology to OpenAI's ChatGPT. Back in 2019, Microsoft invested $1 billion in AI startups and even added an additional $10 billion to the group behind ChatGPT, OpenAI.

It appears that the recent investments from leading tech companies indicate a potential boost for artificial intelligence in the coming months. This could be the beginning of a new wave of acceptance for SingularityNET, its respective cryptocurrency, and the crypto market in its entirety. [pc]