The post ASI crypto merger buzz fades: FET, AGIX, OCEAN prices plunge appeared on BitcoinEthereumNews.com.

FET, AGIX and OCEAN witnessed massive price corrections over the last few days. Social volume and social sentiment around the tokens also waned. Following months of speculation, the Artificial Superintelligence Alliance (ASA) has confirmed the initial phase of its two-part token merger in an official press release. This marks a significant step towards the alliance’s goal of creating a unified AI token called ASI. The merger will combine the tokens of Fetch.ai [FET], SingularityNET [AGIX], and Ocean Protocol [OCEAN]. This collaboration aims to establish a strong foundation for a decentralized AI ecosystem. Buy the rumor, sell the news? Despite the announcement, the price of FET, AGIX and OCEAN fell significantly. At press time, FET was trading at $1.16 and its price declined in the last 24 hours by 4.02%. However, the price of FET had started its decline since the 23rd of May and exhibited both lower lows and lower highs, which were indicative of a bearish trend. The RSI (Relative Strength Index) declined significantly over the last few days, implying that bullish momentum around the token has waned materially in the past few days. Moreover, the CMF (Chaikin Money Flow) for the token also fell, which suggested that the money flowing into the AI token has declined. Source: Trading View AGIX  was a bigger victim of the bears, with prices falling by 12.77% in the last 24 hours. The price movement was similar to FET’s. However, unlike the CMF for FET, AGIX’s CMF was relatively higher indicating that the money flowing into the token remained high. RSI was negative, indicative of waning bullish momentum for the token. Source: Trading View OCEAN was no different and wasn’t spared by the bears. In the last 24 hours, the token fell by 3.97%. Moreover, the RSI and CMF were also negative implying…

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Filed under: News - @ July 10, 2024 3:18 pm