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Despite the market sell-off on Monday, a number of artificial intelligence (AI)-related cryptocurrency assets showed impressive performance. These include Fetch.ai (FET), Ocean Protocol (OCEAN), SingularityNET (AGIX), and Arkham (ARKM).
According to data from CoinGecko, FET is up 20% in the last 24 hours and is currently priced at $1.69.
OCEAN also showed a positive trend, rising 15% over 24 hours and is currently trading at $0.68. Meanwhile, AGIX is up about 15.5% over the last 24 hours and is currently trading at about $0.68.
The recent price surge follows news that the Artificial Superintelligence Alliance, which includes SingularityNET, Fetch.ai, and Ocean Protocol, will begin merging ASI tokens on July 1. Earlier this month, the coalition said it would postpone the merger until July 15. .
Another mainstream AI token, ARKM, which is the native token of the Arkham platform, an AI-based blockchain analytics platform, also experienced a 16% surge in the last 24 hours. Currently, ARKM is trading around $2.
The surge in AI tokens comes amid a market correction on Monday morning after defunct cryptocurrency exchange Mt. Gox announced plans to repay $9 billion to creditors in July.
In the past, Mt. Gox-related news triggered a market sell-off. For example, last month the price of Bitcoin fell by $70,000 after a wallet associated with Mt. Gox began transferring more than 140,000 BTC, worth about $9 billion, to new wallets, according to data from Arkham. It fell slightly to $68,500. This is the step toward repaying creditors.
Since the recent announcement, the price of Bitcoin has fallen below $59,000. At press time, BTC had recovered above $61,000 but was still down more than 2% in the last 24 hours. The leading cryptocurrency asset is down nearly 11% this month.
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