Mergers between two companies are rare in the cryptocurrency industry. But it’s even rarer for three companies to come together as planned: Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX).
Whether this will be a spectacular sight or a disastrous one is yet to be determined.
The Artificial Superintelligence Alliance (ASI) is closer to becoming a reality.
Earlier this week, SingularityNET announced that it would merge with Fetch.ai and Ocean Protocol to form the Artificial Superintelligence Alliance (ASI). With this merger, three networks will be integrated into one artificial intelligence (AI) network.
Currently, the combined value of these three tokens is approximately $3.2 billion. After the merger, ASI is targeting a market capitalization of $7.5 billion, which would place the token among the world’s top 20 cryptocurrencies.
The merger will begin on June 11 and is expected to be completed by June 13, after which the three tokens will no longer exist. Until June 13th, token holders will have the opportunity to exchange their holdings for ASI.
But setting a market capitalization target of 2x the current value of these three assets raises the question of whether this is a possibility or mere fantasy.
FET, AGIX, OCEAN Price Prediction: Where They Are and Where They Can Land
Fetch.ai(FET)
Fetch.ai’s price has been consolidating for the past two months and all breakout attempts so far have failed. FET is trading between $1.95 and $2.49 at $2.11.
The Relative Strength Index (RSI) is in bearish territory below the 50.0 neutral line. RSI is a momentum oscillator that measures the speed and changes in price movements. This currently indicates a bearish outcome for next week and is likely to maintain FET consolidation.
Read more: How will artificial intelligence (AI) change cryptocurrency?
SingularityNET (AGIX)
AGIX price is performing well on macro timescales. The altcoin has been on a steady rise over the past two months, reaching a trading price of $0.89. AGIX is currently facing important resistance at $1.00.
Once this barrier is broken, the cryptocurrency asset will have a chance to rebound above $1.07.
Read more: Top 9 Artificial Intelligence (AI) Cryptocurrencies in 2024
But this could take time, and the expected merger date of June 11 is less than a week away.
ocean protocol
OCEAN’s price action was also not very impressive. The altcoin has been consolidating between $0.84 and $1.02 for eight weeks. OCEAN almost broke the upper limit at one point, but was unable to maintain its upward trend and recovered to a trading price of $0.89.
The likelihood of the altcoin falling to test the $0.84 support level is much higher than a breakout.
Read more: Top 12 Crypto Companies to Watch in 2024
Therefore, despite the current market conditions and the rise of AI, these three tokens are showing slow growth. The possibility of these assets combined to become a top 20 asset, soaring from 60th, 80th, and 143rd, seems a bit unlikely.
disclaimer
In accordance with Trust Project guidelines, this price analysis article is provided for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate and unbiased reporting, but market conditions may change without notice. Always do your own research and consult with a professional before making any financial decisions. Our Terms of Use, Privacy Policy and Disclaimer have been updated.