If you live under the rock, the crypto bulls are back. The market has seen a jump of 35% since the start of the year.
Amidst this, Saqib Iqbal, a financial analyst at Trading.Biz, thinks this coin can catch on to the AI and crypto rally and rise 100% in the coming months.
- The crypto market has surged 35% since the start of the year, with SingularityNET (AGIX) up by 812%.
- AGIX’s strong core fundamentals and role in democratizing AI development make it poised for continued growth.
- AGIX could rise 100% in the coming months, driven by the AI and crypto rallies.
He says, “The AI and crypto boom has been one of the important stories so far this year. We saw Bitcoin trading over $70,000 and NVidia (NASDAQ: NVDA) rallying more than 81% this year, and this trend will not go away soon.
“So, a crypto coin driven by AI makes a lot of sense, and SingularityNET (AGIX) is a perfect blend.”
SingularityNET (AGIX) is a blockchain platform that allows anybody to develop, distribute, and commercialize AI services. It offers a worldwide AI marketplace where users may acquire several AI services using the AGIX token.
So far, in 2024, SingularityNET has come out as one of the top-performing cryptocurrencies, with AGIX up an impressive 812% versus the US dollar since January 1.
While a 100% price increase may appear overly optimistic initially, SingularityNET’s strong core fundamentals and the AI boom create a compelling platform for AGIX’s continuing growth.
SingularityNET promises to democratize AI development and commercialization through blockchain technology. AGIX is the principal currency for acquiring AI services on SingularityNET’s marketplace.
Users on the platform pay AGIX to gain access to AI solutions, while developers receive AGIX in exchange for their efforts. This two-sided economic approach generates an autonomous system built around the token.
Additionally, the platform enables cross-chain transactions between Ethereum and Cardano using SingularityNET’s gateway. These different services provide significant fundamental demand for the coin.
AGIX technical analysis: Poised for a stronger gain
AGIX recently traded at an all-time high of $1.4738 but then moved slightly downwards.
On the daily chart, the coin is trading above its resistance level. It has seen a significant rally since February 16, rising over 350%. If the trend continues, we can see the price crossing over 3, an increase of more than 134%.
