AI cryptocurrency token has grown by more than 300% since the beginning of the year

The native token of the SingularityNET platform, which develops decentralized AI applications, has grown by more than 300% since the beginning of 2023. According to CoinGecko, AGIX is currently trading at $ 0.221 256. The value of the AI token has risen by 318% over the past 14 days and continues to grow.

According to cryptocurrency analysts, AGIX’s price chart is one of the most optimistic on the market. However, «the current rally of the token is unstable, bears may retest its support at $ 0.1404,» the experts believe.

As for SingularityNET, it is the first decentralized platform for AI applications built on the Cardano blockchain. The project was founded by Ben Herzl, a cognitive scientist and one of the leading experts in AI research.

At the time of writing, the SingularityNET ecosystem includes 13 protocols that are either being developed or already deployed as a full-fledged component of the ecosystem.

According to some analysts, Microsoft’s acquisition of OpenAI, the company that owns ChatGPT, an AI-based chatbot, will stimulate the industry’s active development and increase investors' interest in AI tokens. According to one rumor, if the deal is successful, Microsoft may acquire a 49% stake in OpenAI.