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An Ethereum-based altcoin that has been trending strongly this year is looking past Bitcoin’s (BTC) recent corrective move as AI hype intensifies.
The blockchain-based market for artificial intelligence services SingularityNET (AGIX) has grown from $0.04 on January 1 to $0.48 at the time of writing, a whopping 1100% increase in about two months.
AGIX is also up 16% in the past seven days, even as Bitcoin surged from around $23,500 to $22,491 over the same period.
AGIX’s stellar performance comes as the artificial intelligence development narrative continues to dominate the headlines.
Billionaire and tech mogul Elon Musk has reportedly reached out to AI researchers to discuss the possibility of setting up a new lab that would explore the development of a new project to rival popular chatbot ChatGPT.
The news follows Microsoft’s $10 billion investment in the high profile chatbot.
SingularityNET itself also released a big update this year.
The protocol development team said it was building an ecosystem of projects that would drive the growth and use of tokens in the areas of decentralized finance (DeFi), robotics, biotechnology, games, enterprise-level media and AI.
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Feature image: Shutterstock/Yuganov Konstantin
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