SingularityNET is a platform focused on the creation and monetization of Artificial Intelligence (AI) services. Its creation is not recent, since the price chart can be traced back to 2018.
However, the popularity of AGIX, its governance token, has skyrocketed recently. AI has gained more and more prominence in the world, with image or text creation services such as GTP Chat attracting millions of people around the world.
With the recent price movement, AGIX returns to levels of a peak it had in 2021, in full general bullish run of the cryptocurrency market. But it is still well below its launch price, having traded at one point above $1.49 per token.
At the moment, AGIX has a market capitalization of more than $1.1 billion. Such a figure places the token in 74th place in market capitalization.
Why there is a boom with Artificial Intelligence
Small-cap investors are flocking to small-caps that employ artificial intelligence (AI) at a time of brutal competition among tech titans Alphabet, the parent of Google, and Microsoft to secure leadership of the next big growth engine in the sector.
ChatGPT’s viral success has focused Wall Street’s attention on artificial intelligence, a phenomenon reminiscent of blockchain a few years ago, when shares of companies remotely related to technology soared.
“Clearly there will be winners and losers with the current novelty in the markets, AI, but it will also take some time to figure out how all of these AI-focused companies plan to monetize this exciting new technology,” said Arthur Hogan, chief strategist at B.Riley Wealth Market.
Source: Ambito
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