SingularityNet News: What Is SingularityNET And Why Is Its AGIX Token Exploding By 116%?

The AGIX token, the native currency of SingularityNET, has seen remarkable growth since the beginning of 2023, as reported by CoinGecko with a 116% increase in the past week (at the time of writing). The bi-weekly time frame has seen even bigger gains at 360%.

SingularityNET is the first decentralized AI market built on top of the Cardano blockchain, founded by AI researcher and cognitive scientist Dr. Ben Goertzel. The goal of the project is to create an Artificial General Intelligence (AGI). The ecosystem’s journey towards AGI is progressing rapidly with recent on-chain advancements.

The custom coding language, MeTTa, being developed for SingularityNET’s goals has been successful so far. The alpha release of MeTTa will be accompanied by the release of the Distributed Atomspace (DAS) knowledge store this year, which will enable the AGI to store data for the long-term. These AI advancements are expected to make the creation of SingularityNET’s AGI easier.

The growth of AGIX has been significant, currently AGIX price at $0.2139, with a 32% increase in the last week and facing resistance at $0.2362 and $0.2546. Although the current rally may not be sustainable and there may be short-term volatility and losses, medium-term gains are possible.

Microsoft’s investment in the development of ChatGPT will further drive the integration of AI technology into the mainstream and boost AGI development. Investors and traders must be prepared to sustain short-term volatility for the possibility of medium-term gains.

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