Amid a revived hype surrounding all things artificial intelligence (AI), recently intensified by an exceptionally positive earnings report by one of the major companies in the AI field, Nvidia (NASDAQ: NVDA), one cryptocurrency has particularly stood out in its weekly gains – SingularityNET (AGIX).
Indeed, SingularityNET is currently recording a rally of nearly 90% over the week leading up to February 23, recording an even more impressive figure of +128% in the week before February 22, according to the data shared by blockchain and crypto social metrics platform Santiment in an X post on February 22.
Furthermore, AGIX recorded a surge in other areas as of February 22, including record-breaking transaction volume at $119.6 million, whale activity that saw nine transactions over $1 million, the total number of its holders reaching an all-time high (ATH) of 93,632, as well as social dominance of 0.18%.
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SingularityNET price analysis
At press time, SingularityNET’s native token is changing hands at the price of $0.704, a minor decline of 0.14% in the last 24 hours but nonetheless racing 90.87% across the previous seven days, in addition to an even more significant rally of 177.29% on its monthly chart, as per data on February 23.
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It is also worth noting that the crypto asset of the network, which facilitates the creation and sharing of AI tools, has nearly doubled its market capitalization this week, growing from $472.68 million on February 16 to the current $879.69 million and is presently the 85-th largest in the crypto sector by this indicator.
All things considered, the recent extraordinary spike in AGIX’s price and activity suggests a renewed interest in its creator’s technology, as well as optimism regarding its future performance. However, caution and detailed research are necessary before investing in any asset.
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