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Binance to Delist OCEAN and AGIX in Support for Artificial Superintelligence Alliance

2 mins
Updated by Daria Krasnova
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In Brief

  • Binance exchange plans to delist and cease trading for all Ocean Protocol and SingularityNET trading pairs effective July 1.
  • OCEAN, AGIX tokens will temporarily merge to become FET, before transition to Artificial Superintelligence Alliance, ASI token.
  • AI crypto coins are rallying, with FET, AGIX, and OCEAN leading by over 30% in gains over the past 24 hours.
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The largest crypto exchange by trading volume, Binance, will delist and suspend Ocean Protocol (OCEAN) and SingularityNET (AGIX) tokens in support for Artificial Superintelligence Alliance (ASI) merger.

AI crypto coins are rallying on the back of this news, with AGIX, OCEAN, and FET leading by double digits.

Binance Delists Ocean Protocol and SingularityNET

Binance has announced that it will support the ASI token alliance. The first act of support will be to delist Ocean Protocol and SingularityNET native tokens, OCEAN and AGIX, respectively. The action, effective July 1, will mean ceasing trading for the tokens and suspending all deposits and withdrawals.

“At 2024-07-01 03:30 (UTC), deposits and withdrawals of Ocean Protocol (OCEAN) and SingularityNET (AGIX) will be suspended. Please ensure that you leave sufficient time for your OCEAN and AGIX deposits to be fully processed prior to this time,” the announcement states.

Binance has also committed to handle all technical requirements for AGIX and OCEAN holders. The two tokens will assume the ticker of FET at Binance, swapped at a ratio of 1 OCEAN to 0.433226 FET for the Ocean Protocol and 1 AGIX to 0.433350 FET for the SingularityNET token.

Read More: How Will Artificial Intelligence (AI) Transform Crypto?

As BeInCrypto reported in late March, Fetch.ai, SingularityNET, and Ocean Protocol committed to entering a definitive merger agreement. Under the terms of the contract, their respective utility tokens, FET, AGIX, and OCEAN, would become one ASI. Effectively, they would achieve “the largest open-source, independent player in AI research and development.”

This strategic move aims to foster the development of a decentralized AI platform, a vision shared by all parties. Despite the merger of their tokens into the ASI token, SingularityNET, Fetch.ai, and Ocean Protocol will maintain their operational independence. However, they will collaborate under the umbrella of the Superintelligence Collective. This new coalition will be led by Ben Goertzel, the founder and CEO of SingularityNET.

The convergence of the three entities reflects the escalating race among AI-oriented platforms to pioneer decentralized AI technology. The goal is to move away from the control of tech giants like Alphabet and Microsoft and ensure that corporations do not solely prioritize shareholder interests.

FET, AGIX, OCEAN Tokens Rally

FET, AGIX, and OCEAN are rallying on the back of this news, significantly outperforming their peers in the sector. AI tokens have seen gains upwards of 30%, showcasing market confidence.

Read more: Best Crypto AI Trading Apps in 2024

FET, AGIX, OCEAN prices
FET/USDT, AGIX/USDT, OCEAN/USDT 1D Charts, Source: TradingView

A look at the FET/USDT trading pair in the 1-day timeframe shows a strong resolve among the bulls. This is demonstrated by the bullish crossover when the Relative Strength Index (RSI) crosses above its signal line (yellow band).

The RSI crossover is considered a buy signal. The large green nodes on the volume profile reinforce it. Together, they signify positive sentiment in the FET market. The Parabolic Stop and Reverse (SAR) indicator is trailing the Fetch.ai price from below. As long as this price tracking indicator trails the asset from below, the token remains bullish.

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Lockridge Okoth
Lockridge Okoth is a journalist at BeInCrypto, focusing on prominent industry companies such as Coinbase, Binance, and Tether. He covers a wide range of topics, including regulatory developments in decentralized finance (DeFi), decentralized physical infrastructure networks (DePIN), real-world assets (RWA), GameFi, and cryptocurrencies. Previously, Lockridge conducted market analysis and technical assessments of digital assets, including Bitcoin and altcoins such as Arbitrum, Polkadot, and...
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