ASI Formation by FET, AGIX, and OCEAN: What It Means for Prices

Mergers between two companies in the crypto industry are rare. Still, it is even rarer to see three companies come together as Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) plan to.

Whether this will turn out to be a spectacular or a disastrous spectacle is yet to be determined.

The Artificial Superintelligence Alliance (ASI) Closer to Coming to Life

Earlier this week, SingularityNET announced that it would merge with Fetch.ai and Ocean Protocol to form the Artificial Superintelligence Alliance (ASI). The merger will unify the three networks into one Artificial Intelligence (AI) network.

Currently, these three tokens are worth around $3.2 billion combined. Following the merger, ASI is targeting a market cap of $7.5 billion, which would place the token among the top 20 cryptocurrencies in the world.

The merger is expected to begin on June 11 and be completed by June 13, after which the three tokens cease to exist. Token holders until June 13 will have a chance of swapping their holdings for ASI.

However, with a market cap target of 2x the current valuation of these three assets, the question arises if this is a possibility or a simple fantasy.

FET, AGIX, OCEAN Price Prediction: Where They Are and Where They Could Land

Fetch.ai (FET)

Fetch.ai’s price has been consolidating for the past two months, with every breakout attempt failing so far. FET is changing hands at $2.11, moving within the range of $1.95 and $2.49.

The Relative Strength Index (RSI) is in the bearish zone under the neutral line of 50.0. The RSI is a momentum oscillator that measures the speed and change of price movements. It currently signals a bearish outcome over the next week, likely keeping FET consolidated.