SingularityNET [AGIX] experiences this move with $50M token transaction

  • SingularityNET (AGIX) saw a 100 million token transaction, the largest on the network in 14 months.
  • The AGIX token has been experiencing a steady rise in price, with an increase of nearly 6% over the past three days.

SingularityNET (AGIX) recently experienced a significant movement that had been absent for more than a year. Given the recent surge in the price, could a move like this have an even more significant influence on the asset?

Read SingularityNET (AGIX) Price Prediction 2023-24

SingularityNET with multiple transactions

Data from Santiment indicated that on 22 March, 100 million SingularityNET (AGIX) token transactions were processed. One of the most prominent known exchange addresses sent almost a fourth of all AGIX to another address in the transaction.

The transaction was the largest on the network in 14 months, valued at nearly $50 million.

SingularityNET transaction volume

Source: Santiment

SingularityNET is an open-source platform that aims to launch a worldwide marketplace for AI services. The blockchain technology that the platform is based on makes it possible for AI agents and users to trade information and services in an open and trustable manner. The AGIX token, the system’s native currency, can be used for various purposes.

SingularutyNET (AGIX) supply stats

According to data from CoinMarketCap, there was currently 1.2 billion (approximately) SingularityNET (AGIX) in circulation, with a maximum supply of 2 billion. The market cap had declined by close to 1% in the last 24 hours, yet trading volume had increased by over 70% in the same timeframe.

AGIX on a daily timeframe

SingularityNET (AGIX) began its rise on 1 February, according to a look at it on a daily timeframe. The price had climbed by roughly 188% from when the upswing started to the present moment.

Although the price movement showed significant volatility, it held its position higher than where the uptrend started.

AGIX/USD price move

Source: TradingView

Over the previous two days, its price had risen steadily, increasing by nearly 6%. As of this writing, it was trading at $0.48, with an upward trend above its short-moving average (yellow line).

The Relative Strength Index (RSI) line for AGIX was above the 50 line, indicating that the overall trend was bullish.

 How much are 1,10,100 AGIXs worth today?

A closer examination of the ecosystem reveals that investors had substantially raised their interest in SingularityNET (AGIX) over the previous year. 

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