- SingularityNET is one of the best-performing cryptocurrencies on Thursday.
- Rejuve, a key part of its ecosystem, completed a funding round in 72 seconds.
SingularityNET price continued rebounding this week as demand for artificial intelligence (AI) tokens rose. AGIX, its native token, jumped to a high of $0.5162 on Thursday, which was ~70% above the lowest point on March 10.
Demand for AI products rising
SingularityNET is a fast-growing platform that is infusing blockchain technology with artificial intelligence. It has created a next generation project where developers can create and market their AI products.
The network’s ecosystem is growing as demand for artificial intelligence solutions rise. For example, Rejuve.ai is one of the top platforms in the ecosystem. The team have created the Longevity app, which helps people to measure and track their longevity and healthspan.
Meanwhile, Nunet, another upcoming project in its ecosystem that is building a globally decentralized framework that combines computing power of independently owned computing devices. Its technology is similar to that of Internet Computer, one of the leading players in the industry.
The number of dApps in the SingularityNet has risen in the past few months. Other popular ones include Deep Funding, Awakening Health, and SingularityDAO among others.
AGIX price has risen after Rejuve completed its community round in 72 seconds. The company raised $900,000 from thousands of investors. Its statement added:
“We thank everyone for supporting our project and subscribing to the vision of decentralizing longevity research for a longer life for all, powered by the path towards beneficial decentralized Artificial General Intelligence.”
The other reason for the AGIX price rally is the enthusiasm surrounding OpenAI and ChatGPT. Earlier this week, the developers launched ChatGPT-4, which has more features. For example, the platform can now handle picture questions. It is also much faster than the previous version. Therefore, other top crypto projects in the AI field like Fetch.ai and The Graph rose as the hype resumed.
SingularityNET price prediction
The daily chart shows that the AGIX crypto price has been in a strong bullish trend in the past few months. Most importantly, the price is being supported by the 50-day and 100-day moving averages. It has remained above the two averages for the most part of this year.
The price is a few points below the important resistance point at $0.5565, the highest level on March 1. Further, the Relative Strength Index (RSI) has moved above the RSI-based moving average. Therefore, there is a possibility that the token will continue soaring as buyers target the year-to-date high of$0.6721, which is about 36% above the current level.
