- The ASI token merger has began, consolidating AGIX and OCEAN tokens into FET within the first part.
- A big whale transaction transformed $7.5 million of AGIX and OCEAN into FET.
- Some exchanges delisted AGIX and OCEAN, whereas Coinbase presents a handbook migration possibility for customers.
The Synthetic Superintelligence Alliance (ASI) has initiated its bold $7.5 billion token merger, commencing with the consolidation of SingularityNET (AGIX) and Ocean Protocol (OCEAN) tokens into Fetch.ai’s FET token.
This preliminary part has already been confirmed via on-chain exercise, signaling a significant shift within the AI cryptocurrency panorama.
The Synthetic Superintelligence Alliance (ASI) has initiated its extremely anticipated token merger, beginning with the consolidation of two AI token tasks: SingularityNET (AGIX) and Ocean Protocol (OCEAN).
In line with a publish on X by analytics platform Scopescan, a major whale transaction occurred, the place 8 million AGIX tokens and 4.8 million OCEAN cash have been transformed into 5.6 million FET price $7.5 million. The ensuing FET tokens have been then deposited into the Bitget trade.
Notably, this consolidation was initially scheduled for June 13 however was delayed till July 15 to permit adequate time to handle the technical necessities of exchanges, validators, and different ecosystem companions. The preliminary phases are actually underway.
The current improvement, the place AGIX and OCEAN tokens merged into the FET token, has led to the widespread delisting of the unique tokens from cryptocurrency exchanges.
Nonetheless, not all exchanges have chosen to assist the merger for his or her customers. Notably, U.S.-based Coinbase is amongst these opting to not implement an automated conversion mechanism for customers’ token holdings.
In a earlier replace, Coinbase introduced that FET and OCEAN buying and selling will proceed on their platform till additional discover. Customers who want to manually migrate their holdings to FET can make the most of a workaround.
Knowledge aggregators and exchanges can facilitate the ASI token migration via SingularityDAO, a newly launched migration platform. Within the first part, AGIX tokens can be exchanged for FET at a fee of 1 AGIX to 0.43335 FET. Within the subsequent part, FET tokens will convert into ASI and launch throughout a number of blockchain networks.
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