SingularityNET’s AGIX price outlook as AI investments rise

Mina

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Jul 10, 2023
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  • Elon Musk, the richest man on earth, has began a brand new AI firm.


  • Nvidia made a $50 million funding in a biotech firm utilizing AI.
SingularityNET value jumped sharply on Thursday as buyers reacted to the most recent investments in synthetic intelligence (AI). AGIX, the community’s token, jumped to a excessive of $0.2640, the best degree since July third.

AI investments rising


Synthetic Intelligence has been a significant theme this 12 months as buyers cheer the launch of key initiatives like OpenAI’s ChatGPT and Google’s Bard. Consequently, most corporations with an publicity to synthetic intelligence like Nvidia and C3.ai have accomplished effectively this 12 months.

There are two major the explanation why AGIX and different AI cryptocurrencies are rising. First, Elon Musk, the richest man on the planet, introduced that he had launched a brand new AI firm often known as X.ai.

Particulars about what the corporate will do and the way it will work are nonetheless skinny. Nonetheless, analysts consider that the corporate will search to construct a greater AI mannequin than ChatGPT and Bard.

Elon Musk has a protracted historical past with AI. For one, he was one of many preliminary funders of OpenAI. Additionally, an organization like Tesla makes use of some AI options already. Subsequently, buyers consider that his involvement will result in extra development within the trade.

Second, AI cash and shares jumped after Nvidia introduced a $50 million funding in Recursion, a biotech firm. Recursion will use Nvidia’s cloud platform to deal with over 23 petabytes of organic information. This can be a signal that there are nonetheless extra demand for the AI monetary belongings.

SingularityNET value forecast


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The 4H chart exhibits that the AGIX crypto value has made a powerful bullish development previously few days. It has moved above the vital help degree since June twentieth. The coin has moved above the 25-period and 50-period shifting averages. It is usually approaching the vital resistance degree at $0.2693, the best level on July third.

In the meantime, the token looks like it has shaped a head and shoulders indicator whereas the Relative Power Index (RSI) has moved above the overbought degree. Subsequently, a transfer above the best shoulder degree of $0.26 will invalidate the bearish view. A transfer above the resistance at $0.2693 will result in extra upside, with the goal being at $0.30.

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