Today’s cryptocurrency market, including those for Bitcoin (BTC) and Ethereum (ETH), is generally pessimistic. SingularityNET (AGIX), a protocol that focuses on Artificial Intelligence (AI) and is related to Cardano, is on a rise despite the broader bearish trend, essentially detaching it from the growth paths of both Bitcoin and Cardano. According to information from CoinMarketCap, AGIX is currently trading at $0.2414, up more than 7% over the last 24 hours.
SingularityNET’s growth is clearly defined and results from the utility and adoption of its fundamental platform. The protocol, which aims to make it simple for anyone to “create, share, and monetize” AI services through a publicly available AI marketplace, tweeted some of its most important performance metrics.
According to the statistics made public, the system has already registered more than 250 million token transactions totaling 450 days of uptime. Maintaining a stable uptime is probably a characteristic that is underappreciated for a system with an open market where various transactions happen every second and that SingularityNET users and the community appear to be thankful of presently.
The protocol also gloats that it has consistently kept an open-source system operational.
Profiting from AI hype
With its primary focus on AI, SingularityNET is in an admirable position. The AI industry is quite hyped up right now, especially with the rise of ChatGPT. SingularityNET is doing everything it can to provide Web3.0 projects following this road a smooth landing to commercialise, while the majority of cryptocurrency initiatives are still working out how to properly connect with the current change.
Overall, AI in Web3.0 is still developing, and there are many positive developments to come. SingularityNET is expected to benefit greatly from this endeavour, as seen by the price movement it has experienced over time.
