AI tokens FET, AGIX, and OCEAN have experienced notable growth in the last 24 hours amid discussions surrounding the development of a new ‘Artificial Superintelligence’ (ASI) token.

Fetch.ai’s FET token has surged by 6%, currently trading at $3.26 with a 24-hour trading volume soaring by 57% to around $1.1 billion. The market capitalization for FET now stands at $2.73 billion, indicating strong investor interest.

SingularityNET’s AGIX token has also witnessed a significant uptick, trading at $3.26, reflecting a 10% increase within the same timeframe. The trading volume for AGIX has surged by 150% to approximately $554 million, with a market cap of $1.7 billion.

Meanwhile, Ocean Protocol’s OCEAN token has shown the most impressive gains, rising by 18%. Its trading volume has skyrocketed by 900%, reaching about $640 million, with a total market cap of $820 million.

The price movements suggest a growing optimism among investors regarding the potential merger of these AI-focused projects.

This surge in value precedes a scheduled community vote on April 2 for a proposed token merger involving SingularityNet, Fetch.ai, and Ocean Protocol. The combined market capitalization of this merger is estimated to be around $5.3 billion.

If approved, this merger would result in the creation of the Artificial Superintelligence Alliance’s ASI token, aiming to combine the strengths of the three entities to compete against Big Tech’s dominance in AI.

The alliance, to be known as the Superintelligence Collective, aims to merge Fetch.ai’s decentralized AI application platform, SingularityNET’s AI services marketplace, and Ocean Protocol’s data exchange framework.

Under the merger terms, a total of 2.631 billion ASI tokens will be distributed, replacing the existing AGIX, FET, and OCEAN tokens. Token holders can convert their existing tokens into ASI at predetermined rates.

The merger details include a one-to-one swap rate for FET into ASI tokens, with additional ASI tokens minted to allocate to AGIX and OCEAN tokenholders. Token holders storing their AGIX and OCEAN tokens on exchanges will have their conversion to ASI tokens handled by the exchanges.

This strategic move is backed by on-chain data and market sentiment analyses, indicating a positive outlook for the merger. The combined market cap of the category has seen a significant increase to $43.12 billion.

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