Artificial Superintelligence Alliance: Decentralized AI Ecosystem
By Selene Wang | Crescent City Capital Market Analyst Intern
1. Introduction to ASI Alliance
The Artificial Superintelligence (ASI) Alliance is a collective formed by Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN).
As the largest open-sourced, independent entity in AI research and development, this alliance aims to accelerate the advancement of decentralized Artificial General Intelligence (AGI) and, ultimately, Artificial Superintelligence (ASI).
The ASI Alliance represents a significant shift toward a decentralized AI ecosystem, offering an alternative to AI development dominated by big tech. By pooling their resources and expertise, Fetch.ai, SingularityNET, and Ocean Protocol aim to foster innovation, transparency, and inclusivity in the development of advanced AI technologies.
2. How does it work
The ASI Alliance unites three projects in AI and blockchain:
- Fetch.ai: Focuses on creating autonomous agents capable of performing complex tasks, interacting with other agents, and providing valuable services without human intervention.
- SingularityNET: Aims to push past narrow AI and actively develop decentralized artificial general intelligence based on open-source initiatives and the unification of multiple developmental paradigms.
- Ocean Protocol: Provides a framework for secure and transparent data exchange, allowing AI models to access and utilize vast datasets for training and improvement.
Together, these projects aim to build a robust ecosystem that fosters advanced AI technologies’ development and ensures their equitable distribution and ethical use.
3. Market Analysis
(1) Price & Market Cap Performance
- Live price: $1.31
- All-Time High: $3.45 (Mar 28, 2024)
- All-Time Low: $$0.00817 (Mar 13, 2020)
- Live market cap: $3,435,133,075
- Circulating supply: 2,609,959,126 FET coins
(2) Past performance
In early February 2023, FET experienced a significant rise. This was influenced by a general market uptick in AI-related tokens following the announcement of several high-profile AI technology advances and partnerships. Additionally, major blockchain platforms began exploring AI functionalities, which led to investor interest in AI-focused projects, driving the FET price up.
FET reached its peak price of approximately $3.45 in March 2024. AI-focused tokens have posted significant gains in 2024 fueled by the emergence of various AI projects and the unprecedented performance of Nvidia’s stock. FET faced price volatility mid-2024, marked by a period of steady decline from its peak. This movement reflects broader market corrections as well as regulatory concerns surrounding AI and digital assets.
In September, FET saw another price increase of about 15%, linked to an upcoming governance vote on a partnership with Cudos, an AI computing platform. The potential alliance with Cudos attracted positive attention, as it could expand FET’s utility and user base, fueling investor optimism for future scalability.
(3) Technical Analysis
- Relative Strength Index (RSI): The RSI is currently hovering near 32, which is close to the oversold region (below 30). While it’s not fully in oversold territory, this suggests that the asset is nearing a point of exhaustion in selling pressure, and a rebound could be expected.
- Moving Averages
- 200 SMA (Yellow): The long-term SMA is still well above the current price. If the price rebounds and closes above this line, it might indicate a potential reversal.
- A death cross: A crossover of the 20 SMA below the 50 SMA may confirm a stronger bearish trend.
- Fibonacci Retracement
- 0.382 Level (~$1.36): The price appears to be hovering near the 0.382 Fibonacci level. This level acts as a resistance for any upward move. For a reversal to take place, the price needs to convincingly break above this level, which would indicate a recovery and potentially further upward momentum.
- 0.618 Level (~$1.12): A breakdown below this level could lead to further declines.
4. Summary
The ASI Alliance challenges big tech dominance by emphasizing open-source solutions and decentralization. ASI Alliance’s focus on AI-driven blockchain solutions taps into two major technology trends: artificial intelligence and decentralization. While the current market trend is bearish, the project’s long-term potential remains strong, especially as AI becomes increasingly critical in different sectors.
Given the current bearish trend, this may not be an ideal time to invest. A entry point would be around $1.25–$1.28, with a target price of $1.50 if the market recovers. If the price falls below $1.12, it would be prudent to exit the position to limit potential losses.
Reference
https://coinmarketcap.com/currencies/artificial-superintelligence-alliance
https://www.superintelligence.io
https://academy.binance.com/en/articles/what-is-the-artificial-superintelligence-asi-alliance