- As of the first day of July the ASI merger will include OCEAN, AGIX and FET.
- The price of OCEAN & FET dropped significantly.
The 26th June is a day of celebration. Fetch.ai [FET] ASI has announced its merger with Ocean Protocol [OCEAN] You can also find out more about the following: SingularityNET [AGIX]. The two-phased process begins on the first of July.
ASI merger unites AI tokens
This merger will be carried out in phases. In the first phase that begins on 1st July, AGIX, OCEAN and FET tokens are merged together.
The initial ASI integration lays the foundation for a broader adoption across the entire cryptocurrency ecosystem.
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Crypto exchanges like Binance [BNB] Data aggregators such as CoinMarketCap or CoinGecko are crucial in reflecting the token merger.
ASI will be replacing AGIX, OCEAN and other tokens. These tokens are no longer available for users to deposit, only FET will remain active.
The main focus of this phase is to integrate exchanges and platforms for data into the ASI’s new identity.
For the merger, conversion rates were set. The conversion rates for the merger have been set.
The second phase, which is expected to begin around the middle of July, will be devoted to expanding ASI’s reach. It will also involve deploying ASI on multiple blockchain networks and integrating the wider crypto-community.
It is expected that the ASI token merge will have a positive impact on all of crypto, especially tokens focused on AI. Some potential roadblocks do exist.
Coinbase forges its own path
Coinbase, one of the largest cryptocurrency exchanges, decided not to allow its users an automatic token transfer.
Coinbase continues to support OCEAN/FET trading, but users must perform their own migration through self-custody Wallets.
Other exchanges will still handle conversion.
Despite that, Coinbase still allows trading of OCEAN or FET, and will facilitate migrations to self-custodial, continuing its involvement with the merger.
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Several exchanges have also confirmed their support, such as Bitfinex (HTX), Bitget (Binance), and KuCoin.
Here are some realistic or non-realistic examples. FET’s market cap in BTC’s terms
They will stop trading the tokens affected (AGIX, OCEAN and OCEAN-X) around July 1 or 2. Then they will convert the tokens to FET prior to the transition.
FET had dropped 4% by the time of press in the past 24 hours. OCEAN’s price fell by 5.07% over the same period.
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Source: ambcrypto.com
