Monat: Februar 2023

• SingularityNET blockchain allows users to monetize AI services.
• AI has gained popularity recently after the launch of ChatGPT.
• AGIX token has been on a very bullish trend since the turn of the year.

The price of SingularityNET (AGIX) has risen by over 774% over the past month and the bull trend seems to be gaining momentum with every passing day. Today, the coin had risen by about 40.13% to trade at $0.4579.

It is true the crypto market has been in recovery mode since the beginning of the year, but that is not the only reason why the price of the AGIX token has risen by more than 774%. There are other factors contributing to the price surge.

What is SingularityNET?

Before delving into why the price of SingularityNET is rising, it is important to briefly explain what it is.

SingularityNET is a blockchain-powered platform that allows users to create, share, and monetize artificial intelligence (AI) services. AI developers can sell their AI tools and libraries while those interested in AI services can test and buy any AI service uploaded on the SingularityNET AI marketplace.

In addition, if a user wants a customized AI service, they can tap the extensive SingularityNET community of AI specialists via the Request for AI portal (RFAI).

Users use the platform’s native token, AGIX, to purchase the AI services. This means that developers earn AGIX tokens by selling their AI services or filling the RFAI requests.

AGIX holders can also vote on changes to the SingularityNET network operations and also stake their tokens to earn some interest.

Why is the price of AGIX on the rise?

The news around the now popular artificial intelligence tool ChatGPT has triggered a surge in AI-focused cryptocurrencies, one of them being the AGIX.

The current AGIX Bull Run started on Tuesday after Microsoft announced plans to invest $10 billion in OpenAI, the startup behind ChatGPT. The coin shot up by a whopping 18% immediately after the news and has since maintained the bullish trend.

Besides its price, AGIX trading volume has also witnessed a huge surge as people flock to the AI market.

SingularityNET recently released a joint venture called Awakening Health in collaboration with Hanson Robotics. The venture develops healthcare products leveraging AI.

The post SingularityNET price: here’s why AGIX price is up 40% today appeared first on CoinJournal.

• Charlie Munger reiterates his view on cryptocurrencies.
• He lauds China for executing a full ban on cryptocurrencies.
• Cryptocurrencies are having a fantastic start to the new year.

U.S. government should push ahead with an absolute ban on cryptocurrencies, says Charlie Munger – the Vice Chairman of Berkshire Hathaway.

Munger says cryptocurrencies have no real value

Munger has been against cryptocurrencies for the longest time and associates no real value to these assets as they are intangible and unproductive. Reiterating his view in a recent op-ed in the Wall Street Journal, he said:

Crypto is not a currency, commodity, or security. It’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity.

Nonetheless, the crypto market seems to be having a fantastic start to the new year with Bitcoin currently up nearly 40% since the start of 2023.

U.S. should learn from the example of China

The influential investor lauded China for recently announcing a strict ban on crypto-related services and urged the United States to learn from its example.

He quoted the ban that England imposed in the early 1700s on all public trading in new common stocks for about a whole century as a precedence as well.

In some cases, a big block of cryptocurrency has been sold to a promotor for almost nothing, after which the public buys in at much higher prices without fully understanding the predilution in favour of the promoter.

It is also noteworthy that his business partner and one of the world’s richest men alive, Warren Buffet, shares his view on the cryptocurrencies as well.

The post Charlie Munger wants the U.S. to ban cryptocurrencies appeared first on CoinJournal.