SingularityNET (AGIX) Shows No Signs Of Stopping, As AI Crypto Blows Up 923%

Christian Encila

1 year ago

3 mins read

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The interest in artificial intelligence (AI) applications has been on the rise as the use of various platforms, such as SingularityNET and OpenAI’s text-based tool ChatGPT, has become more widespread.

AGIX, SingularityNET’s native token, has seen a strong ascent in price since January, showing investors a whopping 923% increase in the monthly time frame, according to Coingecko data.

AI is slowly becoming a household name because of its massive potential. As tech giants like Google pour huge amounts of money into the research and development of artificial intelligence, the space is expected to grow by nearly 40% by 2030.

AI At The Helm of SingularityNET’s Growth

SingularityNET’s Twitter account recently announced their intention to create a MeTTa-based DSL, or domain specific language. This could be a collaboration with Cardano, with SingularityNET mentioning Cardano’s programming language Haskell.

According to the tweet, the creation of DSLs is a must to address the scalability problem of DeFi.

🧵 Enabling real-world use cases at scale on the #SingularityNET platform via creating a MeTTa-based DSLs focused on smart contract programming in specific industry verticals.#BuildingOnSNET #AI #Cardano pic.twitter.com/SoB7V8SAw4

— SingularityNET (@SingularityNET) February 7, 2023

“This illustrates the need for a framework that can remove these impediments and enables updating and modifications of DSLs within a highly flexible language like MeTTa (Meta Type Talk) AGI programming language,” SingularityNET said.

Cardano’s Marlowe DSL pioneered the use of a domain specific language. However, OpenCog’s MeTTa AGI language would improve upon the concept, bringing scalability closer to developers in a more effective manner.

AGIX At $0.5558 – Can The Token Continue Its Climb?

The token is currently riding a rocket at its current price of $0.5558 with a support at $0.42899 and $0.17532. At the time of writing, AGIX has currently hit a ceiling at $0.59998 which may revert towards its current support at $0.42899.

With the token hitting a price ceiling, the continuous climb of AGIX might be hindered in the short to medium term. If the current resistance holds, investors and traders might see the token drop towards $0.17532 support which could support a bearish decline.

Investors and traders should still exercise caution as the token reaches its peak as could mean a sharp decline in price. But with AGIX’s support at $0.17532, the token might be able to target higher highs in the long term.

Crypto total market cap at $1 trillion on the daily chart | Chart: TradingView.com

With the possibility of short to medium term pain, AGIX bulls should be focused on consolidating above $0.42899 price support range which would create a zone of safety for investors and traders.

SingularityNET’s decision to use MeTTa to create a DSL would bring attention to the network which will boost the token’s price in the long term.

Investors and traders should still be bullish on the long term as SingularityNET’s development continues.

Featured image from Bitnovo Blog

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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