Crypto Whale Strikes $7.5M in AGIX and OCEAN to FET Amid ASI Merger

• The ASI token merger has began, consolidating AGIX and OCEAN tokens into FET within the first part.
• A big whale transaction transformed $7.5 million of AGIX and OCEAN into FET.
• Some exchanges delisted AGIX and OCEAN, whereas Coinbase presents a handbook migration choice for customers.

The Synthetic Superintelligence Alliance (ASI) has initiated its bold $7.5 billion token merger, commencing with the consolidation of SingularityNET (AGIX) and Ocean Protocol (OCEAN) tokens into Fetch.ai’s FET token.

This preliminary part has already been confirmed by way of on-chain exercise, signaling a serious shift within the AI cryptocurrency panorama.

The Synthetic Superintelligence Alliance (ASI) has initiated its extremely anticipated token merger, beginning with the consolidation of two AI token tasks: SingularityNET (AGIX) and Ocean Protocol (OCEAN). 

In accordance with a submit on X by analytics platform Scopescan, a big whale transaction occurred, the place 8 million AGIX tokens and 4.8 million OCEAN cash have been transformed into 5.6 million FET price $7.5 million. The ensuing FET tokens have been then deposited into the Bitget change.

Notably, this consolidation was initially scheduled for June 13 however was delayed till July 15 to permit adequate time to handle the technical necessities of exchanges, validators, and different ecosystem companions. The preliminary phases at the moment are underway.

The current improvement, the place AGIX and OCEAN tokens merged into the FET token, has led to the widespread delisting of the unique tokens from cryptocurrency exchanges.

Nonetheless, not all exchanges have chosen to assist the merger for his or her customers. Notably, U.S.-based Coinbase is amongst these opting to not implement an computerized conversion mechanism for customers’ token holdings.

In a earlier replace, Coinbase introduced that FET and OCEAN buying and selling will proceed on their platform till additional discover. Customers who want to manually migrate their holdings to FET can make the most of a workaround.

Knowledge aggregators and exchanges can facilitate the ASI token migration by way of SingularityDAO, a newly launched migration platform. Within the first part, AGIX tokens will likely be exchanged for FET at a fee of 1 AGIX to 0.43335 FET. Within the subsequent part, FET tokens will convert into ASI and launch throughout a number of blockchain networks.