Lookonchain, which provides reports on major cryptocurrency transfers from Twitter, says several whales have sold large quantities of Fetch.ai (FET) and switched to AI Coin, which Elon Musk featured in his latest tweet.
Whales migrate from Fetch.ai (FET) under Elon Musk influence
cryptocoin.com As Elon Musk, we have included AI Coin, which has risen over 30% on March 15, in this article. Current on-chain data shows that whales transferred a large amount of FET tokens during the rally with AGIX, which rally under the influence of Elon Musk.
According to the transaction records, whale, which bought 14.26 million FETs at $0.45 between February 27 and March 11, sold 3.01 million FETs at $0.39 and made a loss of $188 thousand in this position. Whale then decided to trade a large amount of FET tokens to take advantage of the opportunities in AGIX, which rally yesterday.
Another whale also swapped the $FET position to $AGIX yesterday.
The whale bought 14.26M $FET ($6.41) at ~$0.45 between Feb 27 and Mar 11, and sold 3.01M $FET ($1.16M) at ~$0.39, lost ~$188K.
On Mar 15, he swapped all the remaining 11.24M $FET ($4.81M) for 9.12M $AGIX ($4.5M). pic.twitter.com/EqpPyhLrMN
— Lookonchain (@lookonchain) March 16, 2023
Transaction records show the whale traded the remaining 11.24 million FETs ($4.81 million) for 9.12 million AGIX ($4.5 million) on March 15, after selling 3.01 million FETs at a loss. is showing. The whale probably attracted $4.5 million worth of AGIX to its wallet at an average price of 0.45. AGIX is currently rising over 5% independent of the market overall. Its current price is around 0.5 dollars.
Another whale invests $8.2 million in AGIX
Lookonchain reported in a second tweet that another whale moved a large amount of Lido (LDO) positions to AGIX. This whale transferred 3.43 million LDOs worth $8.2 million to Binance, then purchased 7.28 million units of AGIX for $3.6 million and 2,824 for $4.66 million from Binance.
A whale swapped $LDO position to $AGIX today.
The whale transferred all 3.43M $LDO ($8.2M) to #Binance, then received 7.28M $AGIX ($3.6M) and 2,824 $ETH($4.66M) from #Binance.
And the whale added $AGIX liquidity on #Uniswap.https://t.co/XhhYi2uhgO pic.twitter.com/jY4WGRAdHH
— Lookonchain (@lookonchain) March 16, 2023
Why are whales switching to SingularityNET (AGIX)?
SingularityNET leverages Blockchain technology to create a decentralized AI marketplace with a long-term vision of open source Artificial General Intelligence (AGI). AGI, the vision for what AI will be like in the future, can be used to solve any problem. It is the improved version of the current narrow AI that can only solve a single problem.
AGIX, the native token of the platform, has been at the forefront of the AI Coin bull since January. It has gained nearly 1000% in value since the beginning of the year. With the tweet of Elon Musk on March 15, it increased by 30% and became one of the trend coins on monitoring platforms such as CMC and Coinecko. It seems that whales want to capitalize on this acceleration.
SingularityNET uses Ethereum to host two smart contracts critical to the network’s operations. One is ledger, an ERC-165 compliant decentralized database where AI service providers sign up and provide key details of their products such as pricing information and endpoint locations for users to search about their services. As an artificial intelligence project, SingularityNET ranks 75th in terms of market value.
