Several AI-Related Tokens Show Impressive Performance in a Context of a Crypto Market Correction

The crypto token FET has seen a 20% increase over the past 24 hours, with a current price of $1.69. OCEAN also followed a positive trend with a 15% increase

Several artificial intelligence (AI) tokens are defying the broader sell-off trend in the crypto market on Monday, posting impressive gains. Among them, Fetch.ai (FET) and Ocean Protocol (OCEAN) are leading the rally.

At press time, the FET crypto token is seeing a 20% increase over the past 24 hours, with its current price being $1.69. Another crypto token, OCEAN, is also following a positive trend with a 15% increase over 24 hours, and its current price is $0.68.

This rise in AI tokens comes following the announcement of the Artificial Superintelligence Alliance, which includes SingularityNET, Fetch.ai, and Ocean Protocol, that will begin the ASI token merger on July 1. Earlier this month, the crypto alliance had announced that it would be postponing the merger to July 15.

Another mainstream AI token, ARKM, the native token of the Arkham crypto platform, is also seeing a 16% increase over the past 24 hours. At press time, ARKM is trading around $2.

The broader crypto market sell-off after Mt. Gox announcement

The rise in AI tokens comes despite a market correction early Monday after the failing crypto exchange Mt. Gox announced its intention to begin repaying its creditors up to $9 billion in July. Bitcoin’s price fell below $59,000 following this announcement.

At the time of writing, BTC has rebounded to $61,122 and is up nearly 2% over the past 24 hours. Bitcoin’s sell-off pressure is easing, and the market seems to be recovering from the Mt. Gox news.

These developments highlight the growing interest in AI technologies in the crypto sector, but also the investor confidence in the potential of these tokens despite the market turbulence.