Alert: ASI Users Notified as Phase 1 Token Migration Begins, Read On

Fetch AI has kicked off the initial stage of the ASI token migration, merging AGIX and OCEAN into FET. Users are being informed as exchanges start removing tokens and impacting balances temporarily. The official commencement of the ASI token merger is now in progress, prompting a notification to users about the ongoing token migrations. Exchanges are starting to delist AGIX and OCEAN tokens as part of this shift, potentially causing brief disruptions to user balances. 

This process entails transforming AGIX from SingularityNET and OCEAN from Ocean Protocol into FET from Fetch AI. Fetch AI has reassured FET holders that no immediate action is required during this network upgrade, as everything is being handled automatically.

Transition Information and Trade Transactions

Key Points: The initiation of Phase 1 for the migration of ASI tokens by Fetch AI, involving the conversion of AGIX and OCEAN to FET.

Fetch AI has initiated the first phase of its ASI token merger today, focusing on integrating exchanges and data aggregators for a seamless transition. The company stresses that there is no need to rush, as the primary objective is to establish the foundation for rebranding. This phase involves merging SingularityNET's AGIX and Ocean Protocol's OCEAN tokens into Fetch AI's FET token.

Progress has been made in the migration process, with significant amounts of AGIX and OCEAN already converted to FET. Holders and stakers on Fetch AI's mainnet will have their assets automatically converted to ASI during the network upgrade, marking a major milestone in the blockchain ecosystem development. Exchanges have started delisting AGIX and OCEAN tokens in response to this migration effort.

During the transition period, users might observe temporary fluctuations in their account balances. Fetch AI is collaborating closely with its partners to facilitate a seamless migration process. Following the transition, user balances will be displayed as FET. Despite these modifications, trading of FET remains active without any disruptions on supported exchanges. 

Additionally, the rebranding initiative has commenced, involving adjustments to project titles and logos along with the discontinuation of AGIX and OCEAN deposits.

Market Performance of the Artificial Superintelligence Alliance (FET)

In the most recent data, Artificial Superintelligence Alliance (FET) is priced at $1.40, boasting a substantial 24-hour trading volume of $193.2 million. The open interest in FET has surged by 4.69% in the last day to reach $48.1 million, indicating a strong probability of increased interest due to the migration process underway.

Despite the increasing attention from investors, FET has seen a drop in price by 0.94% in the last day and a 4.17% decrease over the week. The Artificial Superintelligence Alliance, with a circulating supply of 2.5 billion FET, now boasts a market capitalization of $3.5 billion.