Binance is set to launch trading of the Artificial Superintelligence (ASI) token on July 5, ahead of the merger of Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) scheduled for July 15. This move marks a significant step in the evolution of AI cryptocurrencies.

The Artificial Superintelligence Alliance plans for a seamless integration of these AI-focused cryptocurrencies on July 5. Binance's decision to support the upcoming ASI token, a product of merging FET, OCEAN, and AGIX, has gained notable traction as the exchange decides to list the token ahead of the merger completion.

Binance To Launch ASI Token Trading

Binance's announcement has provided a detailed update on managing the technicalities of this merger. The exchange will suspend deposits and withdrawals of FET, OCEAN, and AGIX starting July 1, handling all technical requirements to ensure a smooth transition to the ASI token for its users.

The trading pairs for FET, OCEAN, and AGIX will be delisted, and all associated orders will be automatically removed. The conversion ratios for the tokens are set:

1 FET will be equivalent to 1 ASI.

1 OCEAN will convert to 0.433226 ASI.

1 AGIX will convert to 0.433350 ASI.

These ratios reflect the current valuations and the strategic alignment within the Artificial Superintelligence Alliance. After the merger, Binance will reopen deposits and withdrawals for ASI, effectively phasing out the original tokens from the platform.

ASI Token Trading and Market Outlook

The ASI token will be available for trading against multiple pairs including BNB, BTC, BRL, FDUSD, TRY, USDC, and USDT from July 5 on Binance. This diverse range of pairs is designed to provide traders with multiple options to leverage the new token in various market scenarios.

In addition, Binance has planned to delist and settle all futures contracts related to FET, OCEAN, and AGIX by June 25, a move aimed at mitigating risks during the transition phase. For margin traders, the crypto exchange will delist the relevant cross and isolated margin pairs for FET, OCEAN, and AGIX by June 26.

The merger and introduction of ASI reflect a broader trend in the cryptocurrency industry toward consolidation and technological integration. By aligning FET, OCEAN, and AGIX under a unified ASI token, the Artificial Superintelligence Alliance aims to enhance the functionality and marketability of AI coins.

Market Trends

Talking about the prices of these cryptos, FET price was down 2.39% and exchanged hands at $1.60, with OCEAN price falling 2.87% to $0.6793. Over the last seven days, both these tokens have lost 21.30 and 22.31%, respectively. AGIX price also fell 2.44% in the last 24 hours, with its trading volume dropping 14% to $76.16 million.