Coinbase Does Not Support ASI Merger

Bittime - Coinbase has decided not to facilitate the upcoming migration of SingularityNET, Fetch.ai, and Ocean Protocol AI tokens to the new cryptocurrency, Artificial Superintelligence Alliance (ASI).

ASI Merger Process

The ASI token merger involves SingularityNET, Fetch.ai, and Ocean Protocol implementing a two-phase migration process starting July 1. The first phase of this process will see the migration of SingularityNET's AGIX token and Ocean Protocol's OCEAN token into Fetch.ai's FET token.

Furthermore, the merged FET token will transition into a new cryptocurrency, Artificial Superintelligence Alliance (ASI), at the end of the month.

Coinbase Decision

On Wednesday, a post on the Coinbase Assets X account stated, "Ocean (OCEAN) and Fetch.ai (FET) have announced a merger to form the Artificial Superintelligence Alliance (ASI). Coinbase will not be executing the migration of these assets on behalf of users."

Alternative Solution

Coinbase provides an alternative solution, stating that once the migration begins, users can migrate their OCEAN and FET to ASI using a standalone wallet, such as Coinbase Wallet. "The ASI token merger will be compatible with all major software wallets," added the Coinbase Assets

AI Token Merger Background

In March, Fetch.ai, SingularityNET, and Ocean Protocol, entered a deal to combine their tokens to create a combined Artificial Superintelligence Alliance (ASI) cryptocurrency. The aim behind this merger is to create the largest and independent open-source player in AI research and development.

The teams say that the rationale for this move is to capitalize on the rise of AI and the growth of the three AI projects, create decentralized infrastructure at scale, and accelerate investment into AI.

Decrease in Token Value

Despite these developments, the project's existing tokens saw a decline in the last 24 hours, with Fetch.ai (FET) down 7.3% and SingularityNET (AGIX) down 6.9%. Ocean Protocol's token, OCEAN, also saw a drop in value, dropping more than 7%, according to The Block's pricing page.

Conclusion

While Coinbase will not facilitate token migration for the ASI merger, users still have the option to migrate their tokens independently.

This token merger aims to create a powerful entity in the world of AI research and development, which has the potential to bring significant changes in the decentralized AI ecosystem.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.