Here’s why this artificial intelligence-related crypto-currency that is hitting record highs after climbing up to 1000%!

A crypto-currency has been the talk of the town in recent weeks. In particular, with an impressive 1,100% price increase since the beginning of 2023, just over a month since its inception.

The coin in question is SingularityNET’s AGIX, which in the first part of this year went from $0.046 to $0.551 per unit, according to data available on CoinMarketCap updated this Tuesday, February 7.

As the YTD (Year To Date) price chart shows, the price of AGIX peaked at $0.59 in the early hours of Tuesday morning, after jumping about 50% in a few hours.

SingularityNET is a platform focused on creating and monetizing artificial intelligence (AI) services. Its creation is not recent, as the price graph can be traced back to 2018.

However, the popularity of AGIX, its governance token, has recently skyrocketed. AI is becoming increasingly important in the world. Image and text creation services such as ChatGPT attract millions of people worldwide.

With the recent price movement, AGIX is back to the peak levels it had in 2021, at the height of a general bull run in the crypto-currency market. But it remains well below its launch price, as it traded at one point above $1.49 per token.

AGIX, the largest of the top 100 crypto-currencies

AGIX currently has a market capitalization of over $1.1 billion. This figure puts the token in 74th place in terms of market capitalization. At the same time, it is the most revalued asset this year in the top 100.

Among the 50 crypto-currencies with the most capital, the biggest winner of the’year has been Aptos, which to date has increased its market value by over 340%.

It has also positioned itself as one of the 10 most traded crypto-currencies in 30 days. AGIX, meanwhile, ranks among the 40 companies with the highest trading volume during that period, exceeding $4 billion.