Elon Musk’s AI Plans Spark Price Surge in This Cryptocurrency
The value of a cryptocurrency project, which is centered on developing artificial general intelligence (AGI) technology, experienced a surge in response to rumors about Elon Musk.
There has been a surge in the value of SingularityNET (AGIX), a cryptocurrency project that aims to develop artificial general intelligence (AGI) technology. This followed rumors that Elon Musk was planning to create a new version of ChatGPT focusing on AGI.
Musk expressed his concern over the potential dangers of AGI on Twitter. The following day, a report by The Information claimed that Musk had approached AI researchers to form a new research lab with the aim of creating a new version of ChatGPT.
It was reported that Musk had been recruiting AI researcher Igor Babuschkin, who had previously worked at DeepMind, an AI company acquired by Google’s parent company, Alphabet.
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SingularityNET, which is a blockchain-based marketplace for AI services, rallied strongly amid the rumors, gaining nearly 40% in value in under two days.
The project aims to create an ecosystem of projects that will drive growth and token utilization in areas such as decentralized finance, robotics, biotech, gaming, media, and enterprise-level AI.
At the time of writing, AGIX is up 12% in the last 24 hours, trading at $0.49 with a market capitalization of $580,958,350.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
