This year has been a tough sail for SingularityNET since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of AGIX.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for SingularityNET to reclaim its all-time high in 2023? Continue with the article to learn about SingularityNET price analysis and prediction by Coinpaper.
Read also: AI tokens: can they live up to the hype?
What is SingularityNET?
SingularityNET is a blockchain-based open-source marketplace for AI tools and services where anyone can browse, buy, and sell a robust suite of AI products using the platform’s native token, AGIX. Moreover, the platform allows users to trade learning models, datasets, and other tools necessary for training AI. The team behind SingularityNET also pioneered the development of SophiaVerse, an NFT-based game and marketplace, where players have to give rise to an artificial sentience called Sophia.
SingularityNET (AGIX) price
Currently, SingularityNET Price is USD. AGIX has a circulating supply of coins and a total supply of . If you are looking to buy or sell SingularityNET, Gate.io is currently the most active exchange.
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SingularityNET price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish SingularityNET 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see SingularityNET price at $0.81 to $0.93. On the flip side, a fading interest in the new meme coin may push the price of SingularityNET to $0.39-$0.17 lows.
SingularityNET price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to SingularityNET (AGIX) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of SingularityNET to climb as high as $1.11, with the more distant prospect of reaching $1.28 in 2024. The bearish scenario is likely to see SingularityNET (AGIX) trading between $0.63 and $0.52 in 2024.
SingularityNET price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our SingularityNET (AGIX) price analysis and prediction is based on pure speculation and observation of SingularityNET historical price movements.
Our SingularityNET 2025 price forecast expects AGIX to rally towards $1.87 and reach $2.19 by the end of the year. The bearish scenario would see SingularityNET at $1.27 to $0.94.
SingularityNET (AGIX) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for SingularityNET is neutral. In 2026, we expect SingularityNET to reach at least $2.88 before climbing higher to $3.73. In case of a bearish scenario, SingularityNET may fall to $2.03.
Is SingularityNET (AGIX) a good investment?
SingularityNET latest gains has been largely driven by the market appetite for AI in the crypto industry, but for now, it’s unclear whether the project will retain its hype and secure a steady growth. Until the dust settles, AGIX token can be only viewed as a highly speculative investment that should represent a tiny fraction of your portfolio if you decide to give it a shot. Remember that past performance is no guarantee of future results, and always do your own research before investing in any cryptocurrency.
Bottom line
Are you ready to invest in SingularityNET? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy AGIX from many crypto exchanges, including Gate.io
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created SingularityNET?
SingularityNET was founded by Dr. Ben Goertzel, an established figure in the AI and vice chairman for Humanity+, together with Simone Giacomelli and Dr. David Hanson, who are both veteran entrepreneurs with experience in crypto and robotics.
What was the all-time high for SingularityNET (AGIX) ?
The all-time high price of SingularityNET is $ on 2018-01-28
