SingularityNET [AGIX] experiences this move with $50M token transaction

ambcrypto.com:

SingularityNET (AGIX) recently experienced a significant movement that had been absent for more than a year. Given the recent surge in the price, could a move like this have an even more significant influence on the asset?

Read SingularityNET (AGIX) Price Prediction 2023-24

Data from Santiment indicated that on 22 March, 100 million SingularityNET (AGIX) token transactions were processed. One of the most prominent known exchange addresses sent almost a fourth of all AGIX to another address in the transaction.

The transaction was the largest on the network in 14 months, valued at nearly $50 million.

Source: Santiment

SingularityNET is an open-source platform that aims to launch a worldwide marketplace for AI services. The blockchain technology that the platform is based on makes it possible for AI agents and users to trade information and services in an open and trustable manner. The AGIX token, the system’s native currency, can be used for various purposes.

According to data from CoinMarketCap, there was currently 1.2 billion (approximately) SingularityNET (AGIX) in circulation, with a maximum supply of 2 billion. The market cap had declined by close to 1% in the last 24 hours, yet trading volume had increased by over 70% in the same timeframe.

SingularityNET (AGIX) began its rise on 1 February, according to a look at it on a daily timeframe. The price had climbed by roughly 188% from when the upswing started to the present moment.

Although the price movement showed significant volatility, it held its position higher than where the uptrend started.

Source: TradingView

Over the previous two days, its price had risen steadily, increasing by nearly 6%. As of this writing, it was trading at $0.48, with an upward trend above