DeFi Tokens Take the Spotlight from AI Tokens, Santiment Reports

Santiment, a crypto analytics company, has drawn attention to a rising altcoin in its statement. The altcoin is SingularityNET (AGIX), a network that facilitates the creation and sharing of artificial intelligence (AI) tools. AGIX has increased by 78% in the past week, reaching a new all-time high of 0.75 USD.

According to an analysis shared by Santiment’s analysts, the popularity of AI tokens, which have been frequently mentioned recently, seems to be overshadowed by DeFi tokens. DeFi, or decentralized finance, refers to the ecosystem of crypto assets that enable users to lend, borrow, or exchange crypto without a central authority.

DeFi tokens such as UNI, COMP, SUSHI, and AAVE all spiked in value following a key Uniswap proposal to reward staked and delegated token holders. Uniswap (UNI) is one of the largest decentralized exchanges, and it recently changed its fee management policy. According to the proposal by Uniswap’s governance, a portion of the transaction fees on the platform will be distributed to UNI holders.

Source: Santiment

After yesterday’s development, UNI, which was previously traded at around 7 USD, increased by more than 50% and was traded at 11 USD at the time of writing.

Santiment’s analysts stated that this initiative by UNI also benefited other DeFi tokens, such as COMP, SUSHI, and AAVE, which profited from the situation.

However, Santiment’s analysts also highlighted another altcoin that increased by 80% in the past week. SingularityNET (AGIX), which was traded at 0.42 USD at the beginning of the week, is trading at 0.765 USD at the time of writing.

According to Santiment’s analysts, AGIX is experiencing a strong increase in on-chain activity after nearly doubling its market capitalization. The AGIX network, which mediates the creation and sharing of artificial intelligence tools, reached an all-time high of 93,600 empty wallets. However, the whale transactions of this altcoin and the on-chain volume over 1 million USD also recorded a sudden increase.

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