Crypto Whale Swaps 3.43M LDO for 7.28M AGIX and 2,824 ETH

Blockchain tracking firm Loockonchain has identified a whale transaction that swapped Lido ($LDO) tokens for SingularityNET (AGIX) on the Binance exchange. The firm tweeted that the whale transferred 3.43 million $LDO, equivalent to $8.2 million, to Binance.

In exchange for the transferred $LDO, the whale received 7.28 million AGIX, equivalent to $3.6 million, and 2,824 $ETH worth $4.66 million. The whale reportedly added AGIX liquidity to Uniswap afterward.

AGIX is among the altcoins that have recently generated significant interest in the crypto market and is #22 on Trending Cryptocurrencies on Coinmarketcap. The influx of funds into the SingularityNET project has seen its native token, AGIX, rise by over 33% in the past week, based on data from CoinmarketCap.

According to analysts, AGIX is among the highest beneficiaries of the rising interest in Artificial Intelligence (AI) championed by OpenAI’s ChatGPT. The native token of SingularityNET, AGIX, allows users to vote on the SingularityNET network, which provides a marketplace where users can create, share, and monetize AI services. It also gives users the opportunity to vest their token in staking sessions, with the chance to earn interests.

The advent of ChatGPT has generated momentum among AI-based crypto tokens, most of which have followed a trend similar to that of AGIX. Users project this momentum to sustain, giving speculators more reasons to remain invested in the tokens.

AGIX traded at $0.4986 as of the time of writing and already gained 10.57% within the trading day. It has resumed an upward movement after recovering from a setback the day before, which saw the price drop to $0.4123.

Lookonchain’s report did not offer much detail. However, some crypto users believe this could be a suitable time to buy AGIX, as one of Lookonchain’s respondents suggested.