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Main crypto events of this week

Three AI tokens will begin merging into one cryptocurrency, Ripple will hold a global summit, the US Federal Reserve will make a new decision on the key interest rate – we are talking about the main events of this week.

Token unlocks – from June 11

The beginning of the week again pleases investors with a new portion of major unlocks, which the community always awaits with great interest.

The most notable will be the unlocking of more than 92.5 million Arbitrum (ARB) tokens.

Launch of the ASI token – from June 11 to 13

Today the long-awaited merger will begin three AI tokens – Fetch.ai (FET), Ocean Protocol (OCEAN) and SingularityNET (AGIX). They will unite into a single token called the Artificial Superintelligence Alliance (ASI).

So, the whole process starts on June 11 and ends on June 13. After this, the three tokens will no longer exist separately. Their owners will be able to exchange their assets for ASI until June 13. Exchange will be made at the following rates:

  • FET in 1:1 ratio
  • AGIX in the ratio 1:0.433350
  • OCEAN in the ratio 1:0.433226

Earlier in April, these three large blockchain projects focused on artificial intelligence first began thinking about merging their tokens into one. The goal of such an initiative is to develop decentralized AI protocols based on the blockchain that cannot be controlled by centralized parties.

The diluted valuation of ASI, which will include AGIX, FET and OCEAN tokens, is expected to be $7.5 billion.

At the same time, the three protocols will continue to work autonomously from each other. Only general leadership will unite them.

XRP Ledger Apex Summit – June 11 to 13

This week, from Tuesday to Thursday, in Amsterdam will pass global community summit, which will be held by the fintech startup Ripple.

Official website XRP Ledger Apex Summit.

More than 700 visitors are expected to attend this year’s event. At the same time, on summit 70+ speakers will speak, including representatives of business and fintech startups, developers, ordinary users and many others.

The Ripple team offers everyone register in whitelist. A visit will cost $200.

Fed rate decision – June 12

Today will take place next meeting of the US Federal Reserve on the key interest rate.

Currently the rate is at 5.50%. The regulator has kept it in this range for almost a year – since July 2023. This time the Fed is unlikely to reduce it, since inflation in the United States remains steadily high.

From the Fed’s point of view, maintaining interest rates at a high level will not allow investors to switch their attention to high-risk assets, such as cryptocurrency.

conclusions

This week we will see several important events at once: token unlocks and the merger of three AI tokens into a single asset. All of them are capable of lifting the mood of the crypto market.

Additionally, many cryptans are hoping to hear major announcements or publicity about Ripple’s future plans at the upcoming XRP Ledger Apex Summit. Good news will have a beneficial effect on the dynamics of the XRP token.

In addition, traders and investors should take a closer look at the US market for a possible outbreak of volatility in light of the interest rate decision.


Source: Cryptocurrency

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