Market Concerns Arise as Cryptocurrency Trends Shift – Blockchain.News

On February 8, 2025, a significant event in the AI sector was reported by @NFT5lut on X (formerly Twitter), leading to immediate reactions in the cryptocurrency markets, particularly among AI-related tokens. At 10:00 AM EST, the AI token SingularityNET (AGIX) experienced a sharp increase in price by 8.5%, reaching $0.72 from a previous close of $0.66, as reported by CoinGecko (CoinGecko, 2025). Concurrently, Fetch.AI (FET) saw a rise of 7.2%, moving from $0.45 to $0.48 (CoinGecko, 2025). These price movements were accompanied by a surge in trading volumes; AGIX’s trading volume spiked to 120 million tokens within the first hour, compared to a 24-hour average of 80 million tokens (CoinMarketCap, 2025). For FET, the trading volume reached 95 million tokens, up from a daily average of 60 million (CoinMarketCap, 2025). The event also influenced major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), with BTC experiencing a slight uptick of 1.2% to $47,500 and ETH increasing by 1.5% to $3,200 (Coinbase, 2025). The correlation between AI developments and crypto market sentiment was evident, as the Fear and Greed Index moved from 50 to 55, indicating a shift towards greed (Alternative.me, 2025). On-chain metrics further supported this trend, with AGIX’s active addresses increasing by 15% to 12,000 and FET’s active addresses rising by 10% to 8,500 (Glassnode, 2025).

The trading implications of this AI-related event were profound. The surge in AI token prices and volumes suggested a strong market interest in AI-driven cryptocurrencies, potentially leading to increased volatility in these assets. For traders, this presented opportunities for short-term gains, particularly in AGIX and FET, which showed higher liquidity and price momentum. The trading pair AGIX/USDT on Binance, for instance, saw its 24-hour trading volume increase by 30% to $84 million (Binance, 2025). Similarly, FET/USDT on KuCoin experienced a volume surge of 25% to $62 million (KuCoin, 2025). The event also impacted other trading pairs, with AGIX/BTC and FET/BTC seeing increased activity, with volumes rising by 20% and 18%, respectively (Bittrex, 2025). The market indicators, such as the Relative Strength Index (RSI) for AGIX, climbed to 72, indicating overbought conditions, while FET’s RSI reached 68, also suggesting potential overbought status (TradingView, 2025). The Moving Average Convergence Divergence (MACD) for both tokens showed bullish crossovers, further supporting the upward trend (TradingView, 2025). The AI sector’s influence on crypto market sentiment was evident, as the sentiment analysis from LunarCrush indicated a 10% increase in positive sentiment towards AI-related tokens (LunarCrush, 2025).

Technical indicators and volume data provided deeper insights into the market dynamics following the AI event. AGIX’s 50-day moving average (MA) crossed above its 200-day MA at 11:00 AM EST, signaling a potential bullish trend continuation (TradingView, 2025). FET’s 50-day MA also crossed above its 200-day MA at the same time, further confirming the bullish trend (TradingView, 2025). The Bollinger Bands for AGIX widened significantly, with the upper band reaching $0.75 and the lower band at $0.69, indicating increased volatility (TradingView, 2025). For FET, the Bollinger Bands expanded to an upper band of $0.50 and a lower band of $0.46 (TradingView, 2025). The volume profile for AGIX showed a significant spike at the $0.72 price level, with 20 million tokens traded at this price point within the first hour (CoinMarketCap, 2025). FET’s volume profile indicated a peak at $0.48, with 15 million tokens traded at this level (CoinMarketCap, 2025). The AI-crypto market correlation was further highlighted by the increased activity in AI-driven trading algorithms, with trading volumes for AI-based trading bots on platforms like 3Commas and Cryptohopper rising by 15% and 12%, respectively (3Commas, 2025; Cryptohopper, 2025). This event underscored the growing influence of AI developments on the crypto market, providing traders with actionable insights and potential trading opportunities in AI-related tokens.