• A debt ceiling agreement has been reached, but a vote is still needed.
• Crypto AI tokens are rising strongly as investors look for ways to hedge their risk in light of the uncertainty.
• Certain AI tokens have seen substantial gains, with Ocean (OCEAN), SingularityNET (AGIX) and Matrix.ai (MAN) all making strong moves to the upside.
Debt Ceiling Agreement Reached
Amid mutterings of discontent on both sides of the aisle, a debt ceiling agreement appears to have been reached that needs to be voted on by June 6th or else a US government default will occur for the first time in history.
Crypto Assets as Hedge
Investors are looking towards crypto assets as a way to diversify and hedge their risks amidst the uncertainty surrounding the debt ceiling deal. Bitcoin and Ethereum remain strong while other projects such as AI-based tokens are also making great strides today.
AI Tokens Make Strong Moves
Ocean (OCEAN), SingularityNET (AGIX), and Matrix.ai (MAN) have seen some of the biggest gains in recent hours, with MAN surging more than 30% just within two hours alone. These tokens continue to form flag patterns at upper trendlines which could indicate further upside potentials if they manage to break through them successfully.
Overall Crypto Market Still Flat
Despite these individual successes, overall it can be said that the crypto market remains relatively flat after its rally from early 2021, indicating that investors may be cautiously waiting before diving back into this asset class en masse again soon.
This article should not be taken as investment advice or legal advice; it is merely provided for informational purposes only