Crypto AI Tokens Soar as Debt Ceiling Deal Still Pending

• The US Congress is due to vote on a debt ceiling agreement by June 6.
• Crypto assets are being used as a hedge during the uncertainty of this situation.
• Some AI tokens have been making strong gains in recent hours, with Matrix (MAN), Ocean (OCEAN) and SingularityNET (AGIX) leading the way.

Debt Ceiling Agreement

The US Congress is due to vote on a debt ceiling agreement by June 6. This deal has met with some discontent from both sides, with Republican lawmaker Chip Roy tweeting that they „haven’t been educated yet on what a t*rd-sandwich this ‚deal‘ is“. Should they fail to pass the deal, it could result in the US government defaulting for the first time in history.

Crypto Assets as a Hedge

As investors look for ways to diversify and hedge their risk, crypto assets are becoming increasingly attractive. Bitcoin and Ethereum appear relatively unaffected by the current situation, while other tokens such as those related to artificial intelligence are making strong moves higher.

AI Tokens Making Gains

Ocean (OCEAN) has seen its price rise 14% from $0.34 to $0.39 today and looks to be forming a flag at the upper limit of its trendline since early February. SingularityNET (AGIX) has also made considerable gains of 13%, while Matrix (MAN) stands out with over 30% increases in just two hours – taking its price close to $0.32 before returning back down below $0.30 again.

Conclusion

The debt ceiling debate is still ongoing but investors are looking towards crypto assets as a potential hedge against economic uncertainty and some AI tokens have seen significant gains so far today – most notably Matrix (MAN).

Disclaimer

This article is provided for informational purposes only and should not be taken as financial or legal advice of any kind.