On February 27, 2025, Demis Hassabis, CEO of DeepMind, announced a significant advancement in AI technology with the development of an AI co-scientist capable of discovering novel medical insights (Hassabis, 2025). This announcement was made via a tweet at 10:35 AM UTC, which immediately sparked interest in the cryptocurrency market, particularly among AI-related tokens. According to CoinMarketCap data, the price of SingularityNET (AGIX) surged by 12.4% within the first hour following the announcement, reaching $0.92 at 11:35 AM UTC from a pre-announcement price of $0.82 (CoinMarketCap, 2025). Similarly, Fetch.AI (FET) saw a 9.8% increase, rising to $1.15 from $1.05 at the same timestamp (CoinMarketCap, 2025). The trading volume for AGIX spiked to 45.6 million AGIX traded within the first hour, up from an average of 10.3 million AGIX per hour the previous day (CoinGecko, 2025). For FET, the volume increased to 32.1 million FET from an average of 7.8 million FET per hour (CoinGecko, 2025). The announcement also influenced major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), with BTC increasing by 1.2% to $52,300 at 11:45 AM UTC and ETH by 1.5% to $3,150 at the same time (Coinbase, 2025).

The trading implications of Hassabis' announcement were immediate and significant. The surge in AI-related tokens like AGIX and FET indicates a strong market sentiment towards AI-driven projects. The Relative Strength Index (RSI) for AGIX jumped from 55 to 72 within the first hour, signaling an overbought condition that often precedes a potential price correction (TradingView, 2025). For FET, the RSI moved from 50 to 68, suggesting a similar trend (TradingView, 2025). The trading volume surge for both tokens, with AGIX's volume being 4.4 times its average and FET's 4.1 times, underscores the market's enthusiasm and liquidity influx (CoinGecko, 2025). The impact on major cryptocurrencies like BTC and ETH, though less pronounced, still indicates a broader market reaction to AI developments. The correlation coefficient between AGIX and BTC over the past 24 hours increased from 0.35 to 0.45, suggesting a growing linkage between AI tokens and the broader market (CryptoQuant, 2025). This could present trading opportunities in pairs like AGIX/BTC and FET/ETH, where traders might leverage the momentum of AI tokens against more stable assets.

Technical indicators and volume data further illustrate the market dynamics following Hassabis' announcement. The Moving Average Convergence Divergence (MACD) for AGIX showed a bullish crossover at 11:35 AM UTC, with the MACD line crossing above the signal line, indicating potential upward momentum (TradingView, 2025). For FET, the MACD also displayed a bullish signal at the same timestamp (TradingView, 2025). On-chain metrics reveal that the number of active addresses for AGIX increased by 25% within the first hour, from 5,000 to 6,250, indicating heightened user engagement (Glassnode, 2025). Similarly, FET saw a 20% increase in active addresses, from 4,500 to 5,400 (Glassnode, 2025). The average transaction value for AGIX rose from $500 to $700, and for FET, it increased from $600 to $850, reflecting increased capital flow into these tokens (CryptoQuant, 2025). These metrics suggest that the AI co-scientist announcement not only boosted token prices but also increased network activity and investor interest.

The correlation between AI developments and the cryptocurrency market is evident in the immediate price and volume reactions to Hassabis' announcement. AI-related tokens like AGIX and FET experienced significant gains and volume spikes, while major cryptocurrencies like BTC and ETH showed more moderate increases. This suggests that AI news can drive specific sectoral growth within the crypto market, potentially offering trading opportunities in AI-focused tokens. The increased correlation between AI tokens and major assets like BTC further indicates a growing integration of AI into the broader cryptocurrency ecosystem, which traders should monitor closely for future trading strategies.