On March 24, 2025, Milk Road (@MilkRoadDaily) reported a significant decline in the number of AI agents being launched daily, dropping from hundreds to under 10-20 per day (Source: @MilkRoadDaily, March 24, 2025). This reduction in AI agent launches was observed through data collected up to March 24, 2025. Historically, the peak of AI agent launches reached around 200 per day in early January 2025, but by March, this figure had significantly declined (Source: AI Launch Tracker, March 24, 2025). The exact reasons for this drop were not specified, but it is indicative of a cooling trend in the AI development sector. This news was released at 10:00 AM UTC on March 24, 2025, and immediately impacted the sentiment in the AI-related cryptocurrency markets (Source: Crypto Sentiment Index, March 24, 2025, 10:15 AM UTC).

The immediate impact of this news on AI-related tokens was a noticeable dip in prices. For example, SingularityNET (AGIX) experienced a 3.5% drop within the first hour of the news release, with prices falling from $0.85 to $0.82 (Source: CoinGecko, March 24, 2025, 11:00 AM UTC). Similarly, Fetch.ai (FET) saw a decline of 2.8%, moving from $1.20 to $1.16 in the same timeframe (Source: CoinGecko, March 24, 2025, 11:00 AM UTC). This decline in AI token prices was accompanied by an increase in trading volumes, with AGIX seeing a volume surge of 25% to 10 million tokens traded, and FET experiencing a 20% increase to 8 million tokens traded (Source: CoinMarketCap, March 24, 2025, 11:00 AM UTC). The correlation between the news and the price movements was evident, as the broader market sentiment towards AI projects shifted negatively (Source: Crypto Sentiment Index, March 24, 2025, 11:00 AM UTC).

Technical indicators on March 24, 2025, showed bearish signals for AI-related tokens. The Relative Strength Index (RSI) for AGIX dropped to 35, indicating that the token was entering oversold territory (Source: TradingView, March 24, 2025, 11:00 AM UTC). The Moving Average Convergence Divergence (MACD) for FET crossed below the signal line, suggesting a bearish momentum (Source: TradingView, March 24, 2025, 11:00 AM UTC). On-chain metrics further supported this bearish sentiment, with the number of active addresses for AGIX decreasing by 10% to 5,000 addresses within the first hour of the news release (Source: Glassnode, March 24, 2025, 11:00 AM UTC). The trading volume for the AGIX/BTC pair increased by 15% to 500 BTC, while the FET/ETH pair saw a 12% rise to 300 ETH, indicating heightened interest in these trading pairs despite the negative news (Source: CoinMarketCap, March 24, 2025, 11:00 AM UTC).

The correlation between AI developments and the crypto market was clearly visible on March 24, 2025. The decline in AI agent launches directly influenced the sentiment and trading volumes of AI-related tokens like AGIX and FET. The broader cryptocurrency market, including major assets like Bitcoin (BTC) and Ethereum (ETH), remained relatively stable, with BTC trading at $65,000 and ETH at $3,800 at 11:00 AM UTC (Source: CoinGecko, March 24, 2025, 11:00 AM UTC). However, the AI sector's downturn led to a 1.5% drop in the AI Crypto Index, reflecting the sector's specific impact (Source: AI Crypto Index, March 24, 2025, 11:00 AM UTC). This event highlights the potential trading opportunities in AI-related tokens, especially in times of sector-specific news, where traders could capitalize on volatility and volume changes (Source: Crypto Trading Strategies, March 24, 2025).