Fetch.ai (FET) Soars to New All-Time Highs
In the volatile world of cryptocurrencies, the recent bullish trend has not only pushed Bitcoin to new heights but has also propelled altcoins like Fetch.ai (FET) to unprecedented levels. FET has reached a fresh all-time high today, following in the footsteps of Bitcoin.
As of now, FET is priced at $2.76, with a trading volume of $2.77 billion in the last 24 hours. Its market capitalization stands at nearly $2 billion. Impressively, the coin has seen a remarkable 110% increase in price within the past week according to CoinMarketCap.
Fetch AI (FET) Revolutionizes the AI Economy
The recent surge in FET’s price can be attributed to the Fetch.AI Foundation’s announcement on March 5, 2024. The foundation introduced “Fetch Compute” as part of a significant $100 million investment in advancing the AI economy.
This initiative involves deploying top-of-the-line Nvidia GPUs, including models like H200, H100, and A100. These GPUs will supercharge innovation within the Fetch.AI ecosystem and address the GPU shortage. Developers and users will have enhanced computing power to create advanced models and solutions.
Experts Predict a $60 Billion Market Cap for Fetch AI
Cryptocurrency experts have expressed bullish sentiments about Fetch.ai’s future prospects. According to well-known expert Crypto Rover, there is a lot of potential for FET to continue growing.
$FET is going exponential.
Most likely you think, it will top out any time soon.
But I bought at $0.7 and I will not sell anytime soon.
It is now at $2b market cap.
I think it will top out around $40b-$60b.
20x from here seems reasonable. pic.twitter.com/n38Mc4m6dk— Crypto Rover (@rovercrc) March 6, 2024
Rover recently shared on X that they bought $FET at $0.70 and have no plans to sell in the near future. With a bold prediction, Rover stated that FET’s market cap is currently at $2 billion and could potentially reach $40-$60 billion.
The Global In/Out of the Money (GIOM) indicator reveals that 100% of FET’s total circulating supply is generating profits for investors. The most recent cohort to turn a profit holds 18,350 FET valued at $36,700, acquired at an average price of $1.82.
This indicates that investors are still accumulating FET despite the ongoing upward trend and confirmed profits, which may contribute to further price escalations.
Fetch AI has also formed a strategic alliance with Deutsche Telekom, a prominent corporate organization. This partnership strengthens Fetch AI’s position as a major player in the blockchain industry.
Whale Addresses Sell Off FET Holdings
Meanwhile, whale addresses holding FET have been selling off their holdings. These large wallets have made approximately $17 million from selling 8.45 million FET.
CoinCodex’s short-term Fetch.ai price prediction suggests that by March 11, the currency would reach $1.792. By April 5, the prediction rose to $1.924. Technical analysis on the site shows positive signs with 26 indicators pointing towards price appreciation and 4 indicators indicating price decline.
Hot Take: Fetch.ai’s Surging Success
In the volatile crypto market, Fetch.ai (FET) has experienced a surge in price, reaching new all-time highs. This can be attributed to the Fetch.AI Foundation’s investment in advancing the AI economy through “Fetch Compute.” Experts predict that FET could potentially reach a market cap of $60 billion. Whale addresses have been selling off their FET holdings, while technical analysis suggests positive price appreciation. The strategic alliance with Deutsche Telekom further solidifies Fetch AI’s position in the blockchain industry.
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