Retail investors have been traditionally the driving force behind the digital currency market’s recent bounce, which has seen the total capitalization of the industry of digital currency go up back over $1 trillion dollar. Nonetheless, recent research outlines that whales are now in the driver’s seat and are actively purchasing and trading cryptocurrency tokens, especially Fetch. Artificial Intelligence (AI) (FET) which comes out as one of the most utilized smart contracts among the top 100 Ethereum (ETH) whales.
FET’s Substantial Whale Activity
FET is reportedly one of the top 5 altcoins that large wallet holders are more interested in purchasing and accumulating for the longstanding, according to WhaleStats, a leading whale activity tracker. In the past twenty-four hours, there has been a whole lot of whale accumulation, which typically points to the likelihood of an boost in price for the digital currency because of a major event or the emergence of positive tendency technical indications.
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FET has reached new local and 2023 highs, with a rapid 20 percent intraday boost that brought the price to over $0.30. The price increase comes on the heels of “AI” as of now setting the tendency in the digital currency market, following the boost of Artificial Intelligence (AI) tools like ChatGPT and others. Not only Fetch, but likewise a number of other AI-based cryptocurrencies, such as SingularityNET, Ocean Protocol, and Phala Network, have all seen tremendous growth over the past week and in the previous few months.
Fetch.AI’s (FET) Growing Popularity
The unquestionable potential of OpenAI’s ChatGPT has generated considerable interest in artificial intelligence, which is helping to drive values far greater for cryptocurrency crypto tokens tied to Artificial Intelligence (AI). Reports by industry stalwarts, the technology has sparked an “arms race” in artificial intelligence, in which the entire world of technology is rushing to jump on the bandwagon and bank upon its success.
Launched back in the summer of 2018, Fetch.ai (FET) combines blockchain, smart contracts and Artificial Intelligence (AI) technology to create a network of autonomous software agents for AI-powered peer-to-peer applications. It had an outstanding beginning to the year, as evidenced by a price increase of greater than 200 percent in the past thirty days. As things as of now stand, the price of Fetch. Artificial Intelligence (AI) (FET) moved to $0.33 at the time of composition. And, reports by the cryptocurrency market tracker published by CoinMarketCap, this results in a growth of 6 percent in the previous 24 hours, on the other side to a jump of 21 percent over the last 7 days.
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