FET: 30% Breakthrough Draws Investor Attention As New Developments Roll Out
15 Septembre 2024 - 3:00PM
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The Artificial Superintelligence Alliance (FET) has gained ground
after the market returned to pre-September levels. CoinGecko notes
that FET, the native token of the merger, has risen by 30% since
last week, representing a huge jump in investor sentiment.
Related Reading: Ripple Moves 150 Million XRP, Fueling An 11% Price
Surge This was due to several on-chain developments this week,
supported by an even greater bullish market sentiment as major
cryptocurrencies like Bitcoin and Ethereum successfully returned to
sustainable levels. With this in mind, investors might continue to
face gains in the coming weeks. On-Chain Developments Fuel
Growth For FET Back on September 13, Fetch.ai announced Synergy, a
proposed project by Fetch’s Innovation Lab intern Kush Agarwal,
which will integrate the platform’s AI tech into the manufacturing
industry. Although no further details have been announced like
whether the project received a green light for development, Synergy
works by utilizing Fetch’s AI agents to perform a variety of tasks
inside a manufacturing plant, increasing efficiency. Another
amazing product developed in our Innovation Lab by one of our
interns, Kush Agarwal!🚀 Check out Synergy.👀 Synergy harnesses the
power of #AI to make the global manufacturing industry more
efficient. Stay tuned for more projects coming out of our
Innovation Lab!🤯… pic.twitter.com/6EQh8GY2QX — Fetch.ai (@Fetch_ai)
September 13, 2024 According to the X post, the scalability of the
proposed project is nearly infinite, but whether it will have a
definite effect on the manufacturing industry is up for debate. In
MIT’s mid-year Technology Review, 35% of the 300 manufacturers they
surveyed have already integrated AI into their workflow,
representing 105 manufacturers. Fetch also secured a
partnership with GameSwift, a compute-focused AI platform that aims
to “drive the mass adoption of Web3 gaming”. The partnership is
simple, users on GameSwift earn by lending their computing power
for AI advancement with a side goal of expanding Fetch’s gaming
sector. As of writing, GameSwift’s first goal is to create a
marketplace for users for their computing power. Another bullish
signal for investors is the proposal to add CUDOS, a blockchain
cloud-computing protocol, to the ASI through a token merger. In the
proposal, the ASI stated that adding CUDOS to the alliance will
“scale the Alliance’s computational resources but also fortify its
position as the leading platform for decentralized AI, AGI, and ASI
initiatives.” FET Attempts Breakthrough On $1.4 Resistance As
of writing, FET’s overwhelmingly bullish sentiment on all
timeframes gives the bulls enough momentum for an attempted
breakthrough on the $1.4 resistance level. Supported by positive
on-chain developments, the token might be poised to flip this
resistance to support in the coming days. Related Reading:
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Massive Growth However, the relative strength index of the token
signals that the bulls are exhausted with little to no room to
continue the bullish steamroller. This may hint at a slight
retracement in the coming days. With FET’s relatively high
correlation with the major cryptocurrencies, it can also be
influenced by any movement made by Bitcoin and Ethereum in the
coming days. Featured image from Pexels, chart from
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