Fetch.AI is an artificial intelligence (AI) lab founded in 2017. The developers of this project want to create a massive integration between artificial intelligence and crypto. Thus, it wants to make a permissionless technology that allows anyone to access crypto datasets. Recently, there was a massive boost for Fetch.ai and the broader AI token sector. Apparently, FET reached a significant trading volume of more than $1 billion. Furthermore, there was a new deal within the Fetch.ai ecosystem, reaching up to $100 million.
Fetch.ai at the Frontline of AI Tokens
Fetch.ai appears to be the leader of crypto tokens related to artificial intelligence. So, anytime Fetch.ai is doing well in the market, there’s a probability of AI tokens doing the same. Recently, there was a massive boost. Apparently, investors splashed as much as $1 billion in transactions. According to data from CoinMarketCap, there was as much as $1.2 billion in trading volume.
But this wasn’t the only bullish metric for this token. So, its total valuation is more than $2 billion. Furthermore, this wasn’t the only boost Fetch.ai received in the market. Recently, they announced a deal worth about $100 million. Apparently, this $100 million will help their community and developers expand the AI economy. Moreover, this appears to be a major driver in the ongoing bullish trends for AI tokens.
Fetch.ai Secures Massive $100 Million Investment
In an announcement on Twitter, Fetch.ai told their community about a new development. According to them, they secured an infrastructure investment, securing the expansion of the AI economy. Apparently, this consists of tools and training capabilities that will be available to their community and developers. So, the primary aim of this project is to enhance participant’s ability to create advanced AI applications.
To achieve this, Fetch Compute will deploy Nvidia H200, H100, and A100 GPUs to develop enough computing power for the participants. Furthermore, there will be a drastic reduction in GPU scarcity at the end of this project. One thing that makes this project very interesting is that the community will significantly earn from it. So, Fetch.ai will introduce a reward mechanism for its community with the project. Thus, those staking Fetch.ai’s native coin, $FET, will earn Fetch Compute Credits as rewards. Upon earning these credits, they can use them to pay for GPU utilization on the Fetch Compute network. Apparently, this new announcement is taking a positive toll on Fetch.ai’s price, with more than a 70x increase in seven days.
FET Price Update
- According to data from CoinMarketCap, there’s more than a 10% increase in the 24-hour chart of this token. Moreover, there’s an even bigger increase in the weekly chart. At the time of writing, there’s more than a 50% increase. Within this period, the highest price was $2.84. Furthermore, the lowest was around $1.45. Nevertheless, there’s still a chance for a 70x future surge for this token. It all depends on the success of the AI economy and Bitcoin’s bullish trends.
Wrapping Up
Fetch.ai appears to be a promising token in the crypto market. Lately, a lot of successes within the artificial intelligence sector remain the biggest driver of the success. So, the trading volume of this AI token reached as much as $1 billion in 24 hours. Furthermore, there was a new development. The developers are creating a platform that will benefit both the community and developers. This new development is a deal worth more than $100 million.
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from cryptonewsbytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
