In the bitcoin market, artificial intelligence is expediting the development of new facilities, technologies, and social & financial networks. Some AI cryptocurrency projects have recently been able to outperform a number of well-known cryptocurrencies. One of the top AI cryptocurrency tokens, fetch.ai, has increased by 400% since the start of this year.
Fetch.Ai: A Token with Enormous Growth Potential
Numerous cryptocurrency tokens associated with artificial intelligence have benefited from OpenAI's ChatGPT's undeniable promise. One of them, FET, was able to close over the $0.42 resistance level.
Santiment, a portal for market intelligence, claims:
“FetchAi is currently holding 102nd position in the cryptocurrency market after skyrocketing +395% in 2023. Also, it has seen its largest transaction in 567 days. $61.2 million worth of $FET has been transferred to an existing whale address, which also holds 224.46 million in $ETH.”
A Strong Beginning to the Year
Initiated in the summer of 2018, Fetch.ai (FET) builds a network of autonomous software agents for AI-powered peer-to-peer applications. It does this by integrating blockchain, smart contracts, and AI technology. Compared to its competitors, the FET network is a true decentralized and permissionless environment. To put it another way, it establishes a decentralized network of several independent agents that can speak for both themselves and others.
Fetch.Ai’s price at the time of writing is $0.4242 (up 0.53%), with a market capitalization of $347,399,723 and a 24-hour trading volume up by 150%. Now it stands at $228,808,592. At the same time, the circulating supply is approximately 818,912,300 FET.
FET has gained 80.18% compared to 30 days ago, as well as achieving a significant 362.14% gain over the preceding 2 months, although suffering a loss of 15.63% in the most recent seven days, consistent with the prevailing trend on the cryptocurrency market.