Fetch.ai (FET) Gains By 4% Amidst General Market Loss
02 März 2023 - 04:30PM
NEWSBTC
The crypto market has been rather turbulent in the past few days,
with most assets recording slight losses. However, within the same
period, a few cryptocurrencies like Fetch.ai (FET) have maintained
a positive price pattern, generating some gains for their
investors. Generally, Fetch.ai has been one of the most
impressive assets in 2023, gaining by over 400% since the beginning
of the year. Like most crypto tokens, FET started the year with a
gradual price increase throughout January. However, following
a significant interest spike in AI tokens, FET recorded a massive
boost of over 103% in early February, hitting a price of $0.55.
Although the AI token soon fell from this level, it found support
in the price region of $0.38. Since then, FET has been rising
readily, building momentum for what seems to be a major price
breakout. In the last seven days, where market giants like Bitcoin
(BTC) and Ethereum (ETH) have recorded losses, FET has been one of
the few stand-out performers gaining by 4.3%, according to data by
Coingecko. At press time, Fetch.ai is trading at $0.46, having gone
down by 0.7% in the last hour. Meanwhile, the token has a current
daily trading volume of $192 million, with its market cap valued at
$480.5 million. FET trading at $0.45 | Source: FETUSD Chart
on Tradingview.com Related Reading: Dogecoin Price Displays Bearish
Chart Pattern, These Levels Are Key Now Fetch.ai Records Massive
Whale Transaction Activity In 2023. Analyzing the price growth of
Fetch.ai in 2023, an on-chain analytics platform, Santiment,
released a report today covering the whale transaction activity
behind FET’s ascent. According to Santiment, Fetch.ai, alongside
Maker(MKR) and Cardano(ADA), are three assets that have experienced
“steep increases in whale transaction” activity in 2023.
Source: Santiment Santiment stated that FET and ADA recorded their
biggest whale spike of 2023 on Feb. 8 and Feb. 16, respectively,
with MKR being the latest to join the trend following its massive
whale spike on March 1. The report by Santiment concluded that
investors can anticipate major swings from any of these assets
moving forward. Related Reading: Maker (MKR) Ignores Market
Downtrends, Gains Over 15% In One Week What To Expect From Fetch.ai
in 2023? Fetch.ai is a unique blockchain project employing two
major components of the traditional technology industry in
artificial intelligence and machine learning to deliver an
efficient, automated blockchain ecosystem. Considering its
bullish start to 2023, FET is tipped by many for future price
appreciation later in the year. According to the 2023 price
predictions by DigitalPriceCoin, FET has the potential to reach a
maximum price of $1.02 during the year. However, they do not rule
out the possibility of the AI token falling to around a minimum
price region of $0.42. PricePrediction.net, another crypto
analysis site, says that FET can only trade as high as $0.74 in
2023, with its minimum expected price being $0.62. That said, it is
worth noting that these price predictions are not guaranteed and
should not be considered in making investment decisions. Featured
Image: W3BT, chart from Tradingview
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