Coin Edition -
- FET hits an all-time high at $1.67, signalling strong AI market interest.
- AI and strategic partnerships may have propelled Fetch.ai’s remarkable surge.
- Crypto analysts see Fetch.ai potentially breaking the $2 mark soon.
Fetch.ai (FET) recorded a new all-time high, touching $1.67%, signifying a sharp growth of 14.82% on March 1st. This achievement reveals the increasing investor confidence in Fetch.ai, gradually spurred by a solid stream of positive factors in the AI and crypto markets.
At press time, FET was still bullish, with prices up 21% from the intra-day low to $1.58. During the rally, FET’s market capitalization and 24-hour trading volume surged by 21.78% and 0.58%, respectively, to $1,314,710,934 and $493,634,316.
FET/USD 24-hour price chart (source: CoinStats)
As for the rest of the cryptocurrency market, a rising trend has been witnessed with top cryptocurrencies, such as Bitcoin and Ethereum, setting the tone with considerable gains after hitting $63k and $3500, respectively, during the rally, as reported by CoinEdition. As a result of this positive market sentiment, a spillover effect has benefited the bulk of crypto assets, including the FET.
The move higher in Fetch.ai’s price partly reflects the broader bullish trend in the crypto market. This surge has been witnessed in the last week, with AI tokens recording significant gains and market capitalization hitting $18.6 billion.
AI Innovations Fueling Fetch.ai’s Growth
Fetch.ai has additionally been integrating artificial intelligence into decentralized applications. Consequently, the combined effect of recent AI breakthroughs and Fetch.ai’s solid strategic partners may have stimulated a surge in Fetch.ai’s value. For instance, Fetch.ai’s cooperation with Deutsche Telekom to discover the prospect of AI for enterprises and to explore its applicability in different industrial fields.