Fetch.AI (FET) Price Gains Another 15% Following This Big News
06 Marzo 2024 - 9:35AM
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Fetch.AI (FET) has demonstrated remarkable performance in the
crypto market today, securing its position among the top-three
performers. The asset witnessed an impressive 17% gain within the
last 24 hours, marking a significant milestone by crossing the $2
threshold for the first time ever. This surge, propelling Fetch.AI
to the 64th place among the top cryptocurrencies by market cap, is
a testament to the growing investor confidence and market optimism
surrounding its technological advancements and future potential.
Why Is Fetch.AI Price Up Today? This surge in FET’s price can be
attributed to a pivotal announcement by the Fetch.AI Foundation,
which has evidently ignited investor interest. On March 5, 2024,
the foundation unveiled a substantial infrastructure investment
with the introduction of “Fetch Compute,” following a $100 million
investment aimed at enhancing the development capabilities within
the AI economy. Introducing: Fetch Compute 🖥️ Following a $100M
investment in our infrastructure, we have secured the future for
our growing ecosystem with a decentralized computing platform,
offering advanced AI-focused @nvidia #GPUs 🚀⚡ But wait, there's
more for $FET stakers! 👀👇 pic.twitter.com/i9FYkJnkLZ — Fetch.ai
(@Fetch_ai) March 5, 2024 Fetch Compute’s initiative to deploy
state-of-the-art Nvidia GPUs, including the H200, H100, and A100
models, aims to significantly accelerate the pace of innovation
within the Fetch.AI ecosystem. This strategic investment, funded
through the Fetch Ecosystem Fund, is designed to empower developers
and users with the computational power necessary for exploring and
developing sophisticated models and solutions, addressing the
pressing GPU shortage and setting a new standard for the global
developer community. Related Reading: Fetch.AI (FET) Surges 21%:
Why This Rally Is Just Getting Started A novel incentive mechanism
was also announced, where starting March 7, 2024, users staking
Fetch.AI’s native coin, FET, will be rewarded with Fetch Compute
Credits. These credits can be used to access the computing power on
the Fetch Compute network, directly benefiting FET token holders
and fostering a robust development ecosystem. Humayun Sheikh, CEO
of Fetch.ai, emphasized the transformative nature of Fetch Compute,
stating, “Fetch Compute is not just an infrastructure investment;
it’s an investment in the future of AI and the ecosystem of
innovative developers who are pushing the boundaries of what’s
possible with our platform.” Sheikh further elaborated on the
significance of this initiative, “By marrying substantial compute
resources with our unique compute credit system, we’re ensuring
that our community has the support and tools necessary to bring
their visionary AI projects to life.” Related Reading: Fetch.AI
(FET) Prints Strong Bullish Signal, Targets 500% Spike This
strategic expansion not only enhances the utility of the FET token
but also reinforces Fetch.AI’s infrastructure capabilities. The
platform’s DeltaV, leveraging Language Models (LLMs) and AI Agents,
aims to revolutionize the way users connect with services, thereby
redefining the search experience. With the rollout of Fetch
Compute, Fetch.AI solidifies its vision of a more intelligent,
efficient, and interconnected AI world. FET Price Enters Price
Discovery As the FET price has ascended beyond the $2 mark, it has
successfully concluded the bull flag pattern, we discussed in
earlier price analysis, achieving a 290% increase. Now, the price
of FET is entering a phase of price discovery. The Fibonacci
extension levels may provide insights into potential future
directions for the price. Potential price targets are at $3.04
(2.618 Fib), $4.18 (3.618 Fib) and $4.88 (4.236 Fib). Featured
image from MEXC Blog, chart from TradingView.com
Grafico Azioni Fetch (COIN:FETUSD)
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