Fetch.ai Announces Integration with CUDOS Mainnet, FET Price at $2 Soon?

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As a seasoned analyst with over a decade of experience in the cryptocurrency market, I find this latest development between Fetch.ai (FET) and CUDOS mainnet integration quite intriguing. Having witnessed numerous integrations and partnerships in my career, I can confidently say that this merger has the potential to significantly broaden Fetch.ai’s decentralized computing capabilities, making it a key player in the AI and blockchain-based applications space.

In the recent update, Fetch.ai has successfully incorporated the CUDOS mainnet, leading to an increase of approximately 5% in the FET price within the last 24 hours. This integration took place through Network Upgrade Proposal 33, combining all CUDOS tokens and staked assets according to the previously set token ratios.

By incorporating the CUDOS mainnet into our system, Fetch.ai will gain additional features and compatibility, enhancing the overall functionality of our ecosystem. Moreover, this union opens up opportunities for us to expand our decentralized computing abilities, facilitating the development of more scalable and efficient AI, as well as other blockchain applications.

Through joining forces with the Artificial Superintelligence Alliance (ASI), this collaboration empowers the alliance to broaden and fortify its stance in the rapidly expanding realm of AI’s impact on the cryptocurrency sector. In light of this advancement, Fetch.ai commented on the matter:

The CUDOS main network has been completely combined with the Fetch.ai main network, effortlessly unifying all CUDOS tokens, including those that are staked. This network fusion is in accordance with the established token fusion proportions and a three-month linear vesting plan.

Moreover, the Fetch.ai team recognized and appreciated the swift and proficient work of the validators, who ensured a seamless network upgrade. Furthermore, the AI platform is advancing significantly in cross-chain compatibility thanks to its recent collaborations with DeFi protocol Injective.

Through this partnership, Fetch.ai can enhance its Inter-Blockchain Communication (IBC) protocol light client using Injective’s technology. This upgrade will streamline the process of cross-chain asset transfers between the Fetch.ai and Injective networks, making them more efficient.

The Fetch.ai (FET) Price Analysis

Immediately following its release, the price of FET surged by over 7% in just 24 hours, reaching $1.35 at the time of this update. Furthermore, bolstered by the overall uptrend in the crypto market, FET has managed to regain most of its losses from the previous week.

The next key resistance for FET is at $1.40, a level it must surpass before making another attempt at the $1.71 mark. This threshold is pivotal in shaping the altcoin’s upcoming trajectory.

Courtesy: Trading View

As a crypto investor, I’m finding myself increasingly hopeful about Fantom (FET). The current trends seem to be gearing up for a gradual bullish surge, potentially pushing the price past the $1.70 mark once more. The community is buzzing with optimism as FET approaches these crucial resistance levels. These thresholds could significantly boost its upward trajectory.

However, one thing to keep in mind is that FET has always maintained a negative correlation to Bitcoin at -0.17. this shows that whenever the Bitcoin price rallies, FET may show a contrasting trend.

Generally speaking, these negative relationships between Bitcoin and other cryptocurrencies are often handled with care, considering Bitcoin’s significant impact on the overall crypto market.

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2024-10-29 15:18