FET: 30% Breakthrough Draws Investor Attention As New Developments Roll Out

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As a seasoned analyst with over two decades of experience in the tech and finance industries, I’ve seen my fair share of market fluctuations and technological breakthroughs. The recent surge in FET, especially after the on-chain developments, is nothing short of intriguing.

The Artificial Superintelligence Alliance (FET) has made progress as the market has rebounded to its levels prior to September. According to CoinGecko, FET, the token associated with this merger, has seen a 30% increase over the past week, suggesting a significant surge in investor optimism.

Due to some significant advancements in blockchain technology this past week, coupled with a strongly optimistic market atmosphere, key cryptocurrencies such as Bitcoin and Ethereum have rebounded to stable prices. Given these circumstances, investors could potentially see further profits in the near future.

On-Chain Developments Fuel Growth For FET

As an analyst, I’d like to highlight that on September 13, Fetch.ai unveiled Synergy – an innovative concept spearheaded by Kush Agarwal, an intern at their Innovation Lab. This proposed project aims to seamlessly integrate Fetch’s advanced AI technology into the manufacturing sector. While specifics about its development status, such as whether it has been approved, remain undisclosed, Synergy operates by leveraging Fetch’s AI agents to streamline various tasks within a production facility, thereby enhancing efficiency.

Another amazing product developed in our Innovation Lab by one of our interns, Kush Agarwal!

Check out Synergy.

Synergy harnesses the power of #AI to make the global manufacturing industry more efficient.

Stay tuned for more projects coming out of our Innovation Lab!…

— Fetch.ai (@Fetch_ai) September 13, 2024

As per the X post’s claim, the potential for growth in the proposed project is essentially limitless; however, whether it will undoubtedly influence the manufacturing industry is still a topic of discussion. In MIT’s mid-year Technology Review, about one-third (35%) of the 300 manufacturers they polled have already incorporated AI into their processes, which equates to around 105 factories.

Fetch has teamed up with GameSwift, an AI-focused platform that’s all about boosting Web3 gaming adoption. Through this partnership, GameSwift users can make money by sharing their computational resources for AI development, with the added objective of strengthening Fetch’s gaming niche. Currently, GameSwift is working on establishing a marketplace where users can sell their computational power.

Another bullish signal for investors is the proposal to add CUDOS, a blockchain cloud-computing protocol, to the ASI through a token merger. In the proposal, the ASI stated that adding CUDOS to the alliance will “scale the Alliance’s computational resources but also fortify its position as the leading platform for decentralized AI, AGI, and ASI initiatives.” 

FET Attempts Breakthrough On $1.4 Resistance

Currently, there’s a strong optimism among FET investors across various timeframes, which could potentially propel a push towards breaking the $1.4 resistance. Backed by favorable on-chain indicators, it seems that the token may succeed in converting this resistance into future support within the next few days.

Despite the RSI suggesting that the bulls are running out of steam for FET, there might be a slight pullback in the near future. Given its strong correlation with major cryptos, shifts in Bitcoin or Ethereum’s price could potentially impact FET as well, in the days ahead.

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2024-09-15 16:16