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Fetch.ai (FET) Gains By 4% Amidst General Market Loss Fetch.ai (FET) Gains By 4% Amidst General Market Loss
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Fetch.ai (FET) Gains By 4% Amidst General Market Loss

Semilore Faleti
Semilore Faleti
2 years ago
3 mins read
Fetch.ai

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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. 

Fetch.ai

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. 

Fetch.ai

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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Semilore Faleti
Semilore Faleti

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Read more

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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