The second week of February has displayed quite a slump in the cryptocurrency market. Most of the cryptocurrencies have declined ever since the new week has begun.
Although the entire cryptocurrency market has dipped, Fetch.AI (FET) has recorded a major surge in its trading price. The asset has reportedly stood strong against all the odds and its value has continued surging.
FET’s 24% Surge
The data shows that the trading price of the FET token has recorded a major boost. The analysis report shows that the trading price of FET has surged by 24.47% in the past 24 hours.
The data has been collected and shared by CoinMarketCap revealing that the trading price of the asset currently stands at $0.4196.
The report shows that the value of the asset has continued surging throughout the week. From the start of the week until now, the trading price of FET has surged over 49%.
Rally is Not a Unique Occurrence
According to the market analysis report, the FET token has proven to be a highly momentous and fast-growing asset. The value of the asset has continued growing more bullish with time.
Its performance has been better than the performance of all the altcoins. The volatility of the token has continued growing more bullish and its volatility has continued experiencing a significant surge.
Lately, the cryptocurrency market has become very volatile. Given the current market condition, the high volatility act as a positive factor, which suggests that the trading price of the assets would continue surging.
The cryptocurrency market has been hitting new milestones and it has crossed the $1 trillion market capitalization. The cryptocurrency market is constantly growing bullish sentiments.
This way, the cryptocurrency market may continue growing and expanding. The Fetch.AI token is taking full advantage of this and its value is moving in the upward direction.
Interesting Information Shared by Fetch.AI
The teams behind the development of Fetch.AI have revealed that they are witnessing a strong momentum for the asset.
The weekly performance of the FET token has been quite remarkable. The transaction volume of the FET token has also moved into the bullish zone. It has continued rising and may keep moving higher.
The teams have confirmed that the transactions for FET tokens have surged by over 5 million. The number of transactions for the token has surged ever since it made it to the mainnet.
It is a significant milestone that the token and the protocol have reached. The rise in the transaction number and volume for the FET token suggests that users are adopting it at a high rate.
With more users adopting the network, the protocol will grow larger and more transactions will come in the way of the FET token.
Utility of the Fetch.AI Platform
Fetch.AI is a protocol that is known for offering users access to artificial intelligence. For a long time, AI has remained a technology that is not common at all.
It is only the crypto-blockchain projects that have taken the risk of offering AI technology to the users.
Fetch.AI has been brought into existence with the very idea of democratizing AI technology. With the technology becoming common and falling within the reach of all users, it will expand tremendously.
The project has launched multiple projects that have proven to be quite successful. It has lived up to its potential and its credibility is constantly rising in the crypto-blockchain market.
The protocol has scheduled several upgrades and if it continues to do it, then the growth of the project will continue taking place.
The project has invested many resources and a strong workforce in order to work on the new protocols. If AI technology keeps on getting adopted, then the trading price of the FET token may continue getting pushed forward.