As an analyst with over two decades of experience in the tech and finance industries, I have seen my fair share of market fluctuations. However, the recent surge of the Artificial Superintelligence Alliance token (FET) has caught my attention.
For three days straight, the price of the Artificial Superintelligence Alliance’s token has climbed, hitting a new peak not seen since June 27.
Artificial Superintelligence Alliance coin (FET) jumped to a high of $1.5768 on Sept. 19, 127% above its lowest point this month. This rally mirrored the performance of most cryptocurrencies, which surged after the Federal Reserve slashed interest rates.
The Flow (FET) token saw an uptick as Nansen’s data indicated approximately $7.8 million in centralized exchange influxes within the last 24 hours, marking a significant 127-fold increase compared to the usual average. Such a surge in exchange inflows usually hints that some owners might be choosing to offload their holdings.
Over these past times, the quantity of FET tokens in the possession of shrewd investors’ wallets has been on the rise, peaking at a year-to-date maximum of 5.9 million. The number of such smart money wallets has grown to 25, an increase from the previous month’s low of 21.
The data indicated a significant increase in the trade volume of FET, reaching approximately $623 million – a peak not seen since March of this year. Furthermore, as reported by CoinGlass, the futures open interest for FET reached over $92 million, a level not surpassed since June 9.
The momentum for the Artificial Superintelligence Alliance’s token picked up speed after numerous noteworthy advancements in AI technology were announced. For instance, Alibaba in China revealed a suite of AI tools, which included more than 100 open-source AI models.
Currently, OpenAI is reported to be in the process of securing funds at a staggering valuation of $150 billion, cementing its status as the dominant force in the artificial intelligence sector. Furthermore, the company has recently formed an alliance with T-Mobile, an action they expect will significantly increase their future profits by more than $39 billion over time.
The coin also rose ahead of an important vote in which alliance members will determine whether Cudos will become the next part of the alliance. The current three members of the alliance are Fetch, Ocean Protocol, and SingularityNET.
Kudos, the prospective newcomer, connects the dots between blockchain technology and cloud services by offering decentralized data storage options. Recently, its token experienced a 13% increase, resulting in a market capitalization exceeding $68 million.
ASI Alliance: Your Vote Counts
— Artificial Superintelligence Alliance (@ASI_Alliance) September 19, 2024
The leading AI-based cryptocurrency, FET, tends to perform well when positive developments occur within the industry. Likewise, other AI-focused tokens such as Bittensor (TAO) and Akash Network (AKT) have seen significant gains, increasing by double digits in recent days.
Read More
Sorry. No data so far.
2024-09-19 19:10