The post FET Explodes 60% After New Project Announcement appeared on BitcoinEthereumNews.com.

FET has been red-hot of late and is touting a price increase of over 60% this week, which is greater than some of the bigger cryptocurrency players such as Bitcoin, Solana, and TRON. A big chunk of this upward momentum is hailed directly from Fetch.ai’s new announcements, including a brand-new global Innovation Lab being opened in San Francisco, California, which is going to really push at the boundaries of AI technology. FET muscles its way up to a 60% weekly burst. Source: Coingecko Investors’ excitement has been driven by their ability to become a lab innovation driver, so FET is seen to gain by another 14% and most likely hit $1.537 on September 25, 2024. The Innovation Lab is where early-stage startups could emerge with developing AI agent solutions, and Fetch.ai has earmarked $10 million yearly in support of these projects. Related Reading With probably up to $1 million spending on each project, the lab is sure to be one of the most critical drivers for Fetch.ai’s exponential growth. No wonder that this strategy has unquestionably heated up the price surge as investors await the potential for game-changing developments emanating from this initiative. FET Recovery And Market Sentiment After suffering from intense selling pressure, FET was able to see a bounce with incredible strength. In the past 24 hours alone, FET has added an extra 7% to its gain, setting among the top AI cryptocurrencies. FET market cap currently at $3.3 billion. Chart: TradingView The good thing gets to stand out fully when it comes to the nature of this recovery, all things considered. Other focus projects on AI, such as Near Protocol and Internet Computer, have had it in the red in recent times, having shed 14% in the last 30 days. On the other hand, FET showed resilience…

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Filed under: News - @ August 26, 2024 10:24 am