FET Rallies By 16% Following Major Updates In Ecosystem

Artificial Superintelligence Alliance’s FET token dramatically soared by 16% following major updates in its ecosystem.
These include expanded cross-chain interoperability with Cardano and new updates in the Fetch.ai wallet.

FET’s Fastbreak in the 24-Hour Chart

Artificial Superintelligence Alliance (FET) continuously positions itself as a viable investment in artificial intelligence (AI) related tokens. On September 10, the digital asset exhibited a significant climb in its price by around 16% from a $1.13 low to a $1.31 high in the past 24 hours.

As of Tuesday noon, FET appears to have settled with over 13% gain in the one-day timeframe at $1.30. Alongside its rise came an 86% increase in its trading volume as more than $261.07 million worth of its tokens moved between addresses. Meanwhile, the latest developments allowed the crypto asset’s 2.63 billion tokens in circulation to reach a market cap of $3.27 billion.

Zooming out the charts reveals that FET accumulated around a 10% increase in its price in the past seven days. In addition, its value has risen by over 42% and 468% in the one-month and one-year frames, respectively.

Despite the shake-up in its prices, FET remains 62% down from its all-time high of $3.47 five months ago.

Behind the FET Rally

Bitcoin’s (BTC) rebound near the $58K line has undoubtedly sent ripples in the crypto market this Tuesday. It somehow helped alleviate the state of uncertainty hounding the consensus. In some way, FET has benefited from this progress.

Unlike other altcoins, FET does not suffer from over-reliance on Bitcoin. Sure, it tends to trend with other AI-related tokens, particularly Bittensor (TAO) on several occasions. However, this time, it appears to have diverged from its ties with TAO, as its recent gains were a result of major updates in its own ecosystem.

Artificial Superintelligence’s Collaboration with SingularityNET

Artificial Superintelligence Alliance comes off fresh from its partnership with SingularityNET to deploy the FET native token on Cardano. Not only does this expand the cross-chain capabilities of FET, but it also strengthens its vision of creating a decentralized and ethical AI ecosystem that’s reinforced by Cardano’s infrastructure.

SingularityNET and Artificial Superintelligence Alliance

The introduction of native Cardano FET replaces SingularityNET’s AGIX native token on the Cardano blockchain. The update offers a lot of advantages to users, such as the direct conversion of AGIX to FET to simplify the migration process of holders in Cardano.

Moreover, it rolls out updates to SingularityNET’s existing Ethereum-Cardano bridge. This paves the way for the seamless transfer of FET between the two chains while enhancing the token’s liquidity and accessibility for users.

Fetch.ai Wallet Updates

Today, the Fetch.AI team announced the v1.0.2 update for its wallet. The upgrade introduces new branding, governance, security, performance, management, and currency support features to the platform.

With it, users can now vote on governance proposals. They also benefit from an auto-lock feature that automatically prevents access to their wallet when its app is minimized or closed.

Furthermore, it lays down new stability and performance elements to address random crashes for iOS users, a new interface for easier management of multiple transactions, and expanded currency support.

Giancarlo Perlas

Giancarlo is an economist by profession with a career spanning nearly two decades. His professional journey has seen him assume vital roles in various government and private organizations such as the Department of the Interior and Local Government (DILG), the National Economic and Development Authority (NEDA), Megaworld Corporation, and the China Banking Corporation in the Republic of the Philippines. In addition to his civic and corporate pursuits, his forward-thinking approach has led him to manage several prominent websites in the banking and finance sector, notably the Australia-based RateChoice, where he immersed himself in the world of emerging financial technologies and where he found particular interest in Bitcoin all the way back to 2013. Prior to his addition to Blockzeit’s dynamic team, he held an essential role as Project Manager for initiatives encompassing blockchain, stablecoin, mining, special economic zone development, and iGaming. This noteworthy chapter in his career unfolded under the auspices of InPlan Consultancy Services, Inc., the think-tank of IMPERO Consortium Management Corporation headquartered in Manila, Philippines, and Tokyo, Japan. InPlan, led by a distinguished retired Cabinet member of the Philippines, collaborates directly with IMPERO's core management team, contributing to strategic planning and business development endeavors.