The CEO of Fetch.AI (FET) has offered a reward to uncover Ocean Protocol’s move after the project was accused of liquidating millions of tokens, affecting the FET’s price and its holders. Related Reading: Bitcoin (BTC) Price Eyes $114,000 Retest Amid Bounce, But Analyst Suggests Caution Fetch.AI Vs Ocean Protocol Feud On Tuesday, Humayun Sheikh, CEO of Fetch.AI, offered a bounty $250,000 to anyone who could “uncover the OceanDAO signatories and their connections to Ocean Foundation.” The post followed last week’s allegations that Ocean Protocol had dumped hundreds of millions of FET tokens into crypto exchanges earlier this year. For context, crypto AI projects Fetch.AI, Ocean Protocol (OCEAN), and SingularityNET (AGIX) merged into the Artificial Superintelligence (ASI) Alliance in mid-2024, combining their tokens under a shared FET framework. Over a year later, Ocean Protocol Foundation announced its departure from the alliance, sharing on October 9 that it had resigned as a member of the ASI Alliance, “effective immediately.” Last week, Fetch.AI’s CEO affirmed that the Ocean Protocol Foundation had swapped 661.2 million OCEAN tokens minted in 2023 for 286.4 million FET this July, suggesting that the protocol had been moving and liquidating them for the past three months. Sheikh noted that “Ocean as stand alone project did this it would be classed as a rug pull,” later vowing to personally fund three or more class action lawsuits in different jurisdictions. “If you are or were a holder of $fet and have lost money during this Ocean action be ready with your evidence. (…) I will be setting up a channel for all to submit your claims,” he wrote. Ocean Protocol called the accusations “unfounded claims and harmful rumors,” affirming that their team was “preparing responses to the various unfounded claims and allegations while respecting the ambits of the law.” At the time of writing, the protocol’s official X account has not published a response. Did Ocean Dump $120M Worth Of FET? Data analytics platform Bubblemaps shared a timeline of the Ocean Protocol moves, highlighting that despite the merger, the protocol kept a large amount of OCEAN tokens in its wallets for alleged “community incentives” and “data farming.” According to Bubblemaps’ analysis, Ocean Protocol’s team wallet (0x4D9B) converted 661 million OCEAN into 286 million FET, worth $191 million on July 1, and later sent 90 million FET to an OTC provider, GSR Markets. On August 31, the team wallet split the remaining 196 million FET across 30 new addresses. By October 14, most of these addresses had sent the funds to Binance or the OTC provider. Bubblemaps estimated that around 160 million tokens were sent to Binance, while 109 million FET were transferred to GSR Markets. In total, approximately 270 million tokens, valued at around $120 million, were reportedly transferred and potentially liquidated. “We can’t confirm whether the $FET tokens were sold by Ocean Protocol, although such transfers are typically associated with liquidation,” the platform noted, adding that on-chain activity only shows a multisig wallet linked to the protocol swapped millions of OCEAN tokens for FET, and sent them to Binance and GSR. FET’s Price Sees Sharp Decline Analyst Cryptor pointed out that the feud has triggered uncertainty surrounding the projects. He noted that the FET’s Top PnL Leaderboard doesn’t look good, as “almost everyone over the past 30 days has fully exited their positions.” Additionally, Smart Money Flows have been declining for nearly a year, alongside the price, which has retraced over 92.6% from its $3.45 all-time high (ATH). Related Reading: Pundit Outlines The Possibility Of The XRP Price Getting To $1,000 The analyst asserted that “you want segments like Top PnL traders, Smart Money, and funds to stay onboard because they set the tone for market behavior. (…) The data shows hesitation and capital leaving, which is to me a clear sign that confidence hasn’t returned. Price might hold temporarily, but without their participation, volatility rises quickly.” As of this writing, FET trades at $0.25, an 8.3% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Interactive Strength (TRNR), a Nasdaq-listed fitness technology firm, is entering the digital asset space by launching what it describes as the first artificial intelligence-driven crypto treasury. The company plans to acquire $500 million worth of Fetch.ai’s FET tokens, according to a June 11 announcement. TRNR has started building its token position, backed by an initial […]
The post Interactive Strength to launch AI-driven crypto treasury with $500 million Fetch.ai token acquisition appeared first on CryptoSlate.
The company is already buying some of the tokens after raising $55 million of new capital.
Fetch.ai (FET) has experienced a notable gain over the past 48 hours, with prices rising by over 13% within this period. The AI token continues to prove a favorable investment, reporting a monthly gain of 36.20% following the resurrection of the crypto bull market. Interestingly, a market analyst with the X username Cryptododo7 and popularly known as Plan D has stated FET is likely headed for green days with a forming bullish pattern. Related Reading: Litecoin Monthly Close Above Key Resistance Could Ignite 30% Rally – Is A Breakout Coming? FET Bulls Gear Up For Major Price Rally In an X post on May 23, PlanD shared a technical analysis on the FET market using an hourly trading chart from TradingView. Based on the presented chart, FET’s price action in the past two years has formed a bull flag pattern, hinting that the altcoin is on the edge of a breakout. The bull flag is a typical bullish pattern that signals the potential continuation of an uptrend after a brief period of consolidation. It consists of a flagpole, which represents a strong upward price movement as seen in 2024 when FET’s price surged by 1,400% from $0.20 to $3.00. Following this price rally, there is the flag/pennant, which is a small downward or sideways price movement resembling a flag on a pole. This consolidation is seen between 2024 and 2025, when FET retraces from its market top at $3.00 to below $0.25. Thereafter, there is the price breakout, which represents the moment a token’s price crosses above the flag’s upper boundary, signaling a continuation of the upward trend. While FET currently trades at $0.84, the upper boundary of the bull flag stands at $1.71. If the market bulls are able to command a decisive price close above this price mark, FET is tipped to produce a price rally similar to the length of the initial flagpole. Based on this calculation, PlanD predicts FET to hit a price target of $9.33, representing a potential 1,050% gain on the present market prices. Related Reading: Stealth Bitcoin Bull Run Ahead: Fidelity Says Do Not Blink FET Price Prediction At the time of writing, FET is trading at $0.85, reflecting a market gain of 11.75% in the past seven days. Notably, the token’s trading volume is up by 51.46%, indicating a strong market participation that could support a further market gain. According to the price prediction site CoinCodex, investors’ sentiment is largely bullish, with the Fear & Greed Index indicating Extreme Greed at 78. However, CoinCodex analysts foresee a continuous market correction tipping FET to trade at $0.80 and $0.60 in the coming five and 30 days, respectively. Featured image from iStock, chart from Tradingview
Fetch.AI (FET) is turning heads as it steadily regains momentum after a strong rebound from the $0.452 level. This key support held firm, allowing bulls to regain control and drive prices higher. With buying pressure gradually increasing, FET’s recovery is gaining traction, hinting at a potential breakout if momentum continues to build. As FET’s price action begins to reflect renewed confidence, the market is buzzing with speculation about its next move. With technical indicators pointing to upward strength and trading activity on the rise, its resurgence could mark the beginning of a significant turnaround. Will this rebound be the catalyst for a sustained rally? Analyzing Price Action: Signs Of a Sustained Uptrend? FET’s price has shown impressive resilience after rebounding from the $0.452 level, with bullish momentum steadily driving prices higher. However, the key question remains—can this rally sustain itself, or is it just a temporary bounce before another pullback? Related Reading: FET Breaches Key SMA Level, Will Bears Push Prices Lower? The $0.452 level proved to be a critical support zone for FET, acting as a springboard for its recent price recovery. This level halted further declines and provided a solid foundation for buyers to step in, signaling strong demand at lower price points. Technical analysis reveals several promising signs for FET as the price approaches a critical breakout level. FET is on the verge of surpassing the 4-hour Simple Moving Average (SMA), a key indicator that signals a shift in market sentiment. A decisive break above this level could bolster further price expansion. A noticeable uptick in trading volume has accompanied FET’s price recovery, indicating growing interest and participation from traders. Higher volume during an uptrend is often a strong indicator of sustained strength as it reflects increased buying pressure. Potential Price Targets: How Far Can FET Rally Go? Despite the encouraging signs, the coin’s path to a sustained uptrend has seen challenges. The token must maintain momentum and overcome higher resistance levels to confirm a lasting recovery. However, external factors such as macroeconomic conditions and overall market volatility may threaten its progress. Related Reading: FET Price Under Pressure: RSI Flags Extended Bearish Move Toward $0.966 FET’s first major target lies near the $0.80 psychological level, a key barrier that could trigger profit-taking or accelerate buying pressure. Breaking above this mark is likely to spur a move for FET toward $1.09, where previous price action has shown notable resistance. On the downside, a failure to clear key resistance levels might trigger a pullback, leading to a potential retracement to crucial support zones. The $0.452 support could serve as a buffer, but if bearish pressure intensifies, a retest to $0.057 is probable, which previously acted as a strong rebound point. Featured image from YouTube, chart from Tradingview.com
Solana is becoming the preferred cryptocurrency for retail investors, bolstering analyst expectations for another year of significant gains as the industry awaits the first US spot SOL ETF.
Fetch.ai has launched a $10 million accelerator program to empower startups in AI agents, quantum computing and high-performance technology.
The price of Fetch.ai (FET) has slipped below its critical 100-day Simple Moving Average (SMA), raising concerns about the potential for further downside toward the next support level at $1. This breach marks a pivotal moment for the asset, opening the door for negative pressure to take hold. As FET navigates this crucial phase, market participants are closely monitoring its ability to recover above the SMA or risk deeper declines. FET’s recent slip below the 100-day SMA, a significant technical indicator, and its implications for future price movements will be analyzed in this article. It will also explore whether this breach signals a continuation of bearish momentum or a possible recovery, providing insights into key levels and scenarios to watch in the coming days. Analyzing Bearish Momentum: Is A Deeper Decline Likely For FET? FET has fallen below the 100-day SMA on the 4-hour chart, signaling downbeat strength as the price approaches the $1 support zone. This breakdown indicates reduced buyer interest, giving bears control of the market. Holding at $1 could trigger a reversal, while a breach below may lead to more declines toward lower support levels. Also, the 4-hour Relative Strength Index (RSI) has fallen below the critical 50% level, currently at 44%, indicating a shift toward bearish sentiment and growing selling pressure as FET struggles to regain upward momentum. With the RSI under 50%, sellers are taking control, and if the RSI fails to recover above this threshold, the pessimistic trend may continue. Traders should watch for any signs of a reversal or if the price remains under pressure, potentially leading to further drops. Related Reading: FET At Risk Of Further Decline? RSI Signals Sustained Bearish Pressure On the daily chart, FET is showing strong negative strength, highlighted by a bearish candlestick pattern that has pushed the price below the 100-day SMA. This pattern implies that sellers are firmly in control of the market, relentlessly driving the price lower and prompting a strong likelihood of additional drops in the near term. Finally, the 1-day RSI analysis suggests that FET may face extended losses, as it remains below the 50% threshold, reflecting a continued bearish trend. With selling pressure likely dominating, the chances of further declines are high. A recovery above the 50% level could signal a potential reversal, but FET continues to struggle to regain an upward momentum for now. Navigating Risks And Opportunities In FET’s Price Action Navigating the risks and opportunities in FET’s price action requires a careful assessment of key technical indicators and market sentiment. As FET trades below its 100-day SMA and the 4-hour RSI drops below the 50% threshold, bearish momentum is gaining traction, which could signal more downside toward the $1 support range. Related Reading: FET Price Under Pressure: RSI Flags Extended Bearish Move Toward $0.966 However, opportunities for a reversal may arise if the asset manages to hold above key support levels or if buying pressure resurges, driving the RSI back above 50% and reclaiming the 100-day SMA. Meanwhile, this could pave the way for a potential move toward the $1.8 resistance level. Featured image from Medium, chart from Tradingview.com
Injective, the DeFi-centric protocol, has recently made major moves. Besides boasting of high throughput and low fees while protecting traders from maximal extractive value (MEV) bots, the platform has been striking key partnerships. Injective Integrates With Fetch.ai And ASI This week, the proposal by Fetch.ai and the Artificial Superintelligence Alliance (ASI) community to integrate Injective was passed synonymously. The proposal passed with 100% of the votes agreeing with the move. Related Reading: Bitcoin Price Forecast: Analyst Says Expect 98% Crash After Blow Off To $250,000, Here’s Why Looking at voting data, over 324 million FET voted to endorse the idea, with only 656 FET rejecting it. No one voted to abstain or veto. Voting started on October 23 and ended five days later on October 28. According to the proposal, the goal is to revive the expired IBC client for Injective under “Revive expired IBC client for Injective.” In this way, Fetch.ai, now part of the ASI Alliance, can harness the power of AI within the sprawling Injective DeFi ecosystem. This arrangement will allow Fech.ai, an AI-centric platform, to directly plug its machine learning and AI capabilities into the Injective platform. Out of this, users will benefit from streamlined and leveraged AI-enabled tools when trading. The team also said they would benefit from improved liquidity management and asset allocation. Even with this deal, Injective and ASI will continue operating independently. The integration isn’t a merger but an Injective tapping into ASI’s AI capabilities. Why Is INJ Down? Bullish as this may be, INJ prices ticked lower, looking at the events in the daily chart. Injective bulls have yet to reverse losses posted on October 25 comprehensively. Accordingly, despite the series of higher highs over the weekend and in the first half of the week, sellers are in control. So far, INJ is down 20% from October highs and continues consolidating inside a $10 zone. Clear resistance is around $25, while support is at $15. If the bulls of Q1 2024 flow back, momentum will likely pick up once buyers break above the $25 level, preferably with increasing engagement. Related Reading: Bitcoin Consolidates Near ATH – Volume Suggests A Big Move Ahead Besides improving crypto sentiment and rising total value locked (TVL) across DeFi, INJ could benefit from Injective’s core feature. The protocol has the highest revenue-to-fully diluted valuation (FDV) ratio, even better than Ethereum. The high metric translates to Injective boasting of an efficient revenue generation mechanism that could further boost prices. Feature image from iStock, chart from TradingView
Dtravel’s AI agents will bring peer-to-peer rentals to Fetch.AI’s blockchain.
Bitcoin’s rally above $60,000 could trigger buying in FET, SUI, AAVE, INJ and other altcoins.
Cudos joins the ASI Alliance pending a community vote, potentially enhancing its decentralized AI and cloud computing capabilities.
Traders could be waiting for Bitcoin to bounce off the $55,724 support opening positions in LTC, FET, MNT and AAVE.
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. 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: Dogecoin Rally: Over 70% Of Holders Enjoy Profit As Memecoin Climbs 9% 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. 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 in this period by being in the green 43% of the days. Market sentiment towards Fetch.ai is cautiously optimistic. Currently, the Fear and Greed index is 55, which is a Greed sentimentᅳnot too overboard. This would indicate interests in Fetch.ai, though many investors are not getting carried away, and that may prove more sustainable. Related Reading: NEAR: Network Upgrade Gives Token 23% Price Boost – Details Whale Activity And Trading Volume Whale activity has also played a role in the performance of FET recently. A crypto whale has proven to regret a past sale of its FET holdings, Lookonchain reports. The price of $FET has surged 70% in the past 7 days! A whale seemed to regret selling before and spent 2.385M $USDT to buy 1.79M $FET back from #Binance at a higher price of $1.33 6 hours ago This whale sold 2.33M $FET for 2.385M $USDT at $1.02 from Aug 11 to Aug 23.… pic.twitter.com/SNIbPrNp0z — Lookonchain (@lookonchain) August 26, 2024 Over the course of the period beginning on August 11 and ending on August 23, the whale in question unloaded 2.30 million FET for a total of 2.38 million USDT at an average price of $1.02. Particularly noteworthy is the fact that the same whale repurchased almost 1.80 million FET at an average price of $1.33, which demonstrates his confidence in the viability of the asset. Technical Indicators And Future Outlook Fetch.ai is currently Neutral technically, according to CoinCodex. However, the current-forecast price gap is promising: By September 25, 2024, FET should rise 14.23%. This projection and market sentiment suggest investors may consider buying Fetch.ai. Featured image from Pexels, chart from TradingView
SingularityNET, Fetch.ai, and Ocean Protocol officially started their ASI token merger, starting with AGIX and OCEAN being merged into FET.
The post Token merger of SingularityNET, Fetch.ai, and Ocean Protocol goes live appeared first on Crypto Briefing.
Despite Coinbase's decision, users can migrate their AI tokens using self-custodial wallets to join the $7.5 billion merger.
Despite Nvidia, one of the most talked-about stocks of the year, sharply falling in price, artificial intelligence crypto tokens are spiking.
Both AI-tokens Fetch and SingularityNET staged a strong price recovery after a three-month downtrend.
Amid an overall market downtrend, crypto assets based on artificial intelligence (AI) have exhibited substantial gains, fueled by the AI frenzy permeating the traditional finance and crypto markets. This surge has been further augmented by the continuous rally of tech company Nvidia, which recently claimed the world’s most valuable company title, with its soaring share price reaching an all-time high. Fetch.ai Rides Nvidia’s Success Nvidia’s stock, now valued at $3.34 trillion, has nearly doubled in price since the beginning of the year, surpassing the likes of tech giants Microsoft and Apple. This rise has been attributed to Nvidia’s dominance in providing the essential chips required for artificial intelligence, often called the “new gold or oil in the tech sector” by analysts. Amidst these developments, AI-based crypto tokens have emerged as outperformers, overshadowing major cryptocurrencies that have experienced a sharp price correction led by Bitcoin (BTC). According to data from CoinGecko, notable gainers among AI tokens include Fetch.ai (FET), Singularity Net (AGIX), and Ocean Protocol (OCEAN), with gains of 24%, 23.5%, and 22%, respectively, within the past 24 hours alone. Related Reading: Ethereum Price To Hit $10,000, ‘Just The Way The Chips Have Fallen,’ Analyst Says On the one hand, FET experienced a significant recovery and broke its downtrend following a substantial price correction that brought it down to $1.10. Despite being down over 58% from its all-time high of $3.45 in March, blockchain research firm House of Chimera highlights potential real-world use cases for Fetch.ai. For instance, FET’s autonomous agents can optimize logistics by analyzing and predicting optimal routes, thereby reducing costs and improving delivery times. With the growing interest in AI applications in the industry and traditional finance, FET’s AI algorithms analyzing large datasets may lead to further price increases in the coming months. Currently, FET is trading at $1.44 with a market capitalization of $3.6 billion. Long-Term Potential For AI-Based Crypto Tokens Similarly, Singularity Net’s native token AGIX has followed a similar trajectory to FET, reaching a high of $1.46 in March but currently trading 58% lower at $0.6018. However, the underlying uses of the protocol, centered around the creation and monetization of AI services through its AI marketplace, suggest the potential for significant gains and investor interest in the long term. The native token of Ocean Protocol, OCEAN, also displays price actions comparable to those of AGIX and FET. Currently trading at $0.6094, OCEAN has witnessed a trading volume increase of over 20% in the last 24 hours. The protocol’s open-source model aims to facilitate the exchange and monetization of data and data-based services, with notable applications such as running AI-powered prediction bots or trading bots on crypto price feeds. Related Reading: Whales Dump Over $1 Billion In Bitcoin: Fire Sale Or Foreshadowing? Ultimately, Chris Penrose, the global head of business development for telco at Nvidia, firmly believes in future price gains for the entire AI sector, which will further adoption of crypto AI-based tokens. Penrose expressed utmost confidence in the transformative power of generative AI, emphasizing that investors have barely scratched the surface of its impact on businesses worldwide. Wedbush Securities, a renowned financial firm, echoed this sentiment by predicting an intense race in the tech sector. Nvidia, Apple, and Microsoft vied for a significant $4 trillion market cap in the upcoming year. Featured image from DALL-E, chart from TradingView.com
Industry leaders say the delay in the ASI merger to July 15 will not halt progress toward decentralized superintelligence.
The ASI Alliance, including Fetch.ai, SNET, & Ocean Protocol, has postponed the token merger to July 15 to ensure a smooth transition.
The post Fetch.ai, SingularityNET, and Ocean Protocol reschedule token merger for July 15 appeared first on Crypto Briefing.
Tokens of Render, Fetch.ai, SingularityNET and Bittensor slumped 3%-5% despite mostly flat bitcoin and broader crypto prices.
The three AI platforms will complete their token merger on June 13, and the FET token will be renamed ASI two days before.
The ASI Alliance merger finalizes, uniting Fetch.ai, SNET, and Ocean Protocol under a new $ASI token to foster decentralized AI growth.
The post Fetch.ai, SingularityNET, and Ocean Protocol set to finalize token merger on June 13 appeared first on Crypto Briefing.
Nvidia’s strong earnings report didn’t have the immediate effect on AI crypto tokens that traders expected.
This week in the Bitcoin and crypto market promises to be particularly eventful, with several key developments poised to capture investors’ attention. From anticipated regulatory filings shedding light on institutional Bitcoin ETF investments to potential groundbreaking partnerships and innovative mergers in the DeFi and AI sectors, the landscape is ripe with opportunities and challenges. Here’s […]
The incentive program will be available to stakers of the Fetch.ai token starting March 7.