In this post:
- FET has surged by over 70% in the past week.
- The price spike is fueled by Fetch.ai’s announcement of an Innovation Lab in San Francisco.
- A crypto whale, who previously sold FET at a lower price, has repurchased 1.79 million FET tokens.
Artificial Superintelligence Alliance (FET) emerged as one of the biggest gainers over the last week, outperforming the biggest cryptos like Bitcoin (BTC), Solana (SOL) and TRON (TRX). FET price has surged by more than 70% in the last 7 days.
FET price recent spike comes in as Fetch.ai is launching an Innovation Lab in San Francisco, California to push the boundaries of AI technology. It is expected to be a playground for early-stage startups developing AI agent solutions.
FET jumps 7% in 24 hours
Recovering from the heavy selling pressure, FET managed to get back on track posting the biggest gains among the top AI cryptos. Artificial Superintelligence Alliance price is up by over 6% in the last 30 days while Near Protocol (NEAR) and Internet Computer (ICP) have taken a hit of 14% each.
FET added another 7% of gains in the last 24 hours. On the other hand, NEAR and ICP printed red indexes despite registering a 25% and 18% jump over the past 7 days. FET is trading at an average price of $1.35, at the press time. Its 24 hour trading volume is up by 40% to stand at $293 million.
Whale regrets early load-off
As per the data shared by Lookonchain, a crypto whale seems to be reconsidering its position over FET price. The whale regretted its selling decision and spent 2.38 million USDT in order to buy 1.79 million FET tokens from Binance and that too at a much higher price.
The whale made the recent accumulation at the average price of $1.33, while, it sold 2.33 million of its FET holdings for 2.385 million USDT at a lower price of $1.02 from August 11 to August 23. FET is up by 70% in the past 7 days.
Fetch.ai announced of creating the launch of its Innovation Lab in San Francisco. It is setting aside $10 million annually to help startups build on their platform. It is reportedly planning to invest up to $1 million per project. They’re also rolling out an internship incubator for those eager to dive into decentralized tech, AI, and machine learning. With the AI agent market set to hit $88.1 billion by 2032, Fetch.ai is moving ahead to gain an advantage in the market.
