The Fetch.ai (FET) token has experienced a notable price increase of 8.46% in the last 24 hours, reaching a value of $0.718. This surge has drawn significant attention from investors and market analysts. Trading volume for FET during this period reached $17 million, contributing to a market capitalization of $1.925 billion. This places FET at the 41st position among all cryptocurrencies by market cap.
Over the past day, the token reached a high of $0.72 and a low of $0.654. The circulating supply of FET stands at 2,395,024,690 tokens.
What Is Fetch.ai?
Fetch.ai is an innovative blockchain project focused on connecting Internet of Things (IoT) devices and algorithms to enable collective learning. Founded by a team based in Cambridge, UK, in 2017, the platform is built on a high-throughput sharded ledger and supports smart contract functionality. It aims to provide tools for deploying machine learning and artificial intelligence solutions in a decentralized manner, helping users build infrastructure and commercial models on an open-source framework.
FET Historical Performance Analysis
Understanding the mid-to-long-term performance of an asset can provide valuable context for investors. Below is a summary of FET's recent price changes:
- Past Week: +1.21%
- Past Month: -14.81%
- Past 3 Months: +54.76%
- Past 6 Months: -51.84%
- Year to Date: -49.43%
This mixed performance highlights the token's volatility but also its potential for recovery and growth within certain periods.
How Fetch.ai Works and Its Use Cases
Fetch.ai utilizes autonomous economic agents to perform tasks on behalf of users. These agents can communicate, trade, and negotiate with each other, creating a decentralized digital economy. Primary use cases include:
- DeFi Applications: Facilitating decentralized finance operations such as lending and trading.
- Supply Chain Logistics: Improving transparency and efficiency in goods tracking.
- Smart Cities: Enabling smarter infrastructure management through connected devices.
- Data Exchange: Allowing secure and transparent buying and selling of data.
These applications make Fetch.ai a significant player in the convergence of AI and blockchain technology.
Key Factors Influencing FET's Price
Several elements can impact the price of FET, including:
- Market Sentiment: General trends in the cryptocurrency market often affect individual tokens.
- Technological Developments: Updates or new features on the Fetch.ai network can drive investor interest.
- Partnerships: Collaborations with other companies or blockchain projects can positively influence value.
- Adoption Rate: Increased use of Fetch.ai’s technology in real-world applications boosts its utility and demand.
For those looking to dive deeper into token analytics and real-time data, you can explore more strategies available on advanced platforms.
Frequently Asked Questions
What is Fetch.ai?
Fetch.ai is a blockchain platform that combines artificial intelligence and machine learning to create a decentralized network for autonomous economic agents. It aims to enable smart infrastructure solutions across various industries.
What factors caused the recent price increase of FET?
While short-term price movements can be influenced by general market trends, specific factors such as recent network upgrades, positive news, or increased trading activity may have contributed to this surge. Always refer to multiple sources for comprehensive market analysis.
How can I stay updated on FET price changes?
Using reputable cryptocurrency tracking websites and apps that provide real-time alerts and detailed charts is recommended. These tools help monitor price movements, trading volume, and market cap fluctuations.
Is Fetch.ai a good long-term investment?
Like all cryptocurrencies, FET carries investment risks. Its long-term value will depend on the adoption of its technology, overall market conditions, and its ability to deliver on its roadmap. Conduct thorough research and consider your risk tolerance before investing.
What is the total supply of FET tokens?
The circulating supply of FET is approximately 2.4 billion tokens. The total maximum supply is fixed, which can impact its scarcity and value over time.
Where can I learn more about decentralized AI projects?
Many educational resources and communities focus on the intersection of AI and blockchain. To get started, view real-time tools that offer insights and analytics on this emerging sector.