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With its impressive price surge, the Artificial SuperIntelligence Alliance (FET) token is making headway on today's market. Since the trio of Fetch.ai, Ocean Protocol and SingularityNET merged their tokens, these past seven days have been among the most profitable for FET holders. The token has jumped by over 62% within this period, paring off its monthly losses.
FET and whale embrace
Market timing is a crucial resource for traders. Investors need to get in early enough to catch the best rallies. The crypto analytics platform Lookonchain shared insights about a whale that missed the FET rally over the past week.
Arman ShirinyanThis whale sold 2.33 million FET for 2.385 million USDT at $1.02 from Aug. 11 to Aug. 23. To compensate for this early sell-off move, this whale notably sold 2.385 million USDT to buy 1.79 million FET back from Binance at a higher price of $1.33 six hours ago.
This makeup purchase may eventually pay off, with the price of FET jumping 10.97% in 24 hours to $1.33. FET sentiment is growing very fast, and in the past hour before writing, we have seen a 3% surge.
The return of focus on AI tokens is understandable, considering the coming NVIDIA earnings report. As a buzzing technology, AI might redefine the pursuit of crypto, and the Artificial SuperIntelligence Alliance is positioning itself to take a huge market share.
Altcoin season might come soon
Beyond FET, many altcoins are advancing their ecosystem reach to double down on their growth overall. Shiba Inu, for instance, announced its plans to roll out a DAO governance innovation to advance its pursuit of decentralization.
Yuri MolchanThe XRP community was also abuzz regarding a forthcoming documentary that might redefine the coin’s outlook. Overall, the altcoin market has different predictions of an impending rally. FET might be leading this trend with its current performance.
Alex Dovbnya
Vladislav Sopov
Dan Burgin