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Fetch.AI (FET) up 24%, Here are Two Key Reasons Driving Price Growth

Mon, 02/06/2023 - 08:50
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Godfrey Benjamin
Fetch.AI has maintained healthy weekly growth on heightened protocol embrace
Fetch.AI (FET) up 24%, Here are Two Key Reasons Driving Price Growth
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Despite the perceived bearish slump in the broader crypto ecosystem today, Fetch.AI (FET) is standing tall. According to data from CoinMarketCap, the digital currency is up by 24.47% at the time of writing to $0.4196. Per its current price action, the AI-focused protocol is up by more than 49% in the week-to-date (WTD) period.

FET-USD Price Chart
Image Source: CoinMarketCap

That Fetch.AI is leading the altcoin momentum today does not really come as a surprise. It complements the fact that digital currency is known to have a high volatility that is often positively skewed, and it recorded a unique milestone that is helping to drive current sentiment.

Fetch.AI recently revealed its weekly roundup, in which it said it recorded more than five million transactions on its mainnet. This milestone is a significant one, as it shows more users are adopting and making use of its products, which also have a very positive impact on the FET token.

Related (FET) up 28%, Three Reasons Why Its Price Is Blowing Up

Fetch.AI is designed as a platform that democratizes access to AI technology with a permissionless network, upon which anyone can connect and access secure datasets by using autonomous AI to execute tasks that leverage its global network of data. With its scheduled upgrades thus far, the protocol seems to be living up to its potential.

Growing ecosystem publicity

Another key reason fueling the ongoing sentiment regarding the price of Fetch.AI is the growing publicity of its ecosystem.

As a revolutionary project, Fetch.AI has been committing time and resources to educate its community on the potential of the protocol. With a series of AMAs and Twitter Spaces sessions with its core experts, the protocol is striving to drive home the awareness and understanding of its tech and how to use its products.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.