top of page

FET's Recent Surge: Are Whales and NVIDIA Linked to Fetch AI's Rise?



Fetch.ai, an open-access decentralized machine learning blockchain network, aims to reshape the digital economy by eliminating human interference. This innovative platform interconnects devices, services, and various agents, including people, to foster a new era of decentralized digital economy powered by artificial intelligence. In this article, we explore Fetch.ai's core features, its potential impact on various industries, and what sets it apart in the blockchain space.


What is Fetch.ai?

Fetch.ai serves as a comprehensive ecosystem for building a decentralized digital economy fueled by AI. It facilitates the seamless sharing of data and collaboration among a diverse range of agents, shaping an economy driven by suppliers and consumers. The ecosystem comprises various agents and ecosystems, each serving distinct purposes and use cases.


Founded in 2017 in Cambridge, UK, Fetch.ai is the brainchild of co-founders Toby Simpson, Humayun Sheikh, and Thomas Hain. Humayun Sheikh serves as the CEO, Toby Simpson as the COO, and Thomas Hain as the Chief Science Officer. Their vision was to create an autonomous environment powered by AI, connecting diverse entities within a unified network.





Industry Applications of Fetch Ai and the FET token

The potential applications of Fetch.ai are vast and varied, thanks to its integration of AI. Some of the sectors that Fetch.ai can optimize include smart cities, supply chains, transportation, smart parking, energy management, smart homes, and collective learning, among many others. Its AI capabilities enable intelligent machine learning and data sharing, offering innovative solutions to everyday challenges.


The Components of Fetch.ai:

Fetch.ai's architecture relies on three essential elements:


1. Autonomous Economic Agents (AEAs):

These digital citizens within the Fetch.ai ecosystem represent devices, services, organizations, and individuals. AEAs leverage machine learning and AI to enhance their performance, learn from past experiences, and provide more efficient solutions. They connect to data sources and hardware environments, capitalizing on Fetch.ai's predictive capabilities.


2. Open Economic Framework (OEF):

Serving as the connectivity layer, the OEF facilitates interaction among AEAs. It stores data and information, all supported by AI. Nodes within the network receive token-based rewards for mediating between AEAs and the OEF, fostering data exchange and collaboration.


3. Fetch Smart Ledger:

This innovative blockchain structure combines distributed ledger technology with a directed acyclic graph. It processes all transactions on the network through sharding, ensuring efficient and secure data handling.


Crypto Whales Accumulate 18M FET Tokens:

FET's performance throughout September had been less than stellar. However, a surge in whale activity this week was witnessed, with whale investors holding balances ranging from 1 million to 10 million FET tokens making aggressive purchases. The whale wallets held 302.24 million FET as of September 19, which increased to 320.84 million FET by September 26. Notably, this buying spree of 18.6 million FET tokens coincided with a noticeable rebound in NVIDIA stock prices.


The 18.6 million tokens recently acquired by FET whales have a value of approximately $4 million. Historical trends suggest that the buying activity of these whales can significantly impact FET prices, potentially sparking a bullish reversal in the weeks ahead.





NVIDIA's $1 Trillion Market Cap Gain

NVIDIA Shares have seen a MASSIVE rise of more than 85% compared to the start of the year and 258% over the past 12 months. The company added a record $272 billion in market value in a single day in February after its earnings topped Wall Street’s high expectations.


The growth of NVIDIA has been greatly fuelled by the use of AI in their development of chips increasing both the sizes and efficiency of the chips, Their announcement of the new AI chip during their event this March 2024, only ads to this as competitors are left clueless trying to play catch up. This rise doesn''t end here, as more and more people gain confidence in the use cases of Artificial intelligence, more people are more inclined to invest or buy tokens in the AI field of crypto.





This is just the beginning for this very young and ripe market, as hundred of people around the world are joining and buying in. It's only up from here.


What is the Future for Fetch Ai ? Superintelligence Alliance $ASI

Fetch AI, Singularity and Ocean Protocol announced their plan to unite the major Players in the Fireld of AI to form the Superintelligence $ASI. This joining of forces is a major move that will place them ahead of the competition.




People from all around the world are waiting and excited to see the future developments of this development, for more updates Stay Tuned!.


References:

Bloomberg:


Yahoo Finance:


Calcalis tech


Comments


bottom of page