Key Takeaways
- Based on data from June 29, 2024 at 08:11, the general Fetch.ai price prediction sentiment is bearish , with 6 technical analysis indicators signaling bullish signals, and 24 signaling bearish signals.
- Fetch.ai price is positively correlated with the top 10 coins by market cap with a price of 0.385, excluding Tether (USDT) and positively correlated with the top 100 coins by market cap excluding all stablecoins with a price of 0.154.
- The FET/USD pair was down 36.61% in June. Its 1-year performance is 548.85%.
FET has already stepped back from its yearly peak, and may have a reason for another rally. The token’s narrative may boost its position in a market that is seeking active tokens and altcoins among stagnant assets.
Cryptopolitan
Fetch.ai (FET) rallied and then corrected ahead of the long-awaited merger with Ocean Protocol and SingularityNET. FET expanded to $1.80 before erasing some gains. The main reason for the continued rise is that FET would now represent all three projects, trading under one ticker. FET will become a central and prominent AI narrative token, expecting to be rebranded into ASI in the second stage of the merger.
In recent years, the world has witnessed many outstanding technological inventions. However, only a few are as peculiar and intriguing as the Fetch.ai network, a blockchain project employing artificial intelligence (AI). FET continued rising on Wednesday, reaching a peak above $1.80. The token rose along with one last rally for OCEAN. The main reason is that FET would now represent all three projects, trading under one ticker.
We curated this guide to provide extensive details on Fetch.ai, its network, native token FET, its price overview, technical analysis, and price predictions for 2024-2030. Let’s go through the background of its native token, and determine whether to include FET in your investment portfolio based on what you’ve learned from the Fetch.ai price predictions.
Read: Fetch.ai rallies ahead of rebranding, merger with Ocean Protocol and SingularityNET
Technical Analysis of Fetch.ai
Fetch.ai is based on the Cosmos-SDK and is equipped with a high-performance WASM-based smart contract language (CosmWasm). Fetch.ai network performs various operations to produce consensus using a mix of proof of stake (“PoS”) and a protocol. The PoS protocol creates new blocks, with the transaction order defined by the work performed between two blocks. A directed acyclic graph (DAG) that builds between the blocks is used to record this effort. The importance of this protocol is explained here.
Based on our technical indicators, Fetch.ai’s 200-day SMA will rise next month and hit $ 1.738174 by Jul 29, 2024. Fetch.ai’s short-term 50-Day SMA is estimated to hit $ 1.556678 by Jul 29, 2024.
The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 45.19, indicating that the FET market is neutral.
Recent News on Fetch.ai
Fetch.ai to become multi-chain
In the future, Fetch.ai will lead its partners to multi-chain options. The first foray into new chains will involve BSC and the less common choice like Cardano. Fetch.ai’s niche is AI agents, similar to projects like Phala, Marlin, or Polywrap. AI agents are also based on trained models but focus on decisions and negotiations. Fetch.ai has the ambitious task of creating a decentralized environment where AI agents can interact with each other.
Coinbase to leave FET, OCEAN holders without automated merger
Fetch.ai has negotiated with most exchanges to merge FET and OCEAN tokens from July 1. However, Coinbase will not automate the merger. Instead, users on Coinbase may have to withdraw their tokens to Coinbase Wallet to swap the assets.
Fetch.ai: Blockchain and Artificial Intelligence
Fetch.ai was founded in 2017 by a UK-based developer team consisting of Toby Simpson, Thomas Hain, and Humayun Sheikh. On February 25, 2019, The project was launched via the Binance Launchpad platform, recording over $6 million in the sale of its utility token FET.
Fetch.ai aims to create a digital representation of a real economy. This blockchain platform consists of three vital components: autonomous economic agents(AEAs), Open Economic Framework (OEF), and the Fetch smart ledger.
As the name implies, autonomous economic agents are software capable of making independent decisions for themselves or their users in order to generate economic value. By employing artificial intelligence, these software agents can independently conduct a productive decision-making process directed toward well-defined goals stated by their users.
Autonomous economic agents can sell, buy, or negotiate deals on behalf of Fetch.Ai users. They execute such actions using a set of skills referred to as specialized software modules. With Fetch.ai, users can retain control over their data, as AEAs eliminate the need for unnecessary middlemen or intermediaries.
Furthermore, Fetch.ai operates an Open Economic Framework (OEF) in which users’ data can be traded among agents within the digital ecosystem using the Fetch.Ai native token FET. The OEF makes Fetch.ai a valuable innovation for data analysts or market experts tasked with providing information required to improve services.
However, all of Fetch.ai’s operation depends on the Fetch smart ledger, a blockchain innovation that integrates distributed ledger technology(DLT) with a directed cyclic graph(DAG). The Fetch smart ledger connects to the AEAs via machine learning and manages the market intelligence needed for the agents to operate. The Fetch smart ledger records all transactions on the Fetch.ai network; thus, it is responsible for safeguarding its integrity and reputation.
The Tech Behind the Fetch.ai Ecosystem
The infrastructure of Fetch.ai is built using multi-agent systems, a branch of artificial intelligence, allowing agents built by different developers for different purposes to interact productively with each other.
Although these agents are not designed to function as a single system, they innovate ways to cooperate and work together, thus promoting human-like behavior among agents within the Fetch.ai ecosystem.
While the Fetch.ai technology revolves around agents, the technology can be used to develop blockchain projects. These projects are part of the Fetch.ai ecosystem. They include:
- CoLearn: a blockchain-based collective learning module that enables multiple parties to collaborate on building machine learning models without any party having information on the other.
- Mettalex: the first decentralized exchange designed for traditional and crypto commodity derivatives.
- Resonate: a blockchain social network that employs artificial intelligence to provide a safe social experience for NFT enthusiasts. This application also features a unique NFT marketplace.
Other projects in the Fetch.ai ecosystem include Statfleit, Catena-X, Mobix, Atomix, and Axim.
Use Cases of Fetch.ai
There are various use cases of Fetch.ai due to the benefits of autonomous economic agents (AEAs). These applications include transportation and mobility, supply chain, decentralized finance, social networks, e-commerce, marketplaces, and e-commerce systems.
Utility of the Fetch.ai token
FET is an ERC-20 token, and it operates as the utility token of the Fetch.ai network with a range of uses:
- Transactions fees: FET is used to pay all transaction fees on the Fetch.ai network.
- Activation of AEA: While Fetch.ai allows developers to create agents, a certain amount of FET must be deposited to incorporate the software agent into the Fetch.ai ecosystem.
- Payment of services and data: On Fetch.ai, FET acts as the medium of exchange for all business transactions between agents.
- Staking: Fetch.ai users can stake FET via the network consensus algorithm to operate as validator nodes. Doing so, they contribute to network security while earning rewards on their staked coins.
- Investment tool: Like many cryptocurrencies, FET can be acquired to make a future profit as the coin gains value.
If you’re interested in buying FET, this token is traded on various exchanges, including Binance, Coinbase Exchange, KuCoin, and Gate.io.
Fetch.ai Price Prediction by Cryptopolitan
| Year | Yearly Low | Yearly High |
|---|---|---|
| 2025 | $ 1.33 | $ 1.68 |
| 2026 | $ 1.27 | $ 1.50 |
| 2027 | $ 1.27 | $ 1.48 |
| 2028 | $ 1.33 | $ 2.72 |
| 2029 | $ 1.70 | $ 2.64 |
| 2030 | $ 1.56 | $ 2.18 |
Fetch.ai Price Prediction 2025
According to our Fetch.ai price prediction for 2025, FET is expected to trade at a maximum price of $1.68. In addition, the average trading price of the token is predicted to be $1.51, with a minimum price of $1.33.
Fetch.ai Price Prediction 2026
Our Fetch.ai price prediction for 2026 is that FET will reach $1.27 as its lowest price. As per our findings, the FET price could reach the maximum price of $1.50 with an average forecast price of $1.39.
Fetch.ai Price Prediction 2027
In 2027, our Fetch.ai price prediction expects the FET cryptocurrency to reach a minimum price of $1.27, with an average forecasted price of $1.46. The maximum price of the coin is expected to be $1.48.
Fetch.ai Price Prediction 2028
According to our Fetch.ai price prediction for 2028, FET is projected to attain a maximum value of $2.72 and an average trading price of $2.05 before the end of the year. However, the digital currency may trade at a minimum value of $1.33.
Fetch.ai Price Prediction 2029
According to Fetch.ai’s price prediction for 2029, the FET cryptocurrency might potentially attain a maximum price of $2.64. However, it is also essential to know that the coin is projected to trade at a minimum value of $1.70 and an average forecast price of $2.17.
Fetch.ai Price Prediction 2030
Our Fetch.ai price prediction for 2030 is that FET will slow down its momentum. The cryptocurrency is expected to trade at a maximum value of $2.18 and an average forecast price of $1.87. FET might also experience its lowest possible trading price at $1.56.
Fetch.ai Price Predictions by Top Analysts
Fetch.ai is a blockchain-based machine learning and AI platform built to improve the cryptocurrency economy. It provides an open, permissionless, decentralized network to achieve this goal. The project has successfully met its objectives—users can now leverage Fetch’s global data network to execute tasks with the help of AI, enabled by Fetch’s Digital Twin Metropolis and Open Economic Network. FET tokens are used to validate and power these processes.
According to CoinCodex, FET is forecasted to trade between $ 1.401689 and $ 1.408594 this week. If it reaches the high-value target, Fetch.ai will increase by 0.49% and reach $ 1.408594 by Jul 01, 2024.
Fetch. AI’s token, FET, is a promising candidate for substantial growth. As of press time, trading below $2.50, FET has shown a remarkable year-to-date increase of 226.99%. Analysts are optimistic, predicting its value could quadruple by year-end, potentially reaching as high as $10.
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