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Some have called fetch.ai one of the most amazing cryptocurrencies of the year (FET). FET price forecasts for 2023 suggest a significant increase in the year’s second half, possibly exceeding $0.724.
Similar to other cryptocurrencies, the price is expected to rise gradually, with no substantial drops expected. Considering expected collaborations and advancements, an average price of $0.676 is workable soon. A minimum of $0.579 should be expected for FET.
Currently, the price of Fetch.ai is $0.475, ranking #100 in the entire crypto ecosystem according to the latest data collected. With a market cap of $418,943,493, Fetch.ai has a circulation supply of 818,912,300.
By February 13, 2023, the value of Fetch.ai is predicted to rise by 67.86% and reach $0.853. A 58 (Greed) is displayed on the Fear & Greed Index, showing bullish sentiment. Over the past 30 days, fetch.ai recorded 18/30 (60%) green days and 26.03% price volatility.
27 technical analysis indicators show bullish signals, while 5 show bearish signals, with data from February 08, 2023, showing a general bullish price prediction sentiment.
The 200-day SMA for Fetch.ai could rise next month, reaching $0.245 by March 10, 2023, according to our technical indicators.
By March 10, 2023, the short-term 50-Day SMA for fetch.ai could reach $0.69.
How Does FET Work in Tokenomics?
Within the fetch.ai ecosystem, FET is the native token and the primary medium of exchange.
As per the team, the FET token was initially developed as an Ethereum ERC-20 token. They developed a native version of FET after the fetch.ai mainnet was launched.
Here are a few examples of how FET is used:
- Paying for fetch.ai services
- Gas or network transaction fees
- Staking
- Block rewards
There are about 3.4 billion FET tokens available. Data from CoinMarketCap shows that over 818.9 million FET tokens were in circulation on January 11, 2023, representing 24% of the maximum supply.
Approximately 17.4% of FET’s max supply has been set aside for future releases, according to Binance Research. Founders, foundations, advisors, and token sales accounted for approximately 67% of the supply.
What Makes FET Different from its Competitors?
A truly decentralized and permissionless ecosystem distinguishes the FET network from rival platforms. Besides speed, scalability, and security, human involvement characterizes blockchain technology. Prior distributed decentralized architectures were more convenient and quicker for human actors to secure desired agreements.
Fetch.ai, however, asks the fundamental question: What if they could minimize human interaction? That’s what makes the AI-driven FET network tick. These entities act as rational economic actors, directly negotiating contractual terms with autonomous economic agents (AEAs) that the project refers to as autonomous economic agents (AEAs). By doing so, AEAs eliminate the need for intermediaries.
Additionally, the Fetch.ai network commands relevance across various industries and applications. A few examples of these technologies include smart homes and cities, decentralized finance, supply chain, commodity exchange, automated AI-based travel agents, and traffic congestion and train systems.
What to Expect with Fetch.ai (FET)
Are we going to see another all-time high in FET? Our team scouted for the best price predictions and drew our own. It is important to remember that this is not investment advice and you should conduct your own research before investing.
As artificial intelligence makes its mark in the automation and transport market, FET is a bridge between it and blockchain technology. The network’s success is also determined by the number of individuals that join it.
To trade effectively, examine a token’s fundamentals and technical aspects before investing.
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