- The FET token of the Artificial Superintelligence Alliance experienced a remarkable increase of 16% after key updates were introduced in its ecosystem.
- These updates comprise enhanced cross-chain interoperability with Cardano and improvements to the Fetch.ai wallet.
FET’s Quick Surge in the Last 24 Hours
The Artificial Superintelligence Alliance (FET) continues to establish itself as a promising investment option within the realm of artificial intelligence (AI) tokens. On September 10, the cryptocurrency displayed a notable increase in price, rising approximately 16% from a low of $1.13 to a peak of $1.31 in just 24 hours.
By Tuesday afternoon, FET had stabilized, showing a more than 13% gain over the day, trading at $1.30. This price surge was accompanied by an impressive 86% spike in trading volume, with over $261.07 million worth of tokens exchanged between wallets. As a result of these advancements, the circulating supply of 2.63 billion tokens contributed to a market capitalization of $3.27 billion.
A broader view of the charts indicates that FET has recorded a 10% increase in price over the past week. Additionally, its value has surged by over 42% and a staggering 468% over the past month and year, respectively.
Despite the recent price fluctuations, FET remains 62% below its all-time high of $3.47, reached five months ago.
What’s Driving the FET Surge
The recent rebound of Bitcoin (BTC) near the $58K level has certainly created a ripple effect across the cryptocurrency market this Tuesday, helping to alleviate some of the prevailing uncertainty. FET has, in part, benefited from this positive trend.
Interestingly, FET does not significantly depend on Bitcoin’s movements. While it typically aligns with other AI-focused tokens, particularly Bittensor (TAO), it has recently diverged from this trend, with its gains stemming from major updates within its own ecosystem.
Collaboration Between Artificial Superintelligence and SingularityNET
The Artificial Superintelligence Alliance has recently partnered with SingularityNET to implement the FET native token on the Cardano network. This collaboration not only broadens the cross-chain functionalities of FET but also fortifies its commitment to developing a decentralized and ethical AI ecosystem powered by Cardano’s robust infrastructure.
The launch of the native Cardano version of FET replaces the AGIX native token previously used on the Cardano blockchain. This transition provides significant advantages to users, allowing for direct conversion of AGIX to FET, streamlining the migration process for holders on Cardano.
Additionally, it introduces enhancements to the existing Ethereum-Cardano bridge of SingularityNET, facilitating smooth transfers of FET between the two networks while boosting the token’s liquidity and making it more accessible for users.
Updates to the Fetch.ai Wallet
Today, the Fetch.AI team announced the release of the v1.0.2 update for its wallet. This upgrade incorporates new branding, governance, security, performance, management, and currency support features into the platform.
With this upgrade, users can now participate in governance voting. They also gain access to an auto-lock feature that automatically restricts access to their wallets when the app is minimized or closed.
Moreover, the update enhances stability and performance to mitigate random crashes for iOS users, provides a new interface for easier management of various transactions, and expands support for additional currencies.
