Fetch

Gains

Fetch.ai

Fetch.AI (FET) has demonstrated remarkable performance in the crypto market today, securing its position among the top-three performers. The asset witnessed an impressive 17% gain within the last 24 hours, marking a significant milestone by crossing the $2 threshold for the first time ever. This surge, propelling Fetch.AI to the 64th place among the top cryptocurrencies by market cap, is a testament to the growing investor confidence and market optimism surrounding its technological advancements and future potential. 
<h2 id="why-is-fetch-ai-price-up-today">Why Is Fetch.AI Price Up Today?</h2> 
This surge in FET’s price can be attributed to a pivotal announcement by the Fetch.AI Foundation, which has evidently ignited investor interest. On March 5, 2024, the foundation unveiled a substantial infrastructure investment with the introduction of “Fetch Compute,” following a $100 million investment aimed at enhancing the development capabilities within the AI economy. 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 Introducing: Fetch Compute <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f5a5.png" alt="🖥" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 Following a $100M investment in our infrastructure, we have secured the future for our growing ecosystem with a decentralized computing platform, offering advanced AI-focused <a href="https://twitter.com/nvidia?ref_src=twsrc%5Etfw" rel="nofollow">@nvidia</a> <a href="https://twitter.com/hashtag/GPUs?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#GPUs</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 But wait, there's more for <a href="https://twitter.com/search?q=%24FET&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$FET</a> stakers! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/i9FYkJnkLZ" rel="nofollow">pic.twitter.com/i9FYkJnkLZ</a> 
 — Fetch.ai (@Fetch_ai) <a href="https://twitter.com/Fetch_ai/status/1765016885383332063?ref_src=twsrc%5Etfw" rel="nofollow">March 5, 2024</a>
</blockquote> 
Fetch Compute’s initiative to deploy state-of-the-art Nvidia GPUs, including the H200, H100, and A100 models, aims to significantly accelerate the pace of innovation within the Fetch.AI ecosystem. This strategic investment, funded through the Fetch Ecosystem Fund, is designed to empower developers and users with the computational power necessary for exploring and developing sophisticated models and solutions, addressing the pressing <a href="https://www.newsbtc.com/news/render-rndr-climbs-60-this-month-keeps-investors-upbeat-with-these-developments/" target="_blank" rel="noopener ">GPU shortage</a> and setting a new standard for the global developer community. 
A novel incentive mechanism was also announced, where starting March 7, 2024, users staking Fetch.AI’s native coin, FET, will be rewarded with Fetch Compute Credits. These credits can be used to access the computing power on the Fetch Compute network, directly benefiting FET token holders and fostering a robust development ecosystem. 
Humayun Sheikh, CEO of Fetch.ai, emphasized the transformative nature of Fetch Compute, stating, “Fetch Compute is not just an infrastructure investment; it’s an investment in the future of AI and the ecosystem of innovative developers who are pushing the boundaries of what’s possible with our platform.” 
Sheikh further elaborated on the significance of this initiative, “By marrying substantial compute resources with our unique compute credit system, we’re ensuring that our community has the support and tools necessary to bring their visionary <a href="https://www.newsbtc.com/news/top-ai-trend-coins-this-bull-run/" target="_blank" rel="noopener ">AI projects</a> to life.” 
This strategic expansion not only enhances the utility of the FET token but also reinforces Fetch.AI’s infrastructure capabilities. The platform’s DeltaV, leveraging Language Models (LLMs) and AI Agents, aims to revolutionize the way users connect with services, thereby redefining the search experience. With the rollout of Fetch Compute, Fetch.AI solidifies its vision of a more intelligent, efficient, and interconnected AI world. 
<h2 id="fet-price-enters-price-discovery">FET Price Enters Price Discovery</h2> 
As the FET price has ascended beyond the $2 mark, it has successfully concluded the bull flag pattern, we discussed in <a href="https://www.newsbtc.com/news/fetch-ai-fet-surges-21-rally-just-getting-started/" target="_blank" rel="noopener ">earlier price analysis</a>, achieving a 290% increase. Now, the price of FET is entering a phase of price discovery. The Fibonacci extension levels may provide insights into potential future directions for the price. Potential price targets are at $3.04 (2.618 Fib), $4.18 (3.618 Fib) and $4.88 (4.236 Fib). 
<img loading="lazy" decoding="async" class="wp-image-596498 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/03/FETUSD_2024-03-06_09-12-59.png?resize=3628%2C1673" alt="Fetch.AI FET price" width="3628" height="1673" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/FETUSD_2024-03-06_09-12-59.png?resize=3628%2C1673?w=3628 3628w, https://www.newsbtc.com/wp-content/uploads/2024/03/FETUSD_2024-03-06_09-12-59.png?resize=3628%2C1673?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/FETUSD_2024-03-06_09-12-59.png?resize=3628%2C1673?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/FETUSD_2024-03-06_09-12-59.png?resize=3628%2C1673?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/FETUSD_2024-03-06_09-12-59.png?resize=3628%2C1673?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/FETUSD_2024-03-06_09-12-59.png?resize=3628%2C1673?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/03/FETUSD_2024-03-06_09-12-59.png?resize=3628%2C1673?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/FETUSD_2024-03-06_09-12-59.png?resize=3628%2C1673?w=1140 1140w, https://www.newsbtc.com/wp-content/uploads/2024/03/FETUSD_2024-03-06_09-12-59.png?resize=3628%2C1673?w=3000 3000w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1">

Fetch.AI (FET) Price Gains Another 15% Following This Big News

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