• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
crypto

Crypto Whales Take Fetch.AI Bait Of 135 Million FET Tokens As AI Ecosystem Expands

Christian Encila by Christian Encila
1 month ago
in Cryptocurrency news
Reading Time: 3 mins read
Advertisement

Artificial intelligence crypto FET has been growing in popularity lately. According to Coingecko, the governance token of Fetch.ai is up almost 53% in the monthly time frame. This can be attributed to the fast growth of artificial intelligence technology today.

According to recent research, the AI industry is expected to grow by 22% from this year to 2027 as a result of increasing popularity of artificial intelligence applications.

Big tech companies have also invested heavily in AI, with Microsoft shelling out billions to OpenAI’s ChatGPT.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

AI-related tokens have seen massive growth as seen on FET’s impressive price movements. 

Whales Dive Into The Scene

Much like tech companies, cryptocurrency whales have entered the AI space through the emergence of AI tokens. Some $61.2 million, or equivalent to 135 million FET, was transferred to an existing whale address on Valentine’s Day.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

According to Santiment’s recent tweet, the whale address that accumulated so much of FET is also known to hold more than $224 million worth of Ethereum. These large whale transactions are an example that investors in crypto are highly interested in AI tech and blockchain. 

🦴 #FetchAi now the #102 asset by market cap in #crypto after skyrocketing +395% in 2023, has seen its largest transaction in 567 days. $61.2M worth of $FET has been transferred to an existing whale address, which also holds 224.46M in $ETH. 👀 https://t.co/TYjwlxJpYf pic.twitter.com/JNsYSgo3PO

— Santiment (@santimentfeed) February 15, 2023

With big companies investing in AI companies, investor interest in AI tokens is expected to increase in the coming years. 

FET @ $0.4304 – Would The Crypto Continue Its Climb? 

The current upwards movement of the token is currently being stopped by FET’s $0.6007 resistance. For the token to resume its bullish price movement, prioritizing the breakthrough on this resistance is a must. However, the recent whale transaction didn’t trigger a strong upwards movement. 

Today, February 17th, the token is trading at a red candle. If the bearish momentum continues, a retest of the $0.3864 support is inevitable.

But with AI-related tokens being so popular lately, we might see a continuation of FET’s bullishness in the medium to long term. 

Not to mention the increasing use cases of AI, investor interest will increase alongside it further boosting the momentum of the bulls.

Crypto total market cap at $1 trillion on the daily chart | Chart: TradingView.com
Related Reading: Shiba Inu Whale Scoops 50 Billion SHIB In Single Day After Earlier Ditching Bigger Amount

For now, investors and traders should focus on defending the $0.3864 support in the short to medium term. Watching the movement of major cryptocurrencies like Bitcoin and Ethereum will also benefit them as FET is somewhat correlated with them. 

If the bulls are successful in defending the token’s current support, targeting $0.6007 will be a breeze. A breakthrough on this level could open the $0.7334 resistance for the bulls. 

-Image by Jeff J Mitchell/Getty Images

Tags: AIArtificial IntelligenceCrypto WhalesFET tokenfetch.ai
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Christian Encila

Christian Encila

Related Posts

Pooky, The NFT Football Prediction Game That Pays, Launches Today

Pooky, The NFT Football Prediction Game That Pays, Launches Today

10 hours ago
Bitcoin

Bitcoin Price Action Mirrors Q1 2021, Volatility Ahead?

22 hours ago
Ethereum (ETH) number of addresses surges

Number Of Ethereum Addresses In Profit Hits 10-Month High As ETH Continues Rally

24 hours ago
Bitcoin

Bitcoin Coinbase Premium Continues To Decline, Buying Pressure Ending?

1 day ago
Ethereum bull

On-Chain Data Indicates Ethereum’s Bullish Trend Could Continue

1 day ago
Bitcoin

Quant Explains How Bitcoin ‘ESR’ Can Act As Leading Indicator For Price

1 day ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

ShibaLauncher: First Community Driven Launchpad on Shibarium Opens Token Pre Sale To SHIB Holders

March 25, 2023

As the competition in the derivatives market heats up, BitMake is poised to stand out

March 25, 2023

BNB (BNB) Stagnates, Collateral Network (COLT) Presale Takes Off, And Avalanche (AVAX) Loses Ground

March 25, 2023

Don’t Be Slow! TMS Network’s (TMSN) Presale Is Selling Out Fast As Aptos (APT) And Avalanche (AVAX) Fall To A New Low

March 25, 2023

IBC Group Incubates Chirpley, Pioneering a New Era of Digital Marketing with Nano-Micro Influencer Marketplace

March 25, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.