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With its impressive price increase, the Artificial SuperIntelligence Alliance (FET) token is making headway in today’s market. Since the trio of Fetch.ai, Ocean Protocol, and SingularityNET merged their tokens, the last seven days have been some of the most profitable for FET holders. The token has risen by over 62% during this period, erasing its monthly losses.
FET and the embrace of the whales
Timing the market is a crucial resource for traders. Investors need to get in early enough to catch the best price rallies. Crypto analytics platform Lookonchain shared insights on a whale that missed the FET rally last week.
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This whale sold 2.33 million FET for 2.385 million USDT at $1.02 from August 11 to August 23. Specifically, to offset this early sell-off, this whale sold 2.385 million USDT to buy back 1.79 million FET from Binance at a higher price of $1.33 six hours ago.
This makeup purchase could ultimately pay off as FET price is up 10.97% in 24 hours to $1.33. Sentiment on FET is growing very quickly, and in the last hour before writing, we have seen a 3% increase.
With NVIDIA’s earnings report looming, the return of focus on AI tokens is understandable. As an exciting technology, AI could redefine the pursuit of crypto, and the Artificial SuperIntelligence Alliance is positioning itself to capture a huge market share.
The altcoin season could start soon
Beyond FET, many altcoins are expanding their ecosystem reach to double their overall growth. Shiba Inu, for example, announced its plans to introduce a DAO governance innovation to further its pursuit of decentralization.
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There has also been excitement in the XRP community about an upcoming documentary that could redefine the coin’s prospects. Overall, there are different predictions in the altcoin market for an upcoming rally. FET could lead this trend with its current performance.
