In the midst of a flurry of technology releases and significant community achievements, the AI token FET has emerged as the standout performer in the mid-cap altcoins category. Notably, AI-based cryptocurrencies continue to outshine their competitors across the board.
Over the past seven days, FET, the native cryptocurrency of the AI-driven dApps platform Fetch.AI, has experienced a remarkable surge of nearly 55% in value. As of the latest update, its price has jumped from $0.22 to $0.35 on major exchanges. FET is now on the cusp of breaking into the top 100 cryptocurrencies by market capitalization and is among the top five AI-related cryptocurrencies.
This surge in FET’s value can be attributed to several factors. In recent days, Fetch.AI introduced DeltaV, a chat interface powered by AI that facilitates natural language conversations and independently manages tasks for users. DeltaV is built on various Fetch.AI developments, including AI Engine, AI Agents, and the Agentverse platform.
The early access subscription campaign for DeltaV garnered enthusiastic participation from AI enthusiasts worldwide. Additionally, Fetch.AI collaborated with Techfest, Asia’s largest science and technology festival hosted by the Indian Institute of Technology Bombay, to organize the HackAI hackathon, further boosting interest and engagement in the project.
FET’s price rally coincided with a significant influx of liquidity. This surge in trading volume enabled FET to attain crucial technical analysis levels.
Notably, the AI cryptocurrency segment as a whole has surpassed a market capitalization of $6 billion. Other leading AI-related cryptocurrencies have also demonstrated impressive performance, with AGIX by SingularityNET gaining 31.54% and Injective (INJ) experiencing a 48.06% rally.
According to CoinMarketCap data, the collective market capitalization of the AI crypto segment increased by 4% in the last 24 hours, reaching the $6 billion milestone.
In contrast, over the same period, the rest of the cryptocurrency markets saw a marginal 0.2% decline in overall capitalization.