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Fetch.ai (FET) Ignores Bitcoin-Led Market Slump By Rising 60%

Adopting Blockchain technology in the real world is a slow-moving process that requires the right use cases and an audience willing to try new experiences when venturing outside of their comfort zone.

An increasing number of real-world applications appear to be the factor behind the recent gains seen in Fetch.ai (FET), a protocol focused on building a decentralized, open access, token-based machine learning network, which aims to support the smart infrastructure that is being built around the new digital economy.

Data from Cointelegraph Markets Pro and TradingView shows that, After hitting a low of $ 0.658 on September 6, the price of FET soared 70% to a new high of $ 1.12 on September 7, while its daily trade volume increased 538% to $ 590 million.

4-hour chart of the FET / USDT pair. Source: TradingView

The rapid rise in price and trade volume comes as the project tests a new multimodal transportation application called “Deep Parking”, which is powered by AI and Blockchain technology that helps car drivers locate empty parking spaces.

The protocol also achieved a “world first” on September 7, when an onboard agent of Fetch’s AI successfully interacted with Datarella’s self-contained identity to allow the driver to rent a scooter from TEIR Mobility.

VORTECS ™ data from Cointelegraph Markets Pro began to spot a bullish outlook for FET on September 3, ahead of the recent price surge.

The VORTECS ™ score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trade volume, recent price movements, and Twitter activity. .

VORTECS ™ score (green) vs. FET price. Source: Cointelegraph Markets Pro

As seen in the graph above, FET’s VORTECS ™ score began to rebound on September 3, peaking at 71 around 48 hours before its price began to rise 70% in the next two days.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Each investment and commercial movement involves risks, you must do your own research when making a decision.

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Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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