Fetch.ai Price Predictions: What’s Next for FET Crypto?
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Even as the cryptocurrency market finds itself digesting broader financial data, a blockchain project is powered by artificial intelligence Fetch.ai (FET USD) is not waiting for an invitation to bullishness. Over the past 24 hours, the underlying FET token has rallied around 25%, scorching most competing digital assets. At the time of writing, only two other cryptos have outperformed FETs in the past 24 hours. Naturally, this sparked a discussion about Fetch.ai price predictions.
Fundamentally, the FET network differentiates itself from rival platforms with a truly decentralized and permissionless ecosystem. While advances in blockchain technology focus on the core values of speed, scalability and security, they share a common motif: human involvement. That is, previously distributed decentralized architectures enabled human actors to secure desired agreements faster and more conveniently.
However, Fetch.ai asks the fundamental question: What if human interaction could be reduced to a minimum? It is essentially the heart of the AI-powered FET network. Using what the project refers to as autonomous economic agents (AEA), these entities operate as rational economic agents, directly negotiating the proposed terms of contractual agreements. In this way, the AEAs eliminate the need for intermediaries.
Moreover, the Fetch.ai network has relevance across a variety of applications and industries. This includes smart homes and cities, decentralized finance, supply chain, commodity exchange, autonomous AI-based travel agencies, traffic congestion and train systems.
Increased interest prompts requests for Fetch.ai price estimates
While the concept of AEAs or intelligent digital agents working on behalf of a human user’s real financial interests may seem like a plot device in a science-fiction movie, the FET protocol enjoys real case studies, thus underpinning upside Fetch.ai price predictions .
Perhaps most notably, Bosch Research partnered with Fetch.ai in 2019 and deployed a node on the FET test network in 2021. Specifically, Bosch sought to expand research regarding machine learning protocols to identify equipment failures. Therefore, the FET blockchain does not only involve commercial relationships that require financial incentives for kinesis. Rather, the underlying AEAs can be deployed to promote solutions where there are no apparent financial incentive structures.
Given the flexibility and astounding acumen of the FET network, interest in Fetch.ai price predictions skyrocketed. As of this writing, the underlying token is changing hands for about 54 cents.
According to Coincodex, the five-day prediction for FET is 74.33 cents. But over the next month, analysts expect a decline in sentiment, reducing the price to 59.16 cents.
Per Cryptonewsz, FET already hit its maximum 2023 price target of 55 cents. Earlier today FET reached 57 cents. However, the resource states that by 2025, the average price of FET could reach 63 cents.
Interestingly, not all Fetch.ai price predictions are optimistic. For example, AMBCrypto expects that by the end of this year, FET will reach a maximum of 46 cents.
Why it matters
While the total market cap of all cryptos lost roughly 46% of its value in the ensuing year, FET’s extraordinary performance moved well against the course. In the same period, FET is up approximately 39%. Therefore, interest in Fetch.ai price predictions is likely to remain high for the foreseeable future.
As of publication date, Josh Enomoto did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Guidelines for publication.
