As the renewed artificial intelligence (AI) hype continues, AI cryptocurrencies are going through a renaissance of interest alongside it, including one AI token that has skyrocketed a whopping 200% in the last month, recently hitting its new all-time high (ATH).
Specifically, Fetch.ai (FET) has soared 203.01% in the previous 30 days, recently hitting the price of $3.29, with which it has broken its previous record and positioned itself as one of the top gainers among the crypto market’s best-performing assets, as per the latest chart data on March 27.
Fetch.ai price analysis
On top of that, Fetch.ai has added $1.87 billion to its market capitalization during the last month, growing by 210.57% from a mere $885.48 million 30 days ago to the current $2.75 billion, swiftly climbing the ranks and becoming the 51st-largest digital asset by this indicator, fighting for the 50th place with Arweave (AR).
At the same time, the current FET price reflects the token’s increase of 8.92% in the last 24 hours and a 24.67% gain across the previous seven days, as AI crypto coins continue to advance, as per the most recent chart data retrieved by Finbold.
It is also worth noting that FET has rallied by an impressive 708.62% on its yearly chart, which means it has come a long way from the measly $0.4558 where it stood exactly 365 days ago, according to the price information obtained on March 27.
Why is FET rallying?
As it happens, the FET price rally is happening against the backdrop of a Bloomberg report that the Fetch.ai team is considering a token merger with two other AI crypto coins operators – SingularityNET (AGIX) and Ocean Protocol (OCEAN) – which has also led the other two altcoins to skyrocket.
Interestingly, a renowned pseudonymous crypto trading expert with a huge following, Rekt Capital, has earlier shared the observations of FET “slowly getting ready to challenge” for a new ATH, according to the analyst’s X post and chart pattern analysis published on March 26.
All things considered, Fetch.ai has made an impressive climb in the last year, intensified by the recent AI hype, with the possibility of growing even further. However, the trends in this sector can sometimes change on a whim, so doing one’s own research before investing is crucial.
