Fetch.ai has recently completed a major network update under Proposition 33, successfully integrating its mainnet with the CUDOS network. This integration consolidates all CUDOS tokens and staked assets at a set token ratio, adding significant functionality to the Fetch.ai ecosystem with a three-month lockup program.
Network integration delivers enhanced interoperability
With this integration, Fetch.ai now benefits from an additional layer of interoperability. The move expands Fetch.ai’s decentralized computing capabilities, allowing it to support more scalable and efficient AI and blockchain applications.
Collaboration with the potential of Injective and Cross-Chain
Fetch.ai's latest partnership with Injective presents new developments regarding cross-chain interoperability. Through this collaboration, Fetch.ai has begun utilizing Injective's lightweight client technology in the Inter-Blockchain Communication (IBC) protocol. This enhancement allows for faster and more efficient asset transfers between the two networks, creating exciting new possibilities in decentralized applications.
Market reaction and analysts' perspectives
Fetch.ai has witnessed a significant increase in market activity, with trading volume soaring 93.89% to $121.26 million and open interest rising 3.22%. This surge signals renewed investor interest in Fetch.ai.
Technical analyst 'World of Charts' has observed that FET has broken out of a downtrend, indicating a potential reversal. If this breakout holds, FET could reach $5 in the short term. Meanwhile, cryptocurrency analyst DamiDefi predicts that with the impact of this technical breakout, increased trading volume, and successful updates, FET could rise as high as $13.
The recent network upgrade of Fetch.ai and its partnership with Injective have significantly contributed to its ecosystem. With increased trading volume and favorable predictions from analysts, Fetch.ai shows strong growth potential. According to reports from Dey There, users and investors are closely monitoring these developments and their impact on the value of FET.
