🔥🔥🔥 #Fetch.ai (FET) Attracts Whales Ahead of #ASI Transformation
Fetch.ai's Conversion into ASI Sparks Whale Activity
Fetch.ai (FET) has recently undergone a significant transformation, merging with Ocean Protocol (OCEAN) and #singularityNET (AGIX) to form the Artificial Superintelligent Alliance (ASI). During this transition, which is expected to complete by mid-July, the newly formed entity will continue trading under the FET ticker. With a current market capitalization approaching $3 billion, ASI has become the second-largest asset in the AI token sector.
Whale Activity Boosts FET Accumulation
- Whales have seized the opportunity presented by the merger, aggressively accumulating FET tokens. In just one week, addresses holding between 100,000 and 10 million FET added over 62 million tokens, valued at approximately $73 million.
- These large investors are anticipating a price surge following the merger’s completion, aiming to capitalize on potential profits.
- Retail investors also share this optimism. Positive sentiment has been prevalent across social media platforms, reflecting the bullish outlook for ASI and its future potential.
FET Price Prediction: Awaiting a Breakout
- Despite the merger-induced optimism, Fetch.ai's price has been constrained within a consolidation range of $1.70 to $1.00 for nearly a month. This consolidation is expected to persist until the merger is finalized, after which the anticipated bullish sentiment may drive FET to break out of this range.
- However, should FET fall below the lower limit of $1.00, it could signal a potential decline, invalidating the current bullish outlook. The price movement will be closely monitored as the merger approaches completion.
Source - beincrypto.com
