AI tokens, including the Artificial Superintelligence Alliance [FET], have had a strong trading week, thanks to US Vice President Kamala Harris’s remarks on artificial intelligence (AI) and cryptocurrencies.
Speaking at a fundraising event in New York on September 22, the Democratic presidential candidate expressed her administration’s support for AI and digital assets if elected to the top position.
Harris' comments on the matter, his first in public, signaled a pro-innovation stance, sparking mild excitement in the cryptocurrency market.
FET is currently trading at $1.68, up 6.2% on the day and 27% over the past week, according to data from CoinMarketCap.
Other AI and big data tokens such as Bittensor [TAO], Render [RENDER], and The Graph [GRAPH] have also increased in price during the day. The recent market reaction reflects optimism about the future of AI technologies under favorable regulatory conditions.
The election ended early
Fetch.ai, Ocean Protocol, and SingularityNET merged in March to form the Artificial Superintelligence Alliance, resulting in the creation of the new ASI token (FET).
Earlier this month, the alliance proposed a merger involving the integration of CUDOS, making CUDOS its fourth member.
As part of the agreement, the CUDOS network will provide critical decentralized cloud computing resources, helping the alliance manage large-scale AI workloads cost-effectively.
In addition to reducing the cost of AI development without sacrificing high computational standards, the integration of CUDOS will increase the utility of the ASI Token.
The merger will be subject to an adjusted conversion rate of 119 CUDOS: 1 FET after a 5% merger fee.
Voting on this proposal opened on September 19 and is scheduled to end on September 24.
So far, 95.26% of community members have voted in favor, while 4.74% are against the move.
Notably, pending integration approvals could add further momentum to ASI (FET) this week.
FET/USD Technical Analysis
From a technical perspective, FET remains under pressure below resistance at USD1.77.
The FET/USDT pair is trading above important moving averages including the 50 and 100-day SMAs along with the 50, 100, and 200-day EMAs on the daily chart, suggesting bullish sentiment.
Current support levels appear at $1,235, a psychological price zone that provides a floor for the token if the rally stalls.
While FET has registered decent gains this month, it faces competition from TAO, a cryptocurrency that is slowly approaching its market capitalization.
Data from CoinMarketCap shows that TAO is on track to surpass ASI, positioning itself as a leading contender in the AI Token market.
