As Cointelegraph reported, AI-themed tokens have surged over the past 24 hours as the market digests the Federal Reserve’s 50 basis point rate cut. The FET token rose by about 15% on September 19 to $1.54.
FET’s gains mirror those of Nvidia’s stock price, which has risen 5.25% in the past 24 hours to $119. Additionally, FET tokens have also gained ahead of a major governance proposal vote.
The proposal will determine whether Cudos joins the Alliance for Artificial Super Intelligence (ASI Alliance). The vote will take place between September 19 and 24. FET is up more than 108% this year and 558% in the past 12 months.
In comparison, Bitcoin is up 49% this year and 140% in the past year; Ether is up 6.7% this year and 48% in the past year.
Analysts believe that FET has broken out of a multi-month downtrend and could rise further to the $1.90-2.15 resistance zone and even reach $2.30.
