Bittime - The crypto world is abuzz again with Fetch.AI's FET token soaring 360% since the beginning of 2023. This increase brought the price of FET from $0.6 to a record high of $2.84.
There are two main factors that triggered this increase, namely the v0.17 update in February and a $100 million dollar infrastructure investment.
The initial rise was driven by a general positive trend in the crypto market. However, what made FET soar was Fetch.AI's plan to improve their infrastructure with the $100 million investment .
This investment, called Fetch Compute, aims to provide better computing resources and more complete training for developers. Apart from that, users will also get benefits in the form of GPU credits.
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Through Fetch Compute, Fetch.AI will use Nvidia H200, H100, and A100 GPUs to build a platform that can be accessed by developers and users for various computing needs. Funds for this program come from Fetch.AI's own ecosystem funds.
Another interesting development from Fetch.AI is their collaboration with German engineering giant, Bosch.
These two companies worked together to form the Fetch.AI Foundation which aims to encourage the use of software agents, artificial intelligence (AI), and Web3 technology in the industrial world.
Fetch.AI Foundation focuses on research, development and adoption of intelligent agent technology across various sectors.
At the end of 2023, crypto trading platform Bitget joined in by injecting $10 million into the development of the Fetch.AI ecosystem.
Additionally, Bitget also offers various support services such as marketing consulting and strategic direction.
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Get to know more about Fetch.ai
Fetch.ai has a concept for decentralizing and automating online transactions. For example, imagine you want to book a plane ticket.
Usually you will use price comparison sites to search for and book tickets. Well, with Fetch.ai, you can use an automated agent to do this.
This automated agent is called a "digital twin". Your digital twin will be connected to the digital twins of airlines and ticket providers to find the best prices according to the parameters you specify, such as travel dates and your budget.
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Apart from that, your digital twin can also learn from other digital twins who have done similar tasks. With artificial intelligence, your digital twin can "learn" the right steps.
For example, you want to book a holiday similar to the one your friend did last year. Without having to ask your friends, your digital twin can find out flight, hotel and car rental details automatically.
This is just one example of using Fetch.ai. This platform can also be used for decentralized finance (DeFi) in the crypto world.
For example, Fetch.ai can detect tokens that are selling at a lower price on one exchange than another, and automatically take advantage of the price difference for you.
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What are FETs?
FET is the native asset currency of the Fetch.ai platform and serves as an internal economic driver. Fetch.ai users use FET to access services within the platform.
In addition, users can also stake their FET to gain voting rights in the governance and development direction of the Fetch.ai platform. Users who stake FET will earn interest at a variable rate of 10% per year.
The requirement to use FETs in running digital twins helps prevent platforms from being flooded with spam and malicious digital twins. The official name for this digital twin is Autonomous Economic Agents (AEAs).
The total supply of FET is limited to 1.1 billion tokens and can be purchased on several popular crypto exchanges.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Fetch.ai (FET) Price Rises Amidst AI Token Surge
Axelar (AXL) and Fetch.ai (FET) Prices Soar Despite Weak Crypto Market
Fetch.AI Launches Computing Services and Rewards FET Token Holders
Fetch.AI (FET) Skyrockets 400% in a Month: The Crypto Token That Will Rule the AI Sector
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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