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    FET shares surge 60% after new project announcement

    msmarkBy No Comments3 Mins Read

    Frozen embryo transfer has been very popular lately and is being promoted as a Prices increased by more than 60% This week, it is outperforming some of the major players in cryptocurrencies such as Bitcoin, Solana, and Tron.

    Much of this upward momentum comes directly from new announcements Fetch.ai has made, including a new global innovation lab opening in San Francisco, California, that will truly push the boundaries of AI technology.

    The success rate of frozen embryo transfer is 60% per week. Source: Coingecko

    Investor enthusiasm was driven by their ability to become an engine of innovation in the lab, so FET prices are expected to rise another 14%. It is likely to reach $1.537 on September 25, 2024.

    The Innovation Lab is where early-stage startups can emerge by developing AI agent solutions, and Fetch.ai has allocated $10 million annually to support these projects.

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    The lab, which is expected to spend up to $1 million on each project, is sure to be one of the most important drivers of Fetch.ai’s massive growth.

    Not surprisingly, this strategy will undoubtedly lead to further price increases as investors wait for the possibility of game-changing developments as a result of this initiative.

    FET Recovery and Market Sentiment

    After suffering from intense selling pressure, FET has managed to see an incredibly strong recovery. In the past 24 hours alone, FET has added an additional 7% to its gains, becoming one of the top AI-based cryptocurrencies.

    FET’s market cap is currently $3.3 billion. Chart: TradingView

    The good thing is what stands out most when it comes to the nature of this recovery, taking everything into account. Other AI-focused projects, such as Near Protocol and Internet Computer, have seen losses recently, losing 14% in the last 30 days. FET, on the other hand, has shown resilience in this period by gaining 43% of the days.

    Market sentiment towards Fetch.ai is cautiously bullish. The Fear and Greed Index is currently at 55, which is an indicator of greed rather than over-exaggeration. This indicates interest in Fetch.ai, although many investors are not getting carried away, and this may be more sustainable.

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    Whale activity and trading volume

    Whale activity has also played a role in FET’s recent performance. One crypto whale has shown that he regretted selling his FET holdings in the past, Lookonchain reports.

    Over the period starting on August 11 and ending on August 23, the whale in question offloaded 2.30 million FET for a total of 2.38 million USDT at an average price of $1.02.

    Source: Lookonchain

    It is particularly noteworthy that the same whale bought back nearly 1.80 million FET at an average price of $1.33, demonstrating his confidence in the viability of the asset.

    Technical indicators and future expectations

    Fetch.ai is currently technically neutral, according to Quincodex. However, the current forecasted price gap is promising: by September 25, 2024, the price of FET is expected to rise by 14.23%. This forecast and market sentiment suggest that investors may consider buying Fetch.ai.

    Featured image by Pexels, chart by TradingView

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