Overview
Let’s start by exploring the fundamentals of the Fetch.ai crypto project, including its history, founders, and operational mechanisms. Additionally, we’ll answer the “What is the FET crypto token?” question. In doing so, we’ll cover the token’s basics, tokenomics, purpose, and unique features.
For enthusiasts and investors seeking insights into the FET crypto’s potential, we’ll present a detailed analysis of the asset’s price performance. Furthermore, utilizing technical analysis, we’ll outline key support and resistance levels, incorporating the Money Line indicator, followed by our speculative FET price prediction.
For enthusiasts and investors seeking insights into the FET crypto’s potential, we’ll present a detailed analysis of the asset’s price performance. Furthermore, utilizing technical analysis, we’ll outline key support and resistance levels, incorporating the Money Line indicator, followed by our speculative FET price prediction.
To aid your decision-making process regarding a FET coin investment, we’ll introduce you to Moralis Money‘s FET token page. This page lets you research the Fetch.ai crypto project, assess $FET’s real-time, on-chain metrics, and formulate your short-term FET price prediction. Lastly, we’ll show where and how to find markets to buy the FET crypto. So, are you prepared to understand the essence of the Fetch.ai and the FET token? Let’s begin!
What is Fetch.ai? Exploring the Fetch.ai Crypto Project
The Fetch.ai crypto is a groundbreaking project at the intersection of artificial intelligence (AI) and blockchain technology. At its core, Fetch.ai introduces the Autonomous Economic Agent (AEA) framework, designed to facilitate the creation of autonomous agents capable of interacting, negotiating, and transacting with each other in a decentralized manner.
The project stands out for its native integration with distributed ledgers and crypto-economic security concepts. This enables AEAs (agents) to function as fully autonomous economic entities. Notably, agents can be distributed as finished products directly to end-users, providing a unique user experience. Fetch.ai envisions a future where technology seamlessly integrates into every aspect of industry and enterprise. As such, it will foster innovation and cooperation through an open and transparent ecosystem.
The Fetch.ai Foundation, a non-profit organization, governs the project. The organization’s aim is to advance technology in AI and distributed systems. By doing so, it wishes to promote data sovereignty and encourage collaboration among industry participants to unlock new business models and opportunities.
The foundation’s value goals include technical excellence, fostering collaboration, unlocking sustainable business models through Web3 and AI, and empowering data sovereignty in the digital landscape.
Note: If you are eager to explore the “What is the FET crypto token?” sections, feel free to skip the following two sections, where we quickly cover the history of the Fetch.ai crypto project and its founders. Also, if you wish to explore the ins and outs of Fetch.ai and its solutions/products, make sure to visit the above-outlined website. Nonetheless, if your top concern is where to buy the FET crypto, do not hesitate to jump to the bottom of the article.
History
Looking at the Fetch.ai crypto project’s X (formerly Twitter) account, you can see that the project has decent mileage, at least from a crypto perspective; the project’s inception dates back to 2017. However, it wasn’t until 2019 that the FET token went live. Moreover, the final versions of the “Autonomous Economic Agent Framework” whitepaper went live in 2021.
Another important milestone was also the launch of the Fetch.ai mainnet in 2020. And the mainnet v2.0 launch in March 2021 was also quite significant. After all, it served as the key to unlocking the AEA functionalities.
It all started with a vision to revolutionize the digital economy by seamlessly integrating artificial intelligence and blockchain technology. A significant milestone in the project’s history was the introduction of the consensus algorithm “proof-of-work,” highlighting Fetch.ai’s commitment to decentralized and secure communication among agents.
The framework’s design principles, as outlined in the whitepaper, emphasize generality, enabling developers to utilize a variety of AI tools without being bound to a specific framework. Notably, Fetch.ai distinguished itself by integrating distributed ledgers and crypto-economic security concepts, positioning AEAs as fully autonomous economic entities with the ability to transact and make commitments.
Founders
The Fetch.ai crypto project was founded by a dynamic trio of visionaries and experts in their respective fields. Humayun Sheikh, the co-founder and CEO, is a seasoned entrepreneur and investor with a keen interest in the distributed economy, AI, machine learning, blockchain, and token-based economies. As a founding investor in DeepMind, his strategic insights have played a pivotal role in Fetch.ai’s journey.
Toby Simpson, co-founder and CTO, brings three decades of software development experience, including a significant role as one of the original developers at DeepMind. His expertise spans successful computer game development and the creation of scalable shared virtual world architectures.
Thomas Hain, co-founder and CSO, is an established scientist in advanced machine learning AI, serving as a professor at Sheffield. His unique ability to bridge the realms of academia and the real world has contributed to Fetch.ai’s innovative approach, inspired by the vast opportunities AI presents to modern society. Together, this visionary trio leads Fetch.ai’s international team of engineers, driving advancements at the intersection of blockchain, artificial intelligence, and multi-agent systems.
How Does Fetch.ai Work?
Fetch.ai operates through its open platform for the new AI economy. The platform allows anyone to use its AEA framework to build, deploy, and monetize AI agents, AI dapps, and AI tools.
The framework’s flexibility allows developers to choose from various Fetch.ai AI tools. Plus, the platform stands out for its integration with distributed ledgers, enabling AEAs to function as fully autonomous economic entities with heightened security.
The platform’s open design doesn’t prescribe specific AI tools or protocols, which allows for more innovation. Notably, Fetch.ai focuses on user experience by allowing agents to be distributed as finished products, enhancing accessibility.
Note: As a developer, you may not be interested in learning where to buy the FET crypto but wish to dive into the nitty-gritty aspect of the “What is FET crypto?” topic. If so, make sure to dive into the Fetch.ai crypto project’s documentation:
What is the FET Cryptocurrency?
FET is the native cryptocurrency of the Fetch.ai ecosystem. The token was initially launched on the Ethereum blockchain as an ERC-20 token. However, as the Fetch.ai mainnet went live, users could migrate the token to the project’s native network. Since then, tokens have lived on both of these chains and can be transferred between each network.
FET serves as the utility token within the Fetch.ai network, facilitating various functions and transactions. In fact, these are the key functions of FET within the Fetch.ai ecosystem:
- Covering transaction fees
- Paying for the Fetch.ai services/products
- Staking
- Incentives and rewards for stakers and network participants
When addressing the “What is the FET crypto?” question, looking at the asset’s tokenomics is key. So, make sure to consider the details below before taking action on our details about where to buy the FET crypto.
FET Crypto Tokenomics
- Token name: Fetch.ai Token
- Symbol/ticker: FET or $FET
- Networks:
- Ethereum
- Fetch.ai mainnet
Initially, FET tokens were launched as ERC-20 coins. In that form, the asset had a max supply of 1,152,997,575 $FET, and all the tokens were in circulation. However, at the launch of the Fetch.ai mainnet, the total supply on that network was 1,055,156,116 FET, with an inflation rate of 3%. The network planned to mint the deficit over the first three years. That approach enabled the native FET tokens to match the ERC-20 FET tokens.
The initial token distribution for the max supply was as follows:
- 17.6% token sale
- 20% founders
- 10% advisors
- 20% Fetch.ai Foundation
- 15% mining rewards
- 17.4% future releases
What Makes the Fetch.ai Crypto Unique?
What sets Fetch.ai apart is its emphasis on generality, allowing developers the flexibility to employ various AI tools, including deep learning models, reinforcement learning, or traditional AI approaches, without being tied to a specific framework or protocol.
If the Fetch.ai ecosystem were to achieve proper adoption, it could really revolutionize how businesses and individuals go about handling bookings and countless other tasks. However, only time will tell if Fetch.ai will reach that point.
Full FET Crypto Price Analysis
Now that you know what the FET coin is, let’s focus on its price. And before we offer our FET price prediction and teach you how to come up with your own FET crypto price prediction, let’s look at the asset’s price action so far.
According to ICO Drops, the price of $FET at the time of its IEO (initial exchange offering) was $0.0867. And, since the token launched on Binance, that market’s chart offers us the most extensive insight into FET’s price performance:
By looking closely at the above weekly chart on the logarithmic scale, you can see that folks who know what the FET coin is did a decent amount of buying and selling $FET over the years. It is also clear that the best time to buy FET coins so far was back in March 2020. On the day of the crash, $FET was going for as little as $0.0074 – more than ten times below its ICO price.
Users who bought that dip were able to rid the asset to its all-time high (ATH) at $1.1985. The latter was set in early September 2021. As the entire crypto market entered a bear season, the FET price prediction also had to face some serious depreciation. The token hit its cycle bottom in mid-November 2022. However, sitting at $0.057, this local low was significantly higher than the one in 2020.
2023 $FET Rally
After the above capitulation, $FET entered one of its most impressive rallies. It went from the aforementioned price up to approximately $0.60 in just 78 days. But on February 8, 2023, the asset ran out of steam and pulled back by roughly 70% by June 2023, where it found support on top of the $0.17 level. From there, it couldn’t break above the previous resistance of around $0.27.
However, from October 19 to November 17, 2023, buying pressure increased, which pushed the FET coin price from $0.20 to $0.48. At the time of writing, $FET is trading around $0.42.
TA (Technical Analysis)
In the above chart, we marked all the key support and resistance levels for $FET. These levels are beneficial for speculation on FET price prediction targets. Also, as you can see, at the time of writing, the $0.49 level is acting as a resistance.
Of course, we could use many other basic and advanced TA tools and indicators. However, we prefer to focus on the Money Line indicator. According to this powerful TA indicator, FET is in a bullish trend on both weekly and daily timeframes:
Note: You can get your hands on the Money Line indicator for free once you opt for the Moralis Money Starter or Pro plan.
FET Crypto Price Prediction
Before we offer our FET crypto price prediction, you need to remember that forecasting cryptocurrency prices is highly speculative, especially when focusing on mid and long-term targets.
With that said, given a bearish RSI divergence on a daily chart, our short-term FET crypto price prediction points to the $0.3 – $0.2 region. However, if Bitcoin remains strong and pushes even higher, $FET could break above $0.50 and reach $0.64 rather soon.
Given the market’s strong AI narrative, we predict that $FET will set its new ATH in the upcoming bull run. However, it is impossible to say how high the price could go. One optimistic target, based on the Fibonacci retracement tool’s “4.236” extension, points to $4.9:
Note: The only way to use price prediction in a slightly reliable manner is to focus on short-term targets. You can do this by combining the power of FET’s live price and its real-time, on-chain metrics. Using these useful insights, you can come up with your own short-term FET price prediction at any time.
Is the FET Token a Good Investment?
Using the above-offered answers to the “What is the FET crypto project?” and “What is the FET coin?” questions, you should be able to decide whether or not you find this project interesting. If yes, then you should also consider the above price analysis. However, before we tell you where to buy the FET crypto asset, you must be able to answer the above question with confidence.
So, make sure to research the Fetch.ai crypto project and its cryptocurrency by visiting Moralis Money’s $FET token page. On that page, you’ll find all the resources and tools to determine whether to buy the FET coin or not. And since that page also offers the live $FET price and its real-time, on-chain metrics (a.k.a. alpha metrics), you can also use it to come up with your own FET crypto price prediction.
You can access that page by following the above “$FET” link or via the interactive widget below:
Where to Buy FET Crypto?
If you decide you wish to get a bag of $FET, you have several options. Just use the “Market” section on CoinGecko or CoinMarketCap page for that token. There, you’ll find a list of all CEXs and DEXs that offer the relevant training pair, including the trading volume. As such, you can easily pick a market that best suits your goals.
What’s Fetch.ai, How Does it Work, and How to Buy the FET Crypto? – Key Takeaways
Throughout the sections above, you learned what the FET coin is all about, what price levels the FET crypto has covered so far, how you can come up with your own FET price prediction, how to determine if FET is a good investment, where to buy the FET crypto, and how to purchase the FET token. So, if you are remotely interested in FET, you should visit Moralis Money’s $FET token page next. Then, use the resources and tools it offers and decide if/when to buy this token.
Also, make sure to explore other altcoin opportunities. After all, the average altcoin tends to increase by 50x – 70x during a bull run! Thanks to Moralis Money’s core feature – Token Explorer, you can find the next coin to blow up with zero fuss. In fact, you can even automate the process and become a successful crypto trader with time to spare.
Visit Moralis Money’s Token Explorer age and get your hands on the best crypto insights. It’s time to deploy the best crypto trading strategies!
