Fetch.ai has completed its network update, known as proposal number 33, successfully integrating its mainnet with the CUDOS network. This merger combines all CUDOS tokens and staked assets based on the specified token ratios, while also introducing new functionalities to the Fetch.ai ecosystem through a three-month lock-up program.
The network integration between Fetch.ai and CUDOS enhances the interoperability of the Fetch.ai ecosystem. This development enables Fetch.ai to support more scalable and efficient applications in the fields of artificial intelligence and blockchain by expanding its decentralized computing capabilities.
Furthermore, Fetch.ai has formed a strategic partnership with Injective, marking a significant advancement in cross-chain interoperability. Through this collaboration, Fetch.ai has started leveraging Injective’s light client technology within the Inter-Blockchain Communication (IBC) protocol. This integration enables faster and more efficient transfers of assets between the Fetch.ai and Injective networks.
The market has responded positively to Fetch.ai’s recent developments. Trading volume has experienced a substantial surge of 93.89%, reaching $121.26 million, while open positions have also seen a 3.22% increase. These statistics indicate a renewed interest in Fetch.ai from users.
Technical analyst “World of Charts” has observed that FET has broken its downtrend, suggesting a potential reversal in its price trajectory. If this breakout continues, FET is projected to reach $5 in the short term. Crypto analyst DamiDefi predicts even further growth for FET, estimating a rise to $13 due to the technical breakout, increased trading volume, and successful network update.
Fetch.ai’s network update and collaboration with Injective have made significant contributions to the ecosystem. The growing trading volume and positive expectations from analysts underscore the potential for Fetch.ai’s future growth. Users are closely monitoring the impact of these developments on the value of FET.
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Disclaimer: The information in this article should not be considered as investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and conduct their own research.