Fetch.ai has successfully finished its network upgrade under offer number 33 by integrating its mainnet with the CUDOS network. This integration combined all CUDOS tokens and staked assets based on the specified token ratios. In addition to a three-month lock-up program, this integration has brought new functionality to the Fetch.ai ecosystem.
Network Integration and Functionality Enhancement
The integration has introduced a new layer of interoperability to the Fetch.ai ecosystem, positioning it to support more scalable and efficient artificial intelligence and blockchain-based applications through expanded decentralized computing capabilities.
Partnership and Cross-Chain Opportunities
Fetch.ai’s new partnership with Injective represents a significant development in cross-chain interoperability. This partnership has enabled Fetch.ai to start utilizing Injective’s lightweight client technology within the Inter-Blockchain Communication (IBC) protocol, allowing for faster and more efficient asset transfers between both networks.
Market Reaction and Analyst Opinions
Market activity related to Fetch.ai has seen a noticeable increase. Trading volume surged by 93.89% to reach $121.26 million, while open positions rose by 3.22%, indicating a renewed interest in Fetch.ai among users.
Technical analyst “World of Charts” observed that FET has broken its downtrend, signaling a potential reversal. If this breakout continues, FET is projected to reach $5 in the short term. Crypto analyst DamiDefi predicts that due to the technical breakout, increased trading volume, and successful update, FET could rise as high as $13.
The network upgrade completed by Fetch.ai and the partnership established with Injective have significantly contributed to the ecosystem. The increased trading volume and positive analyst expectations indicate Fetch.ai’s growth potential. Users and stakeholders are closely monitoring the impact of these developments on FET’s value.
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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
