Fetch.ai has successfully completed its network update under proposal number 33, integrating its mainnet with the CUDOS network. This integration merged all CUDOS tokens and staked assets according to the specified
token
ratios. Accompanied by a three-month locking program, this integration has added new functionality to the Fetch.ai ecosystem.
Contents
Network Integration and Increased Functionality
Partnership and Cross-Chain Opportunities
Market Reaction and Market Sentiment
Network Integration and Increased Functionality
This integration has introduced a new layer of interoperability to the Fetch.ai ecosystem. Fetch.ai can now support more scalable and efficient AI and blockchain-based applications by expanding its decentralized computing capabilities.
Partnership and Cross-Chain Opportunities
The new collaboration between Fetch.ai and Injective has presented a significant advancement in cross-chain interoperability. Through this partnership, Fetch.ai began utilizing Injective’s lightweight client technology within the Inter-Blockchain Communication (IBC) protocol. As a result, faster and more efficient asset transfers between the two networks have become possible.
Market Reaction and Market Sentiment
Market activity related to Fetch.ai has seen a notable increase. Trading volume surged by 93.89% to reach $121.26 million, while open positions rose by 3.22%. This indicates a renewed interest from the community in Fetch.ai.
Technical analyst “World of Charts” noted that FET has broken its downtrend, signaling a potential reversal. If this breakout continues, FET is predicted to reach $5 in the short term. Crypto analyst DamiDefi also forecasts that under the influence of the technical breakout, increasing trading volume, and successful updates, FET could rise to as much as $13.
The network update conducted by Fetch.ai and its collaboration with Injective have provided significant contributions to the ecosystem. The increasing trading volume and positive expectations from analysts indicate Fetch.ai’s growth potential. Users and market participants 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.
