Fetch.ai Dominates AI Crypto Market with Bullish Momentum

• Fetch.ai (FET) holds the largest market cap in the AI crypto space at $4.21 billion, outperforming competitors like Bittensor and others.
• With 75% of wallet addresses in profit and a golden cross signaling bullish momentum, FET’s price is expected to rise further.

Fetch.ai (FET) is establishing itself as the frontrunner in the AI crypto sector. Currently, it holds the largest market capitalization among AI-related coins. With a market cap of $4.21 billion, Fetch.ai leads the pack. Moreover, the FET price is expected to surge beyond $3 due to bullish signals.

Fetch.ai Reigns The AI Coin Sector

Fetch.ai is outperforming its closest competitor, Bittensor, which holds a market cap of $4.19 billion. Despite this narrow difference, FET’s dominance becomes more apparent when compared to other AI cryptocurrencies like Render (RENDR), Worldcoin (WLD), and Akash Network (AKT). All of these crypto combined, do not match FET’s market valuation.

Fetch.ai’s impressive trading volume is another significant factor in its leadership. In 2024, Fetch.ai recorded a trading volume of $49.92 billion, more than 4.5 times higher than Bittensor’s. The higher volume is accompanied by a 126.78% year-to-date (YTD) price surge, outpacing Bittensor’s 102.56% increase.

This suggests stronger demand and market participation in Fetch.ai, creating a positive cycle of increased visibility and relevance. In addition to its market achievements, Fetch.ai is investing heavily in AI innovation. On August 30, the company launched an innovation hub in San Francisco to accelerate the development of AI agent solutions for businesses.

The lab aims to provide support through funding, mentorship, and strategic guidance, helping developers and startups in the AI domain. Furthermore, Fetch.ai has committed $10 million annually to fund projects that leverage its technology.

Earlier this month, Fetch.ai also rolled out a major wallet upgrade with better performance, auto-locking, global currency support, and much more, as per the CNF report.

FET Price Analysis

FET is showing strong performance, with approximately 75.25% of its wallet addresses currently in profit. This translates to around 85,010 addresses benefiting from FET’s current price of $1.68. On the other hand, around 21.44%, or 24,220 addresses, are facing losses, while 3.31% or 3,740 addresses, are breaking even.

The current distribution of profitable addresses signals positive market sentiment, which could drive further gains for FET. In the past, FET has experienced significant price increases in similar situations. For instance, during a previous uptrend with a similar proportion of profitable addresses, the token jumped by over 500% within a single month.

Additionally, the FET price recently formed a golden cross. It is a bullish technical indicator where the shorter-term exponential moving average (EMA) crosses above the longer-term EMA.

This pattern signifies building momentum and often precedes further price increases. Currently, FET’s EMAs, including the 20, 50, 100, and 200-day lines, are aligned in a bullish formation, reinforcing the positive outlook.

If FET maintains this upward trend, it may test resistance levels at $1.86 and $2.28. Moreover, a breakthrough at these points could lead to further targets at $2.70 and $3.48, with a new all-time high, per the CNF report.