FET crypto's volume rallies over 1300%. Here's why

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FET crypto's volume rallies over 1300%. Here's why

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 FET crypto's volume rallies over 1300%. Here's why
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Highlights

  • As a machine learning and artificial intelligence platform, FET crypto allows users to share data seamlessly and securely.
  • The token on 8 September witnessed a healthy rally of 21% along with a volume gain of over 1300% at 7:30 AM (GMT +1).
  • The FET crypto on Thursday was trading at US$0.092942 with a trading volume of US$11,17,18,202 over a day.

Fetch.ai (FET) crypto is an open-source decentralized machine learning network that was created to increase the digital economy's growth without human interference. As a machine learning and artificial intelligence platform, it allows users to share data seamlessly and securely.

The FET crypto harnesses the power of AI technology with a permissionless network to make the data autonomous and secure. With a sole focus on optimizing DeFi trading services, smart energy grids etc., the FET crypto can be a part of the smart contracts and oracles ecosystem.

The FET crypto witnessed a healthy rally of 21% and a volume gain of over 1300% at 7:30 AM (GMT +1).

Reason for FET crypto's rally

While the exact reason for FET's rally is unclear, it has been one of the few cryptos that have been doing well amid the overall bearish sentiment. As the market continued to oscillate between lows to minor rallies, FET has managed to hold ground with a gain of 3% in the past 14 days.

Its performance improved over the past week, pushing its RSI to 55.10 during the intraday trading on Thursday. The sharp rise has been evident for the past few days, indicating a sudden interest in the token despite the market being down.

Image credit: Trading View

MACD, on the other hand, is more or less sedate despite the hike. Even though a slight lift is evident in the chart, more or less, the signal line is keeping pace with the MACD line. But even as FET crypto continues to do well, the momentum has been weak.

How is FET crypto faring in the market?

The 305th-ranked token was trading at US$0.092942 with a trading volume of US$11,17,18,202 over a day. The token enjoyed a market cap of US $6,93,45,270 with a maximum supply of 1,15,29,97,575 FET coins.

While FET crypto has enjoyed good summer days due to the recent gains, one must always be wary of the rainy days well. In the crypto market, the price movement of particular crypto can change at any given time; therefore, one must do proper market research to ensure that one doesn't make a wrong decision based on either speculation or hearsay.

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