Fetch.ai has accomplished a successful network upgrade, known as offer number 33, which involved integrating its mainnet with the CUDOS network. This integration involved merging all CUDOS tokens and staked assets based on the specified token ratios. As a result, the Fetch.ai ecosystem has gained new functionality, along with a three-month lock-up program.
Network Integration and Functionality Enhancement
This integration has introduced an additional layer of interoperability to the Fetch.ai ecosystem, expanding its decentralized computing capabilities. This development positions Fetch.ai to support more scalable and efficient applications in the realms of artificial intelligence and blockchain.
Partnership and Cross-Chain Opportunities
Fetch.ai’s collaboration with Injective is a significant milestone for cross-chain interoperability. Through this partnership, Fetch.ai has begun leveraging Injective’s lightweight client technology within the Inter-Blockchain Communication (IBC) protocol. This advancement enables faster and more efficient transfers of assets between the two networks.
Market Reaction and Analyst Opinions
Fetch.ai has experienced a notable increase in market activity. Trading volume has surged by 93.89%, reaching $121.26 million, while open positions have risen by 3.22%. These figures indicate a renewed interest in Fetch.ai among users.
Technical analyst “World of Charts” points out that FET has broken its downtrend, which suggests 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 made significant contributions to the ecosystem. The increased trading volume and positive expectations from analysts indicate the growth potential of Fetch.ai. Users and stakeholders are closely monitoring the impact of these developments on the value of FET.
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Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware that cryptocurrencies carry high volatility and risk, and should conduct their own research.
