Investing.com | Editor Venkatesh Jartarkar
Published Nov 11, 2023 10:13AM ET
In a significant development for Fetch.AI, the artificial intelligence-focused cryptocurrency, its price soared over $0.45 today, marking a notable 10% increase within half a day. This surge in value also represents a doubling of its price over the past month, reaching heights last seen in early February 2023.
The catalyst behind this rapid appreciation is the release of Fetch.ai Wallet 0.17, which introduced several key features enhancing its functionality and appeal to users. The update brings interoperability with the Ethereum and Cosmos ecosystems through the Axelar native bridge, a move that broadens the potential use cases and accessibility of Fetch. AI. Additionally, the new wallet version offers customizable RPC (NYSE:RES) endpoints for manual network connections and an intelligent gas calculation module designed to facilitate more efficient swaps and liquidity-providing decisions.
This wallet upgrade has not only had a positive impact on Fetch.AI’s price but also contributed to an upswing in the broader AI cryptocurrencies segment. The net capitalization of this market segment witnessed a 10.6% increase in the last day alone, pushing its total valuation beyond the $3.89 billion mark.
Fetch.AI’s momentum is further bolstered by its recent attainment of Gold Sponsor status for the upcoming AI Summit New York, scheduled for December 6-7, 2023, at the Javits Center. The team is set to showcase their innovations at booth 241, where they will likely engage with industry peers and potential users, potentially furthering investor interest and adoption of their technology.
The convergence of these strategic developments indicates a period of robust growth for Fetch.AI as it strengthens its position within the AI and blockchain sectors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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Written By: Investing.com