The Artificial Superintelligence Alliance (ASIS) gained ground after the market returned to pre-September levels. CoinGecko notes that FET, the native token of the merger, has increased by 30% since last week, representing a huge jump in investor sentiment.
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This was due to several on-chain developments this week, supported by an even greater bullish market sentiment as major cryptocurrencies such as Bitcoin and Ethereum successfully returned to sustainable levels. With this in mind, investors could continue to face gains in the coming weeks.
On-chain developments fuel FET growth
On September 13, Fetch.ai announced Synergy, a project proposed by Fetch Innovation Lab intern Kush Agarwal, will integrate the platform’s AI technology into the manufacturing industry. While no further details have been announced, such as whether the project has been greenlit for development, Synergy works by utilizing Fetch’s AI agents to perform a variety of tasks within a factory, increasing efficiency.
Another amazing product developed in our Innovation Lab by one of our interns, Kush Agarwal!🚀
Check out Synergy.👀
Synergy harnesses the power of #THERE to make the global manufacturing industry more efficient.
Stay tuned for more projects coming out of our Innovation Lab!🤯… pic.twitter.com/6EQh8GY2QX
– Fetch.ai (@Fetch_ai) September 13, 2024
According to X’s post, the scalability of the proposed project is nearly infinite, but whether it will have a lasting impact on the manufacturing industry is still up for debate. MIT’s mid-year Technology review35% of the 300 manufacturers surveyed have already integrated AI into their workflow, representing 105 manufacturers.
Search also protected a partnership with GameSwift, a compute-focused AI platform that aims to “drive mass adoption of Web3 games.” The partnership is simple: GameSwift users earn by lending their computing power to advance AI, with the secondary goal of expanding Fetch’s gaming business. As of this writing, GameSwift’s primary goal is to create a marketplace for users to use their computing power.
Another bullish sign for investors is the proposal adding CUDOS, a blockchain cloud computing protocol, to ASI through a token merger. In the proposal, ASI stated that adding CUDOS to the alliance will “scale the Alliance’s computing resources, but also strengthen its position as the leading platform for decentralized AI, AGI, and ASI initiatives.”
FET attempts to breakout at $1.4 resistance
At the time of writing, FET’s overwhelmingly bullish sentiment across all timeframes gives bulls enough momentum for an attempted breakout at the $1.4 resistance level. Supported by positive on-chain developments, the token could be poised to flip this resistance into support in the coming days.
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However, the token’s relative strength index signals that bulls are exhausted, with little to no room left to continue their bullish momentum. This could suggest a slight pullback in the coming days. With FET’s relatively high correlation with major cryptocurrencies, it could also be influenced by any moves made by Bitcoin and Ethereum in the coming days.
Featured image from Pexels, chart from TradingView
