FET surges after Nvidia’s stocks rise

Fetch.ai’s FET was seen banking a surge of 26% in response to a rise in the stocks of Nvidia. FET has come under control at the press time but the jump is indeed noteworthy, considering it marks the possibility of outperforming Bitcoin again in the future. FET has previously touched the ATH of $3. That was in March this year.

Investors are in red for bearish sentiments across the ecosystem. The token is currently down by 7.36% in the last 24 hours, listed at $1.56. It further reflects a drop of 1.54% in the last 7 days and 37.73% in the last 3 days. The market cap and 24-hour trading volume have also dipped significantly.

The market remains above $1.3 billion and the latter category continues to show $314+ million.

NVDA, stocks of Nvidia, rose to $138 and are still on the rise. There is a correction in sight after a drop to $130.78. What caught everyone’s attention was its valuation surpassing Apple and Microsoft to become the most valuable company in the world. That sent signals across the industry that Nvidia’s craze has arrived and is likely here to stay.

Nvidia is driven by the rise of demand for AI solutions. Its chips and GPU solutions are linked to giants like OpenAI.

FET is placed to breach the mark of $1.6 in the next 5 days and $1.8 in the next 30 days. The monthly growth would be a jump of 14.35% from the current value amid the volatility of 18.92%. The 14-day RSI is hovering around 43.77. Sentiments are bearish while the Fear & Greed Index gives 63 points to the token. Investors could be absorbing energy by the way FET has traded in the last 30 days. Almost 23% of its trades have been green, all other days have only been reddish in the market.

The 50-day SMA and 200-day SMA are $2.06 and $1.566658 respectively.

AI cryptos have previously outperformed Bitcoin and Ethereum. There is a chance that the trend may reappear if Nvidia sustains the growth momentum. BTC and ETH have moved below the safety net of $65,000 and $3,500, applicable in the same order. Bitcoin stands a chance to rebound from the low via Spot ETF. Ether, on the other hand, is relying on speculation about the final approval from the SEC for its ETF.

AGIX by SingularityNET is another AI token that is garnering attention from the community. It has fallen by 6.37% in the last 24 hours, now listed at $0.6443. However, it was previously seen banking a gain of 20%. DGI by Delysium and SNS by Synesis One also relished gains.

AI, as a market, is seeing two sides to the coin. One side believes that the market is a bubble that will burst sooner or later. Another side believes that the industry will peak only in 2026 and does not have to burst to wait till then.