AI-related tokens rally despite crypto market caution ahead of Fed rate decision thumbnail
AI-related tokens rally despite crypto market caution ahead of Fed rate decision
cryptonews.net
AI-related crypto tokens are posting a sustained week-long rally despite muted performance by major digital assets as caution descended ahead of Wednesday's U.S. Federal Reserve rate decision. Fetch.ai FET +14.23% has led the surge in value of cryptocurrencies associated with recent developments in
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  • AI-related crypto tokens are posting a sustained week-long rally despite muted performance by major digital assets as caution descended ahead of Wednesday's U.S. Federal Reserve rate decision.
  • Fetch.ai FET +14.23% has led the surge in value of cryptocurrencies associated with recent developments in artificial intelligence technology.
  • climbed 15% in the past 24 hours to trade at $0.62 at 10:40 a.m. ET. Fetch.ai focuses on automating business tasks, particularly in data processing and trading, using AI and machine learning.
  • data from CryptoQuant, centralized exchange reserves of FET have been decreasing throughout late November and December. In the past two weeks, over 26 million FET tokens have been removed from exchanges, suggesting traders see value in holding the cryptocurrency in the longer term. The reduction in supply could also be impacting the token's price a...
  • "The recent AI crypto sector's rally is influenced by several factors, including growing public interest in AI, technological advancements within the sector, and the ongoing development of AI-focused blockchain projects," Sei Labs Co-Founder Jeff Fang told The Block.

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