Fetch.ai (FET) crypto is surging and many investors want to learn more about it. Its price has climbed 30 percent to trade above $0.50 in the last 24 hours. The altcoin has gained about 900 percent in 2021 but still trades 40 percent below its all-time high. What’s FET crypto's price prediction and is it a good investment now?
Bitcoin’s lifetime returns on investment at one point recently came to about 80,000,000 percent. That meant that an investment of $100 in the early years of the flagship crypto had grown to more than $80 million. Bitcoin’s success has inspired many crypto projects.
Investors seeking Bitcoin-type returns are eager to find the next cryptocurrency to explode. While there are thousands of cryptocurrencies out there, not all of them will succeed as good investments. Therefore, if you’re considering FET crypto as an investment, it would be wise to first understand what it's about and its price prediction.
What is Fetch.ai (FET) crypto and how does it work?
Fetch.ai is a UK-based blockchain company focused on machine learning and artificial intelligence. Developers come to the platform to build and test intelligence apps that can be deployed to perform a variety of tasks. Fetch.ai solutions are paid for in FET token.
Why Fetch.ai (FET) crypto's price is going up
FET crypto’s soaring price can be attributed to several factors. First, the crypto was recently added to Coinbase and that has significantly increased its exposure to big investors.
Second, German manufacturing giant Bosch recently revealed a plan to use the Fetch.ai platform for its machine learning research. That has made many investors realize that FET crypto could have a bright future. Investors are rushing to buy the Fetch.ai token.
How many FET crypto tokens are there and is the supply capped?
Some 746 million FET tokens are currently circulating. The crypto’s maximum supply is capped at 1.2 billion tokens. Payments-focused cryptos Ripple and Stellar Lumens also have fixed maximum token supply. Cryptocurrencies with capped upper supply offer automatic protection against inflation and are popular with risk-averse investors.
Is FET crypto a good long-term investment?
FET crypto’s nearly 900 percent gain in 2021 puts it ahead of even blue-chip cryptocurrencies like Bitcoin and Ethereum. The reason you might be interested in FET crypto’s price prediction is to try to assess if it could reward investors in the future.
There's a high chance that the altcoin will continue appreciate in value for the long term. Bosch’s move to conduct machine learning trials on Fetch.ai brings much-needed credibility to the new project and could help attract more high-profile customers to the platform.
Alsp, potential application cases for machine learning and artificial intelligence technologies continue to expand. For example, researchers in Cambridge have started trialing the use of AI technology in detecting dementia early. Such efforts promise to bring more attention to Fetch.ai and generate more demand for its FET token.
FET crypto price prediction
With FET crypto surging but still trading sharply below its all-time high of $0.88, you might be wondering what the future might bring. FET coin has gained more than 90 percent in the past month.
For the crypto to get back to its all-time high from the current price before the end of 2021, it will need to gain 15 percent monthly on a compounded basis in the remaining period. If it continues at that rate, it could reach $100 before 2025.
Where to buy FET crypto
If you like FET crypto’s price prediction, you might want to take advantage of the pullback from the peak to buy the dip. The best places to buy the token with the U.S. dollar are Coinbase and Bitfinex. Alternatively, you can convert your Bitcoin or Ethereum to FET token on KuCoin, Gate, and Binance.