The real-world adoption of blockchain technology is a slowly developing process that requires the right use cases and a willing public who are open to new experiences to be obtained when one ventures outside of their comfort zone.

Source: cointelegraph.com

An increasing number of real-world applications appear to be the motivating factor behind the recent gains seen in Fetch.ai (FET), a protocol focused on building an open access, tokenized-based decentralized machine learning network that aims to support the smart infrastructure being built around the digital economy.

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.658 on Sep. 6, the price of FET spiked 70% to a new record high at $1.12 on Sep. 7 as its 24-hour trading volume surged 538% to $590 million.

TradingView

The rapid increase in price and trading volume comes as the project tests a new multi-modal transport application called Deep Parking, an application built with AI and blockchain technology that helps automobile drivers locate empty parking spaces.

The protocol has also achieved a “global first” on Sep. 7 when an on-board Fetch AI agent successfully interacted with Datarella’s self-sovereign identity to allow the driver to rent a scooter from TEIR mobility.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for FET on Sep. 3, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for FET began to pick up on Sep. 3 and reached a high of 71 around 48 hours before its price began to increase by 70% over the next two days.

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