DWF Labs has made a significant move by depositing 1 million FET tokens (valued at $1.68 million) to Binance.
These tokens are part of the 10 million FET (then worth $11.8 million) that DWF Labs received from the Fetch.ai Foundation on September 3. Since entering their portfolio, the price of FET has surged by 42.3%, reflecting the growing interest in AI-driven crypto projects.
DWF Labs (@DWFLabs) deposited 1M $FET ($1.68M) to #Binance 14hrs ago, after the price increased by 42% since entering their portfolio.
Notably, these tokens were part of the 10M $FET (then worth $11.8M) that DWF Labs received from the @Fetch_ai Foundation on Sep 3.
DWF Labs… pic.twitter.com/pmuS4zRPKF
— Spot On Chain (@spotonchain) September 26, 2024
Even after the recent deposit, DWF Labs still holds a sizable 9 million FET tokens, worth approximately $15.1 million.
This makes FET the largest asset in their portfolio, highlighting their confidence in the long-term potential of Fetch.ai, a decentralized platform that integrates artificial intelligence and machine learning.
This move comes at a time when the AI sector within the cryptocurrency space is booming, with a combined market capitalization of $30 billion. Four leading projects—NEAR Protocol ($NEAR), Fetch.AI ($FET), Internet Computer ($ICP), and Bittensor ($TAO)—account for a substantial $18.5 billion of the total market value.
The combined marketcap of AI in crypto is $30B.
The top 4 projects ( $NEAR, $FET, $ICP & $TAO ) make up $18.5B of the $30B.#ICP is up 5804%🤯
Big opportunity for investors🤩 pic.twitter.com/HoowLBT9fg
— The Crypto Guardian (@iCryptoGuardian) September 25, 2024
Fetch.Ai $FET Stands Out Among Other AI Tokens
Fetch.AI has been one of the standout performers in the AI crypto space, thanks in part to its decentralized network designed for autonomous “agents” to communicate and execute tasks across industries like finance, supply chain, and transportation. The platform’s rapid growth reflects the increasing demand for AI solutions that can operate autonomously within decentralized ecosystems.
With DWF Labs holding a large portion of FET, market observers are closely watching their next moves. Their actions, combined with the continued rise of AI projects in crypto, suggest that the sector is poised for further growth, driven by increased institutional investment and technological advancements.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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