The recent surge in the price of Artificial Superintelligence Alliance USD (FET) can be attributed to the broader rally in AI-focused cryptocurrencies, spurred by Nvidia's impressive quarterly sales report. Nvidia's earnings exceeded expectations, with record sales of $35.1 billion, which has positively impacted AI-related tokens, including FET. The market's enthusiasm for AI technologies, bolstered by Nvidia's performance, has led to significant gains across the sector. FET, along with other AI tokens like NEAR Protocol and SingularityNET, has seen substantial price increases, contributing to the AI coins market cap reaching an all-time high of $42.19 billion.
The bullish sentiment surrounding AI cryptocurrencies is further supported by the U.S. administration's policy shifts, including the appointment of an "AI czar" to centralize AI policy. This move is expected to strengthen the nation's leadership in transformative technology, providing a favorable environment for AI-related digital assets. Additionally, the anticipation of a potential bull market in 2025 has investors eyeing AI tokens as promising opportunities for significant returns. Fetch.ai, in particular, is gaining attention for its decentralized AI network, which democratizes machine learning and offers various use cases across industries.
FET's price has risen by 7.83% today, reaching a current price of $1.628196. The token's price fluctuated between a low of $1.455217 and a high of $1.635224 throughout the day.