Listings on Binance are not very frequent now, so they are becoming staggeringly anticipated events in the crypto community. On February 28, a new cryptocurrency called FET appeared on this exchange. What are its prospects?
What is Fetch.AI?
The Fetch.AI team is working on the creation of an “economic Internet” in which economic – excuse my tautology – activity is carried out by autonomous agents. They are capable of performing operations regardless of human intervention. The digital world where the agents live is called the Open Economic Framework. This is not a peer-to-peer but a machine-to-machine economy. The goal of the project is to automate with the help of artificial intelligence and machine learning some areas of the market that now require time-consuming manual intervention.
On February 25, the first over-the-counter tokensale was held on Binance Launchpad. CEO Binance said that it lasted only 10 seconds, but later clarified that it took 22 seconds.
This cryptocurrency is the basic method for the exchange of values within the network. It is released on the basis of the ether and is an ERC-20 token. After the launch of Mainnet, which is planned in the second half of 2019, these tokens will be converted to native Fetch.AI tokens.
FET price forecast for 2022-2023
It is difficult to predict the price of a cryptographic currency at the very beginning of its journey. However, we will try to analyze a number of “friendly” and unfavorable factors that can influence its value.
Friendly factors include the following:
- Positive attitude and support from Binance.
- At the moment, the coin is present on only one exchange. Subsequent listings may have a positive effect on its price.
- The company is one of the founders of “Blockchain for Europe” association along with Ripple, NEM and EMURGO/Cardano.
- Ambitious plans of developers.
Adverse factors are as follows:
- Experienced traders have questions to the team and token distribution structure during IEO (Initial Exchange Offering). Many small investors and traders simply did not have time to buy a coin during the tokensale, some users suspect that this event was accompanied by the active participation of bots.
- If the market continues to stagnate (or bearish sentiment prevails), the coin will have difficulties with rising in price.
We believe that if the price of the coin is maintained at the level of 0.4-0.5 dollars during the spring of 2019, it has good chances for further growth. Its cost in 2020 will depend on the fulfillment of the goals set in the roadmap.
Disclaimer. Do not regard our forecast as investment advice. We recommend that you conduct your own research before investing in this asset.