Fetch.ai Surges 17% Amidst OpenAI-Sam Altman Drama; FET Finds New Support at This Level

AI and big data crypto tokens like Fetch.AI (FET) has embarked on a recovery campaign shortly after former OpenAI CEO Sam Altman’s layoff announcement impacted their combined market valuation.

According to data from CoinGecko, FET is up as follows over different timeframes:


The recent uptick in FET price comes on the heels of Altman’s announcement last week of layoffs at OpenAI, the AI research lab he co-founded back in 2015. The news put pressure on AI crypto tokens as investors weighed the implications of potential reduced demand in the future.

Founded in 2017 and launched via IEO on Binance in March 2019, Fetch.AI is an artificial intelligence (AI) lab building an open, permissionless, decentralized machine learning network with a crypto economy.

The Fetch.AI model is rooted in use cases like optimizing DeFi trading services, transportation networks (parking, micromobility), smart energy grids, and travel—essentially any complex digital system that relies on large-scale datasets.

Analyst Crypto Tony shared a tweet highlighting that “super solid weekly close above the resistance now support zone at $0.48.”

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However, it appears the selloff was overdone, as Fetch.AI and other AI-focused projects have started recovering lost ground this week. While macro conditions remain challenging, the long-term growth story for AI cryptos remains intact.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com


Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.