The ongoing political tussle between Kamala Harris and Donald Trump advanced to the next level when the Democratic candidate advocated the Artificial Intelligence (AI) and digital asset sector during her fundraising campaign. The attempt to mend the relationship between the Democratic Party and crypto has already bore fruit with some AI crypto tokens breaking out in double digits.

The $30 billion AI crypto district is flashing green this week, rising by 35% in a 7-day timeframe, with Bittensor (TAO) emerging as the top gainer with 88% in weekly gains. Fetch.AI (FET) and Near Protocol (NEAR), the two largest crypto currencies in the segment, also recorded a nearly 30% upswing.

Prime Setup For Fetch.AI Price To Rally Beyond $2?

As the United States candidates continue to make an effort for the crypto electorate’s vote, Artificial Superintelligence Alliance (ASI) stands out as a massive merger in the AI market. 

As Fetch. AI’s (FET) price spearheads to the highest point in a month, macro analysts believe $2 is an achievable checkpoint for FET in the coming days.

Fetch.AI, Ocean Protocol, and SingularityNET merged into and formed the Artificial Superintelligence Alliance (ASI). Initially meant to have ASI as the new ticker, the merged altcoin still trades under FET in most crypto platforms. On top of that, the Artificial Superintelligence Alliance could be looking to welcome a fourth member into its ranks, the CUDOS network.

How CUDOS Network Plans To Benefit The Alliance

The CUDOS proposal is still up for voting, and has been since the beginning of September 2024. If a member status is granted, CUDOS will provide cloud computing resources, assisting the ASI in managing huge AI workloads in a cost-effective manner. If approved, the CUDOS token will be merged into FET 112 to 1, after factoring in a one-time 5% merge fee.

If Fetch. AI (FET) indeed restored the $2 price target, this would spurt the Alliance back to June 7, 2024 levels, when FET’s global market cap consistently remained above $5 billion. Currently, the Artificial Superintelligence Alliance sports a market cap of $4,269,129,310, returning 677% yield in a 365-day timeframe. Meanwhile, the chances of an extended bullish streak continue to grow due to Fetch.AI’s (FET) bullish Chaikin Money Flow (CMF) index.

Hovering at a 0.21 on Artificial Superintelligence Alliance (ASI) one-day price charts, the CMF confirms a positive net flow, likely bolstered by major players coming back to accumulate new positions. As of press time, Fetch.AI (FET) trades at $1.69 with a 2% daily uptick, according to crypto price aggregator CoinGecko.

On the Flipside

The voting for CUDOS integration into the Artificial Superintelligence Alliance (ASI) ends today and is likely to be approved, despite CUDOS price initially dropping when the merger proposal went live.

Over 95% of voters granted permission for Cudos Network to join the ASI alliance, with both sides cheering the move of bringing thousands of GPUs to solidify the coalition’s status as a frontrunner in AI & crypto.

Why This Matters

The positive market reaction implies rising optimism about the future of AI-based crypto tokens under favourable regulatory conditions.

Source : DailyCoin - Sep 24, 2024