Yesterday, DWF Labs recharged 2 million FET tokens to Binance, worth approximately $2.68 million.
This transfer follows DWF’s recent role as a market maker for Fetch.ai, where it received a distribution of 6 million FET tokens on October 16.
Within the past week, DWF has moved a total of 4 million FET to Binance, valued at $5.56 million. This influx of tokens to the exchange has been accompanied by a 3.32% dip in FET’s price.
五分钟前 DWF Labs 再次向 #Binance 充值 200 万枚 FET，价值 268 万美金👾
作为 $FET 做市商的 DWF 在 10.16 收到 https://t.co/onf4I4KTNo 项目方分发的 600 万枚代币后，近一周已累计向交易所转移 400 万枚 FET，总价值 556 万美金，对应币价下跌 3.32%📉
钱包地址 https://t.co/IpTnQb65Yx https://t.co/cFrAQMoZhM pic.twitter.com/YdLclRSoeS
— Ai 姨 (@ai_9684xtpa) October 24, 2024
Fetch.ai ($FET) has demonstrated resilience in volatile markets. In October 2023, FET rebounded sharply from a 70% drop, rallying 300% over two months.
After a brief correction, it surged 550%, reaching a new all-time high just five months later—an impressive 20x recovery from its previous low.
For those concerned about the recent market pullback, this recovery history underscores FET’s capacity for rapid gains. Additionally, four major projects are now collaborating with Fetch.ai, further enhancing its growth prospects.
$FET showed us back in October 2023 how fast a 70% drop can be recovered. 📈
After months in the red, it surged 300% in just two months. Following a brief retracement, it skyrocketed by 550%, hitting a new ATH in just five months—a total 20x gain from that initial 73% dip. 🚀… pic.twitter.com/vyEc1eUGCE
— L E O (@CryptoLeo00) October 24, 2024
Fetchai And Injective INJ Redefining Proposals
Currently, two significant proposals are set to redefine both the Fetch.ai and Injective ecosystems. Proposal 32 introduces an IBC Protocol upgrade, enabling seamless cross-chain transfers between Fetch.ai and Injective. Proposal 33 outlines a software upgrade to merge Fetch.ai with the CUDOS network. Both proposals swiftly reached quorum with unanimous approval within just 40 hours, and they are expected to be finalized by October 27, 2024.
🚀 What’s Happening with $FET, $INJ, and $ASI?
Two major proposals are reshaping the Fetchai and Injective networks:
1. Proposal 32 upgrades the IBC Protocol to resume smooth cross-chain transfers between Fetchai and Injective.
2. Proposal 33 finalizes the software upgrade to… https://t.co/sWEwhvt9o2— Denis (@CryptoDSLX) October 25, 2024
These updates pave the way for improved cross-chain functionality, positioning FET for further advancements.
They also coincide with the launch of $ASI—a combined initiative from FET, OCEAN, and AGIX—which could bring a new wave of utility and interoperability across these blockchain networks. As these integrations solidify, Fetch.ai appears primed for substantial progress.
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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Image Source: wirestock/123RF // Image Effects by Colorcinch
