FET Crypto Continues Skyrocket: Key Factors Push Price to $3.48

Bittime – Fetch.ai (FET) is currently attracting attention as one of the best performing cryptocurrencies on the market. Over the last 24 hours, FET price has surged by 11.92%, accompanied by a surge in trading volume recording an increase of 138.25%. This price spike signals that FET may soon approach, or even surpass, its ambitious $3.48 price target.

Factors Driving FET Price Increases

Several key elements have been identified as key drivers of FET price growth. Doctor Profit, a well-known crypto analyst, revealed that FET is in an advantageous position to achieve significant gains. 

In its latest analysis, Doctor Profit highlights four main factors that have the potential to push FET to a price surge of 312.43% in the near future. The graph provided shows that the current setup is one of the most promising in the crypto market today. 

With key price levels marked, there is a high probability that FET could reach its expected price target if this positive trend continues.

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Increased Engagement and Scarcity of FETs

According to data from Coinglass, there has been a significant increase in Open Interest for FET, surging by 29% in the last 24 hours. This shows that many traders are willing to pay more to maintain their positions. 

On the other hand, Netflow on spot exchanges shows negative flows, i.e. more FETs are withdrawn than deposited. This reduces the number of FETs available on exchanges, which can cause prices to rise as supply dwindles.

Active Address Increase and Its Impact on FETs

Data from Santiment shows an increase in the number of active addresses since August 17. This spike indicates that interest among users and investors is increasing. 

With the decreasing supply of FETs available on exchanges and the increasing number of active addresses, there is strong potential for higher demand. If this trend continues, FET could reach or even exceed the price target predicted by analysts.

Conclusion

Overall, FET (Fetch.ai) showed promising performance with significant increases in price and trading volume. Factors such as scarcity on exchanges, increased market engagement, and positive technical analysis support the bullish outlook for FET. 

Although some short-term analysis predicts a peak price around $1, current data and indicators suggest greater growth potential towards a price of $3.48. Investors are advised to continue monitoring market developments and factors influencing FET prices to take full advantage of this investment opportunity.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.