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Fetch.ai upgrade: FET leaps 32% after refresh to mainnet wallet

By Darius McQuaid

15:10, 9 December 2022

Artificial intelligence robot touching futuristic data screen
Fetch.ai combines machine learning and artificial intelligence capabilities with blockchain technology - Photo: Getty Images

The native token of Fetch.ai, the Cambridge based artificial intelligence lab, FET, has increased by almost a third after the lab released its latest upgrade to the Fetch.ai wallet

As of 14:22 GMT on 9 December, FET was trading at $0.1123, up by 32.49% compared to the previous day, according to CoinMarketCap.

The mainnet wallet “is quick and easy to set up” Fetch.ai said , as well as “intuitive to use, and ultra-secure”.

It also enables a messaging feature that allows contacts to converse with each other “from inside the wallet”. Fetch.ai said: “These messages are end-to-end encrypted, so only you and the person you are communicating with can read the message.”

Additionally, the wallet allows users to transfer tokens to other accounts natively or by using the inter-blockchain communication (IBC) protocol.

The mainnet wallet also supports other Cosmos-based networks, such as Osmosis and Juno Network.

FET to USD

DOGE/USD

0.11 Price
+1.140% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

ETH/USD

3,193.91 Price
+0.980% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

XRP/USD

0.53 Price
-2.400% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

BTC/USD

60,021.00 Price
+2.520% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

Official AI partner of West Ham

In March 2022, Fetch.ai became West Ham United Football Club’s first official AI Partner of the men’s and women’s teams.    

West Ham play in the English Premier League.

Fetch.ai combines machine learning (ML) and AI capabilities with blockchain technology.

Fetch.ai said: “Under the terms of the partnership, Fetch.ai and West Ham United will seek to leverage and promote the impact of AI in improving businesses and day-to-day lives. The partnership will see the brand Fetch.ai, and its applications promoted on West Ham United’s matches at London Stadium across the LED perimeter advertising system and displays.”

Humayun Sheikh, CEO and founder of Fetch.ai, at the time said: “We are proud to be partnering with West Ham United. We’re very excited about bringing forth our AI solutions in new and creative ways to power the future of world class Premier League football, entertainment and technology for fans in the UK and around the world.”

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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