AI-linked cryptocurrency tokens have continued to rally for the week despite the poor performance of major digital assets as warnings were issued ahead of the US Federal Reserve’s (Fed) interest rate decision on Wednesday.
Fetch.ai FETs
+14.30%
Recent developments in artificial intelligence technology have led to a surge in the value of cryptocurrency.
Fetch.ai’s native cryptocurrency, FET, is up 15% in the last 24 hours, trading at $0.62 at 10:40 a.m. ET. Fetch.ai focuses on using AI and machine learning to automate business tasks, especially in the areas of data processing and trading.
Fetch.ai’s native token, FET, has led a sustained upward trend for over two weeks.
FET exchange reserve reduction
Data from CryptoQuant shows that centralized exchange holdings of FET were declining in late November and throughout December. More than 26 million FET tokens have been removed from exchanges in the past two weeks, suggesting that traders are recognizing the value of holding cryptocurrencies in the long term. A decrease in supply may also affect the price valuation of the token.
“The recent rally in the AI cryptocurrency sector has been influenced by several factors, including increasing public interest in AI, technological advancements within the sector, and the continued development of AI-focused blockchain projects,” Jeff Fang, co-founder of Sei Labs, told The Block. .” he said.
FET reserves on centralized exchanges have been declining for over two weeks.
Another AI-related cryptocurrency token that is outperforming the market, Render is a platform that helps artists access computing power to render generative AI works. 
RNDR
+0.77%
, the native cryptocurrency operates based on a proof-of-work consensus mechanism. It has risen more than 3% in the last 24 hours and is now It is trading at $4.07.
Participating in the recent AI-related token rally is 
GRT
-0.73%
, the native token of The Graph protocol. The price is up 1% so far in the last 24 hours. It trades for $0.16. Notably, GRT prices have risen 20% over the past month.
Both RNDR and GRT were part of more than a dozen tokens listed on Binance Japan in late November.
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