FET, the cryptocurrency tied to the Artificial Superintelligence Alliance, has been showing considerable growth in both large transactions and active addresses, indicating a rise in investor engagement. Over the past 24 hours, the cryptocurrency experienced a dramatic 172.7% jump in large transactions—those valued at $100,000 or more. In addition to this, the number of active addresses has also risen significantly, pointing to broader adoption. These changes suggest that FET is gaining momentum in the market, but how might these trends influence its price in the near future?

Large Transactions on the Rise

Recent data from IntoTheBlock highlights a notable increase in large transactions for FET. Over a 24-hour period, the number of transactions exceeding $100,000 jumped from 33 to 90, marking an impressive 172.7% increase. This surge suggests that larger investors, often referred to as “whales,” are becoming more involved in FET’s market.

The involvement of whales typically indicates growing confidence in an asset. As these investors tend to buy large quantities of the asset, their actions can lead to higher demand, potentially pushing the price upwards. This influx of institutional and high-net-worth investors could significantly influence FET’s price trajectory in the coming days.

Active Addresses Indicate Broader Adoption

In addition to the rise in large transactions, FET has also seen a surge in the number of active addresses. Over the past week, the number of active addresses has increased by 142.4%, with a 44.02% rise in just the last 24 hours. Active addresses are an important metric for understanding how many unique wallets are interacting with a cryptocurrency. A jump in active addresses typically signals that more users are engaging with the token, which often points to broader adoption.

This growth in active addresses suggests that FET is gaining traction not only among retail investors but also within institutional circles. It indicates that more people are using FET, either as a speculative investment or for its intended purpose within the network. As a result, the rise in active addresses suggests that FET is moving past the speculative phase, with a stronger focus on long-term use and adoption.

Price Performance Reflects Positive Market Momentum

The surge in both large transactions and active addresses is mirrored in FET’s price action. Currently trading at $1.50, FET has experienced a 1.20% increase in the past 24 hours. Over the past week, the altcoin has gained 32.68%, signaling significant bullish momentum. Even on the monthly chart, FET has seen a 3.78% increase, indicating that the positive trend has been sustained over time.

At present, FET is approaching a key resistance level at $1.70, which it has struggled to break in the past. Resistance levels are often seen as price points where an asset tends to face downward pressure. However, if buying activity remains strong, these levels can be surpassed. Given the current momentum, there’s potential for FET to break through this resistance and move higher.

What’s Next for FET?

The recent uptick in both large transactions and active addresses places FET in a strong position for further growth. The ongoing increase in investor interest, especially from institutional players and high-net-worth individuals, suggests that demand for FET could continue to rise, driving the price higher.

If FET can overcome the $1.70 resistance, the next target could be the $2.00 mark, which would represent a significant milestone for the token. However, as with any cryptocurrency, market volatility remains a factor to consider. While current trends are promising, investors should be prepared for potential corrections or shifts in market sentiment.

Conclusion: FET’s Outlook is Positive, but Caution is Key

The rise in large transactions and active addresses signals growing adoption and investor interest in FET. These trends suggest that the cryptocurrency could see further demand, which might lead to higher prices in the near term. The combination of increased institutional participation and positive price movement positions FET for continued growth.