The Artificial Superintelligence Alliance token rose for the third consecutive day, reaching its highest point since June 27. 

Artificial Superintelligence Alliance coin (FET) jumped to a high of $1.5768 on Sept. 19, 127% above its lowest point this month. This rally mirrored the performance of most cryptocurrencies, which surged after the Federal Reserve slashed interest rates.

FET also spiked as data from Nansen showed it had over $7.8 million in centralized exchange inflows in the last 24 hours, representing a 127x jump from the previous average. A big increase in exchange inflows often signals that some holders are starting to sell.

Meanwhile, the number of FET tokens held by smart money wallets continued to rise, reaching a year-to-date high of 5.9 million. These smart money wallets increased to 25, up from last month’s low of 21.

Data also revealed that the volume of FET traded across exchanges surged to over $623 million, its highest point since March this year. According to CoinGlass, FET’s futures open interest rose to over $92 million, its highest level since June 9.

The Artificial Superintelligence Alliance token also gained momentum following several significant AI-related news developments. In China, Alibaba unveiled a series of AI tools, including over 100 open-source AI models.

Meanwhile, OpenAI is reportedly raising funds at a $150 billion valuation, solidifying its position as the biggest player in the AI industry. The company also partnered with T-Mobile, a move that the company believes will boost its earnings by over $39 billion in the long term.

The coin also rose ahead of an important vote in which alliance members will determine whether Cudos will become the next part of the alliance. The current three members of the alliance are Fetch, Ocean Protocol, and SingularityNET. 

Cudos, the potential new member, bridges the gap between blockchain and cloud computing by providing decentralized storage solutions. Its token was up by 13%, giving it a market cap of over $68 million.

FET, the biggest AI cryptocurrency, does well when there are good news about the industry. Other AI tokens like Bittensor (TAO) and Akash Network (AKT) have also jumped by double digits in the past few days.

A cryptocurrency analyst and trader is saying Bitcoin (BTC) is on the verge of entering a bullish phase over the coming weeks and months.

The analyst pseudonymously known as Rekt Capital tells his 88,100 YouTube subscribers that Bitcoin is “on the cusp of a breakout into the parabolic phase” after spending the past few months in a re-accumulation phase.

According to Rekt Capital, Bitcoin’s parabolic phase lasts a predictable amount of time in every cycle.

“So if we just see that 160 days after the halving is how long this re-accumulation phase lasts and we tend to see a bull market peak 550 days after the halving, then this parabolic phase should last 390 days or so, 400 days or so.

So it is roughly a year of parabolic upside that we see going into the bull market peak. And if that continues, indeed mid-September 2025, mid-October 2025 is when we would see a bull market peak occur for Bitcoin.”

Bitcoin is trading at $59,958 at time of writing, about 19% below the all-time high of approximately $73,800.

The pseudonymous analyst says that based on historical precedent, Bitcoin could hit a new all-time high over the coming days.

“…but we will reverse towards the upside at some point. And that point is coming quite soon because 160 days after halving is when we see a breakout to new highs.”

The Bitcoin halving occurred around 151 days ago on April 20th.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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