Interactive Strength Inc., a Nasdaq-listed fitness equipment company, is planning a $500 million crypto treasury focused on Fetch.ai tokens.
This investment is aimed at integrating Fetch.ai's AI software agents into Interactive Strength's fitness offerings.
The initial phase of funding for this treasury includes a $55 million investment from ATW Partners and DWF Labs, with BitGo managing FET holdings.
Despite the investment news, FET's price didn't immediately surge, but analysts view the current dip as a temporary buying opportunity.
Technical analysis shows that FET has strong support at $0.70-$0.72, with possible for a rally to $1.10-$1.35 if bullish momentum holds.
AI and blockchain technology have hit a brand new merger this week.
According to reports, Nasdaq-listed fitness equipment manufacturer Interactive Strength Inc. (TRNR) is planning to establish a $500 million crypto treasury focused on AI tokens.
This fund will specifically be focused on Fetch.ai (FET) and if successful, this move would create the largest publicly listed AI token treasury in the US.
Here are the details of this move, and what it means for the price of $FET.
What Is Interactive Strength and Why FET?
Interactive Strength is best known for producing smart fitness machines like CLMBR and FORME, which are designed to offer users personalized workout experiences.
However, considering the rise of AI in the world today, the company has seen an opportunity to integrate intelligent automation into its offerings.
Because of this, Interactive Strength is investing heavily in Fetch.ai’s FET token to create autonomous software agents.
These agents will be capable of performing complex tasks across sectors like healthcare, finance, energy and now, fitness.
To fund this massive deal, Interactive Strength has signed a Securities Purchase Agreement and is planning to raise up to $500 million.
The first phase of this capital raise began with a $55 million investment from ATW Partners and DWF Labs.
Importantly, TRNR has also partnered with BitGo to manage and secure its FET holdings.
Even though the company has not yet announced exactly how much FET it has acquired so far, it is pledging full transparency.
It is also planning to release detailed information in its next filing with the U.S. Securities and Exchange Commission (SEC).
Price Boom Incoming for FET?
This move places Fetch.ai’s FET token in the spotlight as one of the best investor bets in the crypto space.
FET is now ready to stand alongside tokens like Solana, Ethereum, XRP and Bittensor as assets being hoarded by institutional investors.
Even though FET is the fourth-largest AI token by market cap according to CoinMarketCap, the announcement didn’t immediately boost its price.
Despite the lack of reaction from the cryptocurrency, however, analysts like Ted Pillows see this dip as temporary.
According to a recent update, Pillows believes that $0.70–$0.72 is a strong support zone, and a breakout above $0.80 could lead to a rally towards $1.10–$1.20.
Is FET Headed Towards More Bullishness?
According to the charts, the insights from Ted Pillows holds.
The Fibonacci retracement tool on the daily chart shows that the $0.7 price level has stood as a major price support for FET since the cryptocurrency broke above in mid April.
Even though the cryptocurrency appears to have lost its standing above the 50-day Simple Moving Average (SMA), the $0.71 price level appears to be a strong source of support.
This means that if the bears win the fight and initiate any breaks below the $0.71 price support, the cryptocurrency will likely crash further down towards $0.58.
The RSI on the daily chart shows that FET is currently neutral, in terms of bullish versus bearish strength.
Still, this does not remove the risk of a price crash towards $0.58. If a crash towards this price level occurs, the bulls still have a chance to stage a comeback.
However, the ultimate invalidation of this bullish outlook would be a break below $0.374.
If the $500 million investment plan from Interactive Strength materializes as bullish strength for FET, the cryptocurrency could see a comeback towards targets like $0.981, $1.168 and $1.356.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
This Nasdaq-Listed Company Wants $500M Worth of FET — Should You Be Bullish?
Key Insights
AI and blockchain technology have hit a brand new merger this week.
According to reports, Nasdaq-listed fitness equipment manufacturer Interactive Strength Inc. (TRNR) is planning to establish a $500 million crypto treasury focused on AI tokens.
This fund will specifically be focused on Fetch.ai (FET) and if successful, this move would create the largest publicly listed AI token treasury in the US.
Here are the details of this move, and what it means for the price of $FET.
What Is Interactive Strength and Why FET?
Interactive Strength is best known for producing smart fitness machines like CLMBR and FORME, which are designed to offer users personalized workout experiences.
However, considering the rise of AI in the world today, the company has seen an opportunity to integrate intelligent automation into its offerings.
Because of this, Interactive Strength is investing heavily in Fetch.ai’s FET token to create autonomous software agents.
These agents will be capable of performing complex tasks across sectors like healthcare, finance, energy and now, fitness.
To fund this massive deal, Interactive Strength has signed a Securities Purchase Agreement and is planning to raise up to $500 million.
The first phase of this capital raise began with a $55 million investment from ATW Partners and DWF Labs.
Importantly, TRNR has also partnered with BitGo to manage and secure its FET holdings.
Even though the company has not yet announced exactly how much FET it has acquired so far, it is pledging full transparency.
It is also planning to release detailed information in its next filing with the U.S. Securities and Exchange Commission (SEC).
Price Boom Incoming for FET?
This move places Fetch.ai’s FET token in the spotlight as one of the best investor bets in the crypto space.
FET is now ready to stand alongside tokens like Solana, Ethereum, XRP and Bittensor as assets being hoarded by institutional investors.
Even though FET is the fourth-largest AI token by market cap according to CoinMarketCap, the announcement didn’t immediately boost its price.
Despite the lack of reaction from the cryptocurrency, however, analysts like Ted Pillows see this dip as temporary.
According to a recent update, Pillows believes that $0.70–$0.72 is a strong support zone, and a breakout above $0.80 could lead to a rally towards $1.10–$1.20.
Is FET Headed Towards More Bullishness?
According to the charts, the insights from Ted Pillows holds.
The Fibonacci retracement tool on the daily chart shows that the $0.7 price level has stood as a major price support for FET since the cryptocurrency broke above in mid April.
Even though the cryptocurrency appears to have lost its standing above the 50-day Simple Moving Average (SMA), the $0.71 price level appears to be a strong source of support.
This means that if the bears win the fight and initiate any breaks below the $0.71 price support, the cryptocurrency will likely crash further down towards $0.58.
The RSI on the daily chart shows that FET is currently neutral, in terms of bullish versus bearish strength.
Still, this does not remove the risk of a price crash towards $0.58. If a crash towards this price level occurs, the bulls still have a chance to stage a comeback.
However, the ultimate invalidation of this bullish outlook would be a break below $0.374.
If the $500 million investment plan from Interactive Strength materializes as bullish strength for FET, the cryptocurrency could see a comeback towards targets like $0.981, $1.168 and $1.356.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.