FET price has been underperforming compared to its closest competitors over the past week, down more than 8%. Despite being the second-largest AI cryptocurrency by market cap, it has struggled to keep pace with other major players in the sector.

While its competitors have seen impressive gains, FET has lagged behind, raising concerns about its ability to maintain its position. This recent underperformance puts its standing in the market at risk, especially as other AI coins continue to show strong momentum.

Is FET Lagging Behind Other AI Coins?

FET is currently the second-largest Artificial Intelligence coin by market cap, trailing behind TAO. It also ranks second in weekly trading volume, just behind WLD. However, in terms of performance, FET has fallen behind its competitors over the past week, with its price down by 8.16%.

This is significantly lower compared to the impressive gains seen by its peers, such as RNDR, with a 39.14% increase, and WLD, with 17.5%.

These recent figures suggest that FET could be losing momentum in the AI cryptocurrency race, putting its status as the second-largest AI coin at risk.

If RNDR continues to rise by just 15% more and FET remains stable, their market caps would be equal, potentially leading to a shift in the rankings.

FET Whales Decreased In The Past Week

The number of addresses holding between 1,000,000 and 10,000,000 FET currently stands at 149, down from 153 on November 3. From that day until November 9, this figure declined consistently, bottoming out at 147.

Tracking the activity of these whale addresses is crucial, as they often significantly influence price movements.

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Author: Tiago Amaral