Fetch.ai (FET) gains 43% after $150M development fund and Cosmos IBC announcement

cointelegraph.com:

Development across the cryptocurrency ecosystem continues to move forward despite the day-to-day whipsaw price movements and this progress is furthering the public’s awareness of Web3 and the value of blockchain technology. 

One project that has been climbing the charts amid a marketing push to develop better brand recognition is Fetch.ai, a protocol focused on building a token-based decentralized machine learning network capable of supporting the smart infrastructure being built around the digital economy.

Data from Cointelegraph Markets Pro and TradingView shows that the price of FET has climbed 43.13% over the past two days, rallying from a low of $0.322 on March 21 to an intraday high at $0.46 on March 23 as its 24-hour trading volume underwent a five-fold increase.

Three reasons for the building interest in Fetch.ai are the launch of a $150 million development fund, plans to further integrate the project into the Cosmos ecosystem and the recent launch of a large-scale marketing campaign.

The biggest news to come out of the Fetch ecosystem was the March 22 launch of a $150 million ecosystem development fund, in conjunction with MEXC Global, Huobi and Bybit, that is aimed at attracting developers and established projects to the Fetch.ai ecosystem.

Ecosystem development funds have become a popular theme across the cryptocurrency community as projects have found them to be a useful way of attracting new projects and users to their protocols in a field that is becoming increasingly crowded and difficult in which to gain traction.

A second major development bridging increased attention to Fetch.ai has been its ongoing integration with the Cosmos ecosystem and Interblockchain Communication Protocol.

A new governance proposal