Fetch.ai and Ocean sound like incredibly exciting projects with various use cases, but what about the investment potential? Our OCEAN vs FET comparison below will reveal all details, ranging from project basics to tokenomics and price predictions.
What Do We Know About Ocean?
Ocean is a crypto protocol aiming to offer a decentralized market where you can exchange and monetize data. It’s an open-source project that secures decentralization, meaning no single authority controls the market. Trent McConaghy and Bruce Pon established this protocol in 2017.
The project’s native token is OCEAN, which is released on Ethereum. The consensus mechanism used by Ocean is the Proof-of-Authority. PoA is designed to improve transaction volume and speed. Eliminating the need for mining enhances efficiency while keeping the BFT for security purposes.
Ocean offers impressive interoperability, making it easy to share data across various applications, industries, and domains. The idea is to offer a fresh, fast, and secure way to exchange data and collaborate. Scalability is another important characteristic, and developers work hard to maximize it.
Less than 50% of total OCEAN tokens are currently in circulation. The circulating supply is now 613,099,141 OCEAN coins, while the maximum is 1.41 billion. Creators have a 5-year vesting on coins, which shows they believe in the project, while seed contributors have tokens locked in for 2.5 years.
OCEAN Price Prediction
The token now has a value of around $0.33. Its market cap is above $200 million, but that’s only enough to be between 120th and 150th places in the crypto rankings. OCEAN was at an all-time low in 2019, probably because it took time for the platform to increase in popularity. In 2021, the token reached $1.9413, which is its all-time high.
Although long-term prognoses are encouraging, they also vary significantly. Priceprediction.net says that OCEAN could reach $0.47 by the end of 2023. The token will continue rising in value, reaching at least $1.8 in 2025.
OCEAN can be an interesting trading opportunity, but you might want to stick to proven players like Ethereum. You can visit the HNT to ETH exchange to convert Helium and other tokens to Ethereum.
What Do We Know About FET?
Fetch.AI resides on the idea that smart contracts could actually be intelligent. The platform is based on blockchain technology, but it also has a machine learning element. Its goal is to create and develop a digital economy without any human interference. Toby Simpson, Humayun Sheikh, and Thomas Hain are the project’s co-founders, and the official launch was in 2017.
FET is the network’s native token, and it’s issued on Ethereum. One of its use cases is trading automation, but it has the potential to provide solutions in many industries. The decentralized system ensures there’s no central authority, and scalability has been on developers’ minds ever since the beginning.
FET has a market cap set at $196,536,126, which is enough to be among the top 150 cryptocurrencies. Its total supply is 1.15 billion tokens, but only around 821 million are in circulation at the moment.
FET Price Forecast
The coin’s current worth is $0.2396, which is far more than its all-time low in 2020 ($0.008). FET was worth $1.18 in 2021, but in line with the overall crypto trends, it lost value during the market crisis.
As for price predictions, the token will continue to stabilize in 2023. Before the year ends, most experts believe that FET will be worth about $0.30. Some more optimistic forecasts put it at over $0.40, but not too many are courageous enough to put that prognosis.
In 2024, however, FET will improve significantly. It could be worth anywhere from $0.38 to $0.70. As for 2025, the forecasts are anywhere from $0.55 to $0.90.
OCEAN vs FET: How to Choose the Best Option?
Many crypto projects are innovative, but Ocean and Fetch.ai take that to the next level. They have impressive potential, and it seems like it’s a matter of time before they will fulfill it. However, the best investment option is only the one that sounds good to you. Both platforms have various use cases and decent token scarcity, so you could go with your gut or find other factors that could affect your final choice.