FET Alliance Announces First Token Burn to Boost Ecosystem Value

The newly formed Artificial Superintelligence Alliance (FET), a token resulting from the merger of FET, OCEAN, and AGIX, has announced its first major token burn.

On January 10, five million FET tokens will be permanently removed from circulation, a move aimed at introducing deflationary pressure within the ecosystem.

This announcement, shared via the project’s official account on X, marks a significant milestone for the alliance. While the news has yet to trigger a substantial rally, FET’s price has seen a 14% increase over the past week. With a market cap of $3.63 billion, FET is considered a leading token in the artificial intelligence crypto space.

Currently, FET ranks as the sixth-largest AI-focused altcoin globally, following NEAR, which boasts a $6.7 billion market cap.

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Despite its strong presence in the AI sector, FET remains 57% below its all-time high of $3.47, achieved nine months ago. The token operates across Ethereum, BNB Chain, and Cosmos networks, positioning it as a versatile player in the blockchain ecosystem.

As the alliance continues to develop, the upcoming token burn could pave the way for future growth, reinforcing FET’s position in the competitive AI-themed crypto market.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.