Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
FET Token Up 40%, Bullish Momentum May Continue

FET Token Up 40%, Bullish Momentum May Continue

HappyCoinNewsHappyCoinNews2024/11/30 10:11
By:HappyCoinNews

Token FET from AI project Fetch.AI has risen 40% in a week, breaking out of a consolidation phase that lasted almost nine months. The bullish momentum similar to the rally in 2023 continues.

FET Token Up 40%, Bullish Momentum May Continue image 0

FET Graph

According to experts, the ongoing rally will depend on whether the bulls can turn the $1,77 level, which served as a resistance point in March 2024, into reliable support.

One of the reasons for the bullish sentiment may be a recent announcement made by the developers of Fetch.AI. They presented the “earn and burn” mechanism, a deflationary strategy aimed at reducing the token supply by burning a portion of the fees received by artificial superintelligence (ASI) services. The program, scheduled to launch in December, will reduce the total supply of FET, which should theoretically increase the value of the token.

The development team plans to reduce the total number of FET tokens from 2,8 billion to 2,7 billion, destroying 100 million to begin with. This initiative coincides with the launch of a new platform, ASI Train, designed to incentivize developers to create specialized artificial intelligence models.

Collaboration between first-layer blockchain Injectable (INJ) and the AI ​​protocol Fetch.AI has also sent bullish signals to the crypto community and investors. The partnership will improve interoperability between the two platforms, simplifying the transfer of assets between the networks and strengthening the overall integration of the ecosystem.

EN @happycoinnews
EN @happycoinnews_en
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!