The price of the AI ââAlliance coin (FET) has risen by 35% this month, marking a strong recovery from the declines it saw in the early stages of AI-related crypto mergers. This performance makes September a positive month for the cryptocurrency.
Despite this surge, FET price has seen a 5.46% decline over the past seven days, which is attributed to some investors taking profits from the recent rally. However, it is clear that there is a significant accumulation process taking place, as large investors appear to be preparing for a new breakout.
It seems that crypto whales have taken advantage of this drop as a buying opportunity. According to data from Santiment, the amount of tokens held by addresses holding between 10 million and 100 million FET has increased from 591.45 million on September 27 to 689.94 million today, meaning that whales have bought around 100 million FET in the past three days, worth an estimated $100 million.
