The Fetch.ai smart coin project plans to burn 5 million tokens on January 10, 2025. By doing so, it aims to reduce supply and increase demand. The recent enthusiasm for smart coins has also fueled speculation about a possible FET rebound. Meanwhile, the price of $FET has risen by 2 percent in the past 24 hours. Analysts are predicting a possible rebound towards $3.
Fetch AI co-founder Humayun Sheikh announced the burning of 5 million FET tokens on January 10. The initiative aims to reduce the overall supply of FET tokens, which is expected to increase their value by creating scarcity in the market. Token burns are usually welcomed by the cryptocurrency community, as such transactions typically lead to increased demand for the remaining tokens and higher prices. The move aims to actively manage the token supply, signaling a strong commitment to increasing the long-term value of its ecosystem.
In addition to the token burn, Fetch AI completed its strategic merger with #OceanProtocol and #SingularityNET , creating the Artificial Super Intelligence (ASI) Alliance. This merger strengthens its position in the decentralized AI sector by offering a competitive alternative to the tech giants’ centralized control over AI development. The merger also paves the way for a unified token for all three projects, the ASI token. According to experts, this is likely to increase the price of the smart coin. The community also has high expectations for price increases, making this a very important period for the project.
The Super AI Alliance ($FET ) has been on a steady rise as anticipation grows around the FET token burn. At the time of writing, FET is trading at $1.47, up 2% in the past 24 hours. The token has fluctuated between $1.44 and $1.50 over the same time frame.
