Fetch AI has merged with Ocean Protocol and SingularityNET to operate as the Artificial Superintelligence Alliance (ASI). The planned burn of 5 million FET tokens in January 2025 has led to positive expectations among investors, with steps taken to reduce the supply. Growing interest in decentralized artificial intelligence is fueling speculation that the FET price may rise to $3 in a short time.
Effect of 5 Million Token Burn on FET Price
Humayun Sheikh, co-founder of Fetch AI, announced that the 5 million FET token burn, which will take place on January 10, aims to reduce the total supply. A decrease in the total supply may increase the value of the token, creating scarcity in the market.
Token burns are generally welcomed by the crypto community because they can increase demand for remaining tokens, causing prices to rise. Supply management demonstrates a commitment to increasing the long-term value of the ecosystem.
“Our first burn will take place on January 10 and this will be an important step to increase the value of FET,” said Humayun Sheikh.
Strategic Importance of ASI Merger
ASI was formed by the merger of Fetch AI, Ocean Protocol and SingularityNET. This merger aims to accelerate the development of decentralized artificial intelligence technologies and offer an alternative to the centralized control of tech giants.
The merger also paved the way for the emergence of the ASI token. By combining the resources of the three projects, this new token can create a positive impact on the market and support the FET price.
The Future of AI Tokens
As ASI approaches the 5 million FET token burn, the FET price is reportedly trading at $1.47. It is a matter of curiosity what effect the decrease in supply will have on the price as the burning event approaches.
Expert CW stated that FET retested after breaking the falling wedge formation and predicts that the price may rise soon. CW stated that FET could reach its target price of $2.25.
Another expert, Scient, stated that the price of FET may rise to $ 3, but if it falls below $ 1,365, it may drop to $ 0.8.
The growing interest in the field of artificial intelligence is creating a positive environment in the market, especially by increasing the demand for high-end AI coins. This situation strengthens the price increase expectations for FET.
Fetch AI’s strategic steps and token burn plans are attracting attention in the crypto market and creating a positive atmosphere among investors.
Fetch AI’s future strategies and advances in artificial intelligence can provide investors with additional information, helping them make informed decisions. Steps such as token burning and merger can play an important role in the long-term success of the project.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
