CandleFocus FET Rallies 40%, Breaking Nine-Month Lull With New Bullish Momentum
2024-11-29
Author: Content Editor
Fetch.AI's FET token has experienced a 40% weekly gain, breaking out of its consolidation phase and showing similar bullish momentum to its 2023 rally. This positive sentiment is fueled by Fetch.AI's upcoming deflationary "Earn-and-Burn" initiative, which aims to reduce the token supply and increase its value. The initiative will start in December by burning up to 100 million tokens and reducing the total supply from 2.8 billion to 2.7 billion. Additionally, a collaboration between Fetch.AI and Injective will improve interoperability and ecosystem integration. The long-term success of FET will depend on the performance of these initiatives within the ASI ecosystem.
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