According to the latest announcement, the Artificial Superintelligence Alliance (FET) said they will burn 5 million FET tokens on January 10th.
Also Read: CUDOS may join the ASI Alliance with Fetch, Singularity and Ocean
Burning FET tokens to create deflationary pressure
In their announcement on their X platform, the Artificial Superintelligence Alliance project said this 5 million FET token burn will be the first time. This milestone is part of their ASI Train model in their roadmap. It is inspired by the approach supported by Humayun. This move paves the way for an exciting year of decentralized AI innovation and blockchain, leading to a more dynamic and comprehensive digital economy by 2025.
On November 26, 2024, the ASI Alliance announced ASI: Train, an ambitious initiative dedicated to developing specialized AI foundation models designed to address complex, industry-specific challenges in science and healthcare. Launching with 'Cortex', a brain-inspired robot model, ASI: Train leverages a decentralized framework to enable researchers, investors and community members to support AI development and share its success.
According to BeInCrypto's observations, data from CoinGecko shows the circulating supply of FET is around 2.609 billion. At the current FET price of around $1.49, up slightly 0.2% at the time of writing, the project's market capitalization has reached $3.88 billion, ranking 45th in the market. The current price is still 58% lower than the $3.45 recorded in March 2024.
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