The price of Artificial Superintelligence Alliance (FET) has been under pressure today, primarily due to market reactions following a tweet by the influential trader @ai_9684xtpa. The tweet, which indicated a neutral stance by the trader, led to a sell-off in AI-related tokens, including FET. This reaction was evident as FET's price dropped from $1.20 to $1.12 shortly after the tweet, reflecting a broader market sentiment shift towards caution in the AI token sector. The increased trading volume and sell orders suggest that followers of the trader interpreted the tweet as a signal to exit their positions, contributing to the downward pressure on FET.
Additionally, the closure of Andreessen Horowitz's London office to refocus on the U.S. crypto market may have added to the uncertainty surrounding AI-related tokens like FET. The venture capital firm's decision to pull back from the UK market could signal a shift in investment focus, potentially impacting projects that rely on such backing. This move comes amid a broader investigation by the U.S. House of Representatives into alleged debanking practices during the Biden administration, which could further influence market dynamics and investor sentiment.
The current price of FET is $1.210584, marking a 2.59% decrease today.