Fetch.AI (FET) token will be the reserve currency of the Superintelligence Alliance (ASI), a merge of three Artificial Intelligence (AI) projects: Fetch.AI, Ocean protocol and SingularityNET.
FET whales deposit their holdings to centralized exchange Binance on Wednesday. Fetch.AI minted nearly $3 billion in FET tokens to support the ASI token exchange. FET loses more than 2% on the day, down to $2.2765. Fetch.AI token will be the reserve currency of the Superintelligence Alliance , a merge of three Artificial Intelligence projects: Fetch.AI, Ocean protocol and SingularityNET. The Fetch Foundation minted additional tokens to meet the needs of the ASI alliance.
and AGIX holders can exchange their assets for FET, the reserve currency. FET will be exchanged for ASI, at 1:1 ratio. To meet the need for FET as the reserve currency, the foundation minted 1.48 billion tokens, worth $2.96 billion, five days ago. The new supply of FET is 2.63 billion. With a massive increase in supply, FET’s large wallet holders have taken to exchanges to shed their asset holdings.
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