FET Suffers 5% Drop After Ocean Exits ASI Alliance

Fetch.ai (FET) witnessed a notable price dip of 5% following news of Ocean Protocol Foundation’s departure from the Artificial Superintelligence Alliance (ASI). Ocean, having exited the alliance after its board members stepped down, is now focusing on independent token control and project direction. The move marks a strategic shift for Ocean, allowing it to pursue its own roadmap without shared governance. 81% of OCEAN tokens have already been converted to FET at a fixed ratio, while around 270 million OCEAN tokens remain in circulation. Ocean has launched a buyback plan to stabilize the price following its withdrawal from ASI and token migration. This strategy aims to ensure sustained value despite the independent operation.