FET Skyrockets After $50M Buyback Reveal — Crushing Top AI Tokens in Surprise Rally!

Jakarta, Pintu News – FET, the main token supporting the Artificial Superintelligence Alliance (ASI) ecosystem, traded with a bullish trend on Thursday (19/6), and managed to outperform almost all artificial intelligence-based cryptos.

This rise came after the Fetch.ai Foundation announced a $50 million buyback program. The community considered this move as a bullish fundamental for FET.

$50 Million Buyback is Strong Proof of Trust in FET Utility

The token, which belongs to the Artificial Superintelligence Alliance (FET), saw a rise of more than 7% and was trading at $0.7017 on June 19, 2025. With this surge, FET managed to outperform the top 30 AI cryptos based on market capitalization metrics.

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This price increase comes after the network announced a buyback initiative to strengthen the value of their native tokens. The move comes amid growing interest in their AI-based agent platform and ASI-1 big language model.

According to Fetch.ai CEO Humayun Sheikh, the buyback process will take place across major exchanges. He stated that this move reflects the increasing utility of the platform as well as the belief that FET is currently highly undervalued.

This announcement attracted attention from both traders and institutional players. The interest arose mainly because ASI Alliance – the merger of Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCP) – started to show significant progress.

Solid Intel, a popular crypto news aggregator on X (Twitter), notes that this buyback is directly related to the increasing utility of ASI1 and their agent platform. This indicates that the AI infrastructure of the alliance is starting to findproduct-market fit.

Fund Injections from DWF Labs and Technical Setups Drive Bullish Momentum

Adding to the bullish sentiment, blockchain analyst Lookonchain reported that crypto market maker DWF Labs transferred $45 million in USDT to ASI Alliance just hours before the buyback announcement was made.

These USDT injections from institutions as well as the large-scale buyback program have made FET one of the best performing AI tokens today.

Analysts like Satori_BTC note that the timing of this buyback technically coincides with an important support level.

“They are really risking the value of ASI and their agent platform. Technically, FET has just touched the lower Bollinger Band – a key support zone. Will there be a bounce after this?” writes Satori.

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Is Buyback an Effective Strategy to Support Token Value?

Indeed, buybacks are considered a bullish factor aimed at reducing the circulating supply of an asset. The perception of increased scarcity can push token prices up, assuming demand remains constant or increases.

However, it is important to note that a recent study from Messari concluded that buybacks are actually ineffective. Experts warn that buybacks conducted at inappropriate times lead to inefficiencies and unrealized losses, and divert resources from innovation or growth.

Even so, as reported by the BeInCrypto page, Messari cited factors such as revenue growth and market narrative as the main drivers of token prices, not solely buybacks.

In this context, the spike in FET price comes as the buyback exercise reflects the growing confidence in the emerging ASI ecosystem. The project aims to deliver a decentralized and interoperable foundation for AI applications.

The ASI-1 model is designed to support autonomous agent workflows that can operate across networks and data sources. This is potentially a breakthrough in the application of AI in Web3, especially amidst the increasing adoption of the ASI-1 model language and its proprietary agent platform.

The strategic alignment between ASI’s platform utility metrics and capital allocation seems to have received a positive response from the market, although there is still skepticism towards the effectiveness of buybacks in the crypto space.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. FET Outperforms Top AI Tokens After $50 Million Buyback Announcement. Accessed on June 20, 2025