The FET Alliance, a notable AI-themed altcoin, has announced plans to burn 5 million FET tokens as part of its deflationary strategy, scheduled for January 10, 2025. This will be the first token burn within the ecosystem, aimed at reducing supply and potentially boosting the value of the currency.

Following the announcement, significant interest has surged in the cryptocurrency community on social media platforms. Over the past week, the price of FET has risen by 14%. However, it is still 57% less than its peak price nine months ago at 3.47 USD.

FET currently ranks as the sixth largest AI-themed altcoin with a market cap of 3.63 billion USD. Its operations across MAJOR chains such as Ethereum, BNB Chain, and Cosmos suggest strong growth potential in the AI sector.