The FET Foundation recently transferred 6 million $FET tokens, valued at approximately $8.7 million, to DWF Labs just two hours ago.
Of that, 2 million $FET have already been deposited on Binance. This move has sparked curiosity and speculation within the crypto community.
Back in February, DWF Labs made a significant impact on the price of $FET, frequently trading in line with market movements, which contributed to a massive 543% increase in the token’s value.
Now, investors are wondering whether history is about to repeat itself—will this be another push that sends $FET soaring, or is it simply a large selloff?
FET 基金会于 2 小时前向 DWF Labs 转移 600 万枚 $FET（约 870 万美金），目前已有 200 万枚充值进 #Binance，这是要搞什么动作？
想起了今年二月 DWF 配合行情频繁交易 FET，助推币价暴涨 543% 这是要重复上次的剧本，还是单纯的出货呢
钱包地址 https://t.co/IpTnQb65Yx https://t.co/ZP2s7rDupt pic.twitter.com/UHpcnwz0h4
— Ai 姨 (@ai_9684xtpa) October 16, 2024
$FET is currently at the forefront of the AI coin market, benefiting from an “AI super cycle.” In the last bull run, $FET experienced a meteoric rise, going from just $0.04 to about $1.19.
$FET Positioned For Another Bull Rally
With the current resurgence of interest in AI-related projects, fueled by the broader adoption of AI technologies and institutional investments, $FET could be positioned for another significant rally. This time, the momentum is bolstered by the inclusion of ETFs and a surge of institutional money, which was less prevalent in the previous cycle.
One of the best set ups this cycle imo so dips are for buying#FET is at the forefront of AI coins in an AI super cycle
In the last bull run FET went from about $0.04 -> about $1.19 for a 29x Alhamdulillah
Now we are here again but this time we have ETFs and… pic.twitter.com/HdiqOESSL9
— BILAL (@Crypt0Bilal) October 16, 2024
The large transfer of $FET to DWF Labs raises important questions about the future trajectory of the token. Will DWF Labs employ the same strategy that led to a dramatic price increase earlier this year, or is this a prelude to large-scale selling?
With the AI super cycle gaining steam, the upcoming weeks could be crucial in determining the direction of $FET’s price movement. Investors will be watching closely to see how this unfolds.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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