AI Crypto FET Surges 16% to Reach 3-Month High

Key Facts

1The AI-related cryptocurrency FET surged 16%, reaching its highest price level in three months.

2Trading data on Binance showed traders leaning toward long positions despite the broader ratio remaining below 1.

The AI-related cryptocurrency FET surged 16%, reaching its highest price level in three months. AMBCrypto reported that derivatives volume climbed 63% to $272 million, while open interest rose 21% to $125 million during the price rally.

Trading data on Binance showed traders leaning toward long positions with a ratio exceeding 2, even as the broader market ratio remained below 1. Exchange netflow turned negative, suggesting more tokens left exchanges than entered, while spot buy volume reached 123 million FET over a 24-hour period.