FET eases toward $0.23 after a roughly 51% monthly climb and a $1.56M token-converter exploit
AI Market Summary
FET cooled to around $0.23 after a sharp ~51% monthly run, with sentiment tempered by a disclosed ~$1.56M unauthorized withdrawal from a token converter and a subsequent derivatives liquidation flush. While the token rebounded from the initial dip, renewed selling and softer positioning metrics (funding near baseline, slightly lower open interest, reduced long share) point to more cautious short-term risk appetite in FET versus the broader AI-token rally.
Impact level
● Medium
Affected assets
FET/USDT+1.59%
AI Insight · FET/USDTAI Insight
● Neutral
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FET pulled back to around $0.23 after a roughly 51% month-long rally. At 07:00 UTC on September 20, the Artificial Superintelligence Alliance said on X that an unauthorized party withdrew about $1.56M in FET from a token converter. Following the disclosure, FET hit an intraday low of $0.1671 on the Binance perpetual market before rebounding over the following week. Selling resumed on September 28, dragging the price from $0.2493 to $0.2208 and leaving sentiment more cautious.
