FET Drops 5% After Ocean Exits ASI Alliance Shock

Token Swap Nearly Complete, Buyback Plan Starts

As part of the earlier agreement, 81% of Ocean’s token supply has already been converted to FET at a fixed 1:0.433226 ratio. Around 270 million OCEAN tokens remain in circulation, held across roughly 37,000 wallets. Token holders can still swap OCEAN for FET using supported platforms such as Coinbase, Kraken, Upbit, and Uniswap.

With the split confirmed, Ocean has announced a token buyback and burn plan. The foundation will use profits from its ecosystem to reduce token supply, aiming to support price stability under its standalone strategy.

FET Price Drops After Exit News

FET fell 5% after news of Ocean’s exit. The token is now priced at $0.5276, reflecting a 21.5% drop over the past month. Market cap is at $1.25 billion, down 5%. Despite the price decline, 24‑hour trading volume rose to $110.95 million, a gain of nearly 12%.

The price reaction followed concerns that OCEAN tokens may have been moved to exchanges before all users had a chance to redeem. One community member said, “FET appears to have been dumped at a higher market cap than redemption gives,” raising questions about fairness in the process.

Market Focus Turns to Remaining Tokens and Stability

With 270 million unconverted OCEAN still in the market, traders are watching how the rest of the migration will unfold. The buyback plan and Ocean’s next moves will likely shape short‑term sentiment.