Filecoin, FET, NEAR Lead Select Altcoin Season Gains As Market Fear Persists
Altcoin trading stayed selective on Friday, even as a handful of tokens logged strong advances against a cautious backdrop. The Fear and Greed Index hovered around 21, suggesting risk appetite remains thin despite new activity in sectors linked to AI, storage, and infrastructure.
Filecoin, Artificial Superintelligence Alliance’s FET, and Near Protocol each gained sharply, offering a narrow but telling view of where investors are concentrating during an uncertain phase of the cycle.
Filecoin Extends Rally on Ecosystem and AI Ties
Filecoin rose about 69% in 24 hours to around $2.34, lifting its market capitalization above $1.66 billion. The move follows a series of ecosystem upgrades and rising expectations ahead of developer events later this month.
The network recently introduced a gas fee cut of about 50%, which coincided with an increase in new deals and overall utilization.
The chain’s positioning in decentralized storage has become increasingly tied to AI and DePIN discussions. The combination of lower costs and real data workloads has helped traders view Filecoin as a platform that could anchor decentralized compute growth.
Market data also show deeper order books and rising open interest, an early indication that trading participation is extending beyond short-term speculation.
FET Gains From Renewed AI Momentum
Artificial Superintelligence Alliance’s FET traded near $0.32 after a 49% rise in 24 hours. The token, which links decentralized AI compute and automation services, continues to act as a liquid expression of AI enthusiasm within crypto.
FET Price (Source: CoinMarketCap)
The alliance’s integration of multiple machine learning projects under one token remains a key draw for traders who seek AI exposure without relying on equity markets.
The current flow resembles previous cycles of AI enthusiasm but now aligns more closely with infrastructure-backed narratives such as Filecoin’s. The shared theme of data, compute, and protocol-level utility has kept both assets near the top of watchlists heading into the weekend.
Near Protocol Tracks Onchain Activity
Near Protocol advanced about 26% to $2.5, continuing a steady climb that began earlier in the week. On-chain data show consistent user activity and growth in wallet counts, while recent reports have pointed to higher transaction throughput and continued integration of application-layer projects.
Traders have grouped NEAR alongside other large layer-one chains that demonstrate concrete network demand even during weak sentiment. Its inclusion in conversations around AI-compatible infrastructure has added to speculative interest, helping maintain liquidity in key trading pairs.
Altcoin Season in Fear
The Altcoin Season Index remains around 26, well below levels associated with wide participation. Despite that, targeted rallies in tokens such as Filecoin, FET, and Near suggest that capital is rotating selectively toward networks with real economic use cases and active development.
The following weeks in November will test whether enthusiasm for decentralized compute and AI-linked assets can expand beyond a few leaders or remain confined to isolated bursts of trading momentum.
If current liquidity holds while volatility eases into the weekend, these sectors may continue to attract attention even while most of the market stays risk-averse.
The post Filecoin, FET, NEAR Lead Select Altcoin Season Gains As Market Fear Persists appeared first on Cryptonews.
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