Animation Sequence assets when opened up in the Animation Editor can have compression applied to them.
To do this, from the Menu Bar select Asset then select Apply Compression (as seen below).
When choosing to apply compression, the Animation Compression window will open.
Each option provides a different compression method as outlined in the table below:
Animation compression algorithm that is just a shell for trying the range of other compression schemes and picking the smallest result within a configurable error threshold.
Bitwise Compress Only
Bitwise animation compression only; performs no key reduction.
Reverts any animation compression, restoring the animation to the raw data.
Remove Every Second Key
Keyframe reduction algorithm that simply removes every second key.
Remove Linear Keys
Keyframe reduction algorithm that simply removes keys which are linear interpolations of surrounding keys.
Compress each track independently
Keyframe reduction algorithm that removes keys which are linear interpolations of surrounding keys, as well as choosing the best bitwise compression for each track independently.
Remove Trivial Keys
Removes trivial frames of tracks when position or orientation is constant over the entire animation from the raw animation data.