The German government’s massive sell-off is like a “nuclear bomb”, and the Mentougou compensation pressure can be called a “tungsten bomb”!
The sale of 1,300 BTC led to a 10% drop. Will the price return to $40,000 after paying 140,000 BTC?
Is it a bull market or a bear market now? The bull market is too fierce when it comes. After we all spent a bull market in cheers, we all forgot what the prelude to a bear market is.
Think about it, in 22 years, the arrival of the bear market was also accompanied by various negative factors and huge market crashes. Various miners sold off and institutions left the market one after another.
🈳📉 The continued decline in the crypto market has caused many people to be displaced, and the German government's sell-off and Mt. Gox's compensation have further led to a downward trend in market sentiment.
🈳📉 In addition, the current market liquidity is very poor, and the continuous outflow of stablecoins from the market will lead to a continuous decline in market purchasing power, which will become a bullish resistance, and the upward sentiment will be delayed before it turns around after fermentation.
It is even possible that the positive effects of the expected hype about the Ethereum ETF may be digested, and before there is substantial buying power, the power of such a large market sell-off can be called a "Tsar bomb."
The German government currently holds more than 40,000 BTC, worth $2.33 billion, and transferred a total of 1,300 BTC to Bitstamp, Coinbase, and Kraken exchanges one hour ago, which have now been sold in the market.
And in the last 3 hours, the account addresses were frequently sorted out. This information was the main reason for the panic drop in the market. Who doesn’t have the time to sort out their wallets? Unless there is a big move.
If Germany's massive sell-off is considered a nuclear bomb, then wouldn't Mentougou's compensation be equivalent to a "tungsten bomb" that directly set off half the globe?
With such a severe sell-off, who can escape unscathed?
There are really few projects that have escaped the disaster, especially since we have been complaining about the new projects we have been launching some time ago. Judging from the data above, it seems that those projects launched during this period are really being scammed, and it is really not because of careless friendships.
💰ZRO was given high hopes before it went online, but it continued to fall after opening and did not rise at all.
💰LISTA, known as Binance’s favorite, lured investors into buying at the opening, and then quickly fell and trapped investors, who were badly criticized.
💰ZK was covered in stains before it even went online, and was criticized for its airdrop, causing it to plummet as soon as it went online.
It seems that among these 4 unlucky guys, only the one who came online the earliest $IO has a relatively good reputation. He is the only one who has not been scolded to the point of bloodshed after he came online, and there is even a situation of supporting the market! ? !
IO selling pressure
The early circulation of IO mainly came from airdrops, which accounted for 42% of the total. This part was the main force of selling pressure. I also ran services and got more than 300 IOs in three phases. The first two phases were worth 1,520 US dollars. The selling pressure of airdrops in the early stage was higher than that of any previous project's airdrops.
The function of IO tokens seems to be only the reward part, but there are reports that in July and August, IO may launch a staking module to reduce liquidity.
IO uses a programmed token destruction system, which uses io.net to purchase and destroy from the income generated by the IOG network. The IO destruction mechanism will generate deflationary pressure on the token based on the amount of .
📈 Let’s talk about the most advantageous point of IO
Looking at IO, there were signs of market control within one hour of opening. It was understandable that there was not so much capital controlling the market in a bad market, and then the market fell uncontrollably.
The mechanism of the project itself may not have a high network adoption rate, but the centralized leasing platform allows IO to make a lot of money by relying on data.
io.net aggregates GPU resources from multiple sources, including independent data centers, individual cryptocurrency miners, and excess resources from other crypto projects such as Filecoin and Render. Technical implementation: The platform uses blockchain technology to track and manage these resources, ensuring transparency and fairness in resource allocation. Blockchain technology also helps automate payments and incentives for users who contribute additional computing power to the network.
io.net's dynamic resource allocation and scheduling is one of the core functions of the platform. The key lies in efficiently managing and optimizing the use of computing resources to meet the diverse computing needs of users. This system ensures that computing tasks can be executed on the most appropriate resources in an intelligent and automated manner, while maximizing resource utilization and performance.
2024-2025: During these two years, 6,000,000 io tokens will be released each year. 2026-2027: Starting from 2026, the annual release amount will be halved to 3,000,000 io tokens. 2028-2029: The release amount will continue to halve, and 1,500,000 io tokens will be released each year.
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