Important notice 📢💥
Although BTC📉55000 has temporarily stabilized, the risk is still there
Nearly 200,000 bitcoins from the German government and Mt.Gox?
The selling pressure comes from two aspects: 1. Bitcoin seized by the German government 2. Bitcoin paid by Mt.Gox to creditors
The German government may be the biggest force in the short-term market crash. The German government has seized a total of 50,300 bitcoins. From June 19 to July 5, a total of about 80,800 bitcoins were transferred. The current remaining holdings are 42,270 BTC, and 83.94% of the holdings have not yet been sold. Whether this part will continue to be sold in large quantities in the short term is still in doubt, and there is still a lot of uncertainty about the selling pressure. For Mt.Gox, the selling pressure may be far lower than market expectations. It is expected to compensate creditors with 142,000 bitcoins, and more than 70% of the claims may have been transferred through several rounds of OTC and acquired by institutional buyers. The acquired bitcoins are not expected to bring a large amount of selling pressure. The remaining 30% of bitcoins that will bring large-scale selling pressure are about 40,000 to 50,000 bitcoins. According to on-chain data monitoring, Mt. Gox has transferred about 50,000 bitcoins today, July 5, of which 1,544 were transferred to the exchange, and 47,228.7 bitcoins were transferred to the new address starting with 1L7Xbx. There has been no further movement. There are also opportunities after the decline. Among them, io, as a new currency, deserves special attention. At present, there are more than 200,000 GPUs on io.net that have passed the computing power authenticity verification, including more than 20,000 A100, H100, L40S and other professional AI graphics cards. It is the DePIN project with the most computing power in Web 3. Therefore, as the largest GPU computing network in Web3, it is likely to become the leader of the DePIN+AI track in this cycle in the context of global computing power shortage.
In the third quarter of 2024, the IO Foundation will launch $IO Staking, requiring GPU nodes to pledge $IO as a guarantee of GPU stability and quality, thereby further improving the quality of network hardware and enriching the use scenarios of $IO tokens.
At the same time, io.net is also a strong community. In three rounds of airdrops, more than 1 million Solana wallets received IO token rewards, including GPU contributors, community supporters, Galaxy, Discord community members, etc. There are currently a large number of IO ecological projects under construction, including computing power tokenization, AI technology stack based on decentralized computing power network, and DePINFi projects based on $IO staking mechanism.
#IO去中心化算力网络
