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🚀 Exploring the Future of io.net and $IO! 🚀 With the completion of the IO Coin Initial Offering (TGE) on the Binance Launchpool on June 11, io.net is poised for remarkable growth. The decentralized GPU cloud platform, aggregating GPUs from independent data centers, crypto miners, and gamers, is tackling the global GPU shortage head-on. This network's extensive capabilities will drive advancements in AI training, graphic rendering, and gaming applications, opening up unprecedented opportunities. Future Potential and Opportunities: io.net’s vast network, with over 200,000 verified GPUs, including 20,000 enterprise-grade AI cards, makes it the largest in the crypto world. This powerhouse supports AI companies, graphic rendering applications, games, and more, using state-of-the-art clustering technology for AI training and inference. The launch of IO restaking aims to improve network quality and empower token holders. The platform’s strong community is evident from the Ignition Rewards program, which has already rewarded over 1 million wallet addresses with IO tokens. Thoughts on the DePIN Track: The decentralized infrastructure (DePIN) track is revolutionizing the way we manage physical infrastructure networks. By integrating cutting-edge technology and decentralized principles, io.net is creating a robust and resilient ecosystem that promises to redefine the landscape of decentralized computing. The ecosystem is expanding with innovative projects in compute tokenization, DePIN full stack, and DePIN-Fi. Join the conversation and share your insights! Let's delve into the future of decentralized infrastructure together. 🌐 $IO #ionet #IOInternetofGPUs
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Bitcoin falls below $54,000 due to profit-taking by long-term holders. Bitcoin recently experienced a significant drop below the $54,000 level, indicating a notable downturn from its recent highs. One key factor contributing to this decline is profit-taking by long-term bitcoin holders (LTHs). These investors, who hold bitcoins for more than 155 days, typically exhibit strong hands and are less prone to selling during market fluctuations. However, recent on-chain data suggests that many of these long-term holders chose to capitalize on their gains amid current market conditions. The "Spent Output Profit Ratio" (SOPR), a metric that indicates whether bitcoins are being sold at a profit or a loss, showed spikes among LTHs. When the SOPR exceeds 1, it indicates that bitcoins are being sold at a profit. Recent spikes in SOPR among LTHs, particularly in the 5 to 7-year age range of bitcoins being spent (SOAB), suggest that these holders decided to realize profits by selling off coins that had appreciated significantly in value. This behavior by long-term holders, who are traditionally seen as stable and committed to holding through market fluctuations, can have a pronounced impact on Bitcoin's price dynamics. The recent sell-offs by LTHs likely added selling pressure to the market, contributing to Bitcoin's drop below $54,000. However, it's important to note that market movements are multifaceted and influenced by various factors beyond individual transactions. These factors include broader market sentiment, regulatory developments, macroeconomic trends, and institutional investor actions, all of which contribute to the volatility and price discovery in the cryptocurrency markets. In summary, while profit-taking by long-term holders played a significant role in Bitcoin's recent price decline below $54,000, the cryptocurrency market remains subject to a complex interplay of factors that collectively shape its trajectory. $BTC $ETH $CREAM Disclaimer: Research Yourself before investing, use only risk-worthy funds and take full responsibility for your decisions.
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Crypto Whale Makes Waves: Anonymous Investor Boosts Portfolio by $120 Million with Major Shiba Inu Purchase Cryptokit has significantly expanded its portfolio by investing $9 million in Shiba Inu (SHIB) tokens. This move has sparked interest within the crypto community, as an anonymous investor on the Ethereum network has added over $120 million worth of various crypto assets to their holdings. This includes the addition of Shiba Inu tokens, which has led to an astonishing 79,831,841% increase in their portfolio's value within the last 24 hours. In a remarkably short span, the investor acquired tokens valued at $77.87 million. Such a rapid and substantial purchase of altcoins is a rarity, especially within the past year. According to Etherscan, the majority of these cryptocurrencies were withdrawn from the Binance exchange. The transfer comprised six different coins: Shiba Inu (SHIB), Render (RNDR), Fantom (FTM), Chainlink (LINK), Graph Token (GRT), and PEPE. DeBank's DeFi Dashboard reveals that these acquisitions have boosted the investor's total crypto portfolio to $120,548,301. Specifically, the recent purchase of 583 billion Shiba Inu tokens, worth $9,678,039, has elevated SHIB to the fourth-largest holding in their portfolio. The largest holdings are USDT Tether at $40.65 million, Ethereum at $31.1 million, and the PEPE meme coin at $9.82 million. Additionally, the investor possesses other notable assets including Dogecoin (valued at $6.95 million) and Floki (worth $1.5 billion). Their smallest holdings include Worldcoin (WLD) and GALA. Beyond GRT, the portfolio features other altcoins, each with monetary values in the millions. Interestingly, this affluent investor's wallet was created merely six days ago, initially holding PEPE, FTM, and MATIC. The rapid accumulation and diversification of assets in such a short period have drawn considerable attention in the cryptocurrency space. $SHIB $PEPE $FTM #thaksbuddy
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