The altcoin market's getting crowded fast, with many projects missing the mark.
But the DePIN industry is a standout, poised to capture significant market share this year.
My top pick? @io.net
When the market is quiet, my strategy is to pick positions I trust and stay updated on the latest project news.
A recent @io.net update prompted me to come out of hibernation and hit the buy button.
Today, I will discuss their latest update and its impact on the price of $IO .
Before diving into the details, let's remember a fundamental principle: fewer coins in circulation make it easier to increase the price.
In a recent update, GPU providers, who play a crucial role in the @io.net ecosystem, are now required to stake $IO tokens.
The amount of $IO GPU providers need to stake depends on two key factors:
➜ Number of GPUs Owned: More GPUs require a higher staking amount
➜ Earning Potential of GPUs: More powerful or efficient GPUs necessitate staking more $IO tokens
Imagine if every single GPU provider is required to stake $IO tokens.
With only 95 million $IO tokens currently in circulation, consider the impact on the price of $IO when all these providers need to buy them for staking.
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