Why coins Prices Drops ? and we face decline in our holdings worth? There are several reasons why cryptocurrency prices can drop:
Market volatility: The crypto market is inherently volatile, meaning prices can fluctuate significantly in a short period. This can be due to a variety of factors, like investor sentiment, news events, or even just a lack of positive news.
Economic conditions: Broader economic factors can also impact crypto prices. For instance, if the U.S. Federal Reserve raises interest rates, investors might move their money away from risky assets like crypto and towards more stable options.
Large sell-offs: If a large number of investors suddenly decide to sell their crypto holdings, it can drive down the price due to increased supply in the market. This can be triggered by events like fear of a hack, negative regulations, or uncertainty about a specific project.
Specific events: News events related to a particular cryptocurrency can also cause price drops. For example, if a major exchange gets hacked and loses a significant amount of crypto, it could cause investors to lose confidence in that specific coin and sell their holdings.
Here are some recent examples:
In June 2024, the price of Bitcoin dropped after a large amount of BTC was transferred from a dormant wallet, raising fears of a potential sell-off.
Earlier in June, the crypto market dipped after stronger-than-expected U.S. jobs data, leading investors to move towards less risky assets.
Io.internet is a decentralized AI computing & cloud platform. By aggregating GPU deliver from underutilized sources, io.internet creates a community that lets in system learning (ML) startups to get entry to almost limitless computing strength at a fragment of the fee of the conventional cloud. IO is the local software token of io.internet, and used withinside the following functions:
Payment Currency: Payments & transactions prices in the io.internet environment, along with purchasing / imparting underutilized GPU computing strength, deploying GPU clusters. Staking: Users can take part in community security & earn percentage of idle GPU rewards, through either: Delegate staking $IO tokens with a node in their choice. Directly staking more $IO tokens to function on their personal node.
Governance: The IO token allows holders to take part withinside the governance of the IO Grants DAO through proposing, vote casting on, and imposing provide proposals that manual the allocation of budget and strategic route of the Internet of GPUs Foundation.
As at June sixth 2024, the constant most deliver is 800,000,000 tokens & genesis deliver at TGE is 500,000,000 tokens. The circulating deliver upon list might be 95,000,0000 (19.00% of the genesis token deliver).
Currently staking on Binance, It is going to be bigger hit as per my estimation as it is involving ML and many Computer Hardware related projects.