- Aethir has launched its decentralized cloud computing network on the Ethereum mainnet.
- The value of its ATH token may plunge in the short term.
Aethir, a decentralized physical infrastructure network (DePIN) provider, launched its decentralized cloud computing network on the Ethereum [ETH] mainnet on 12th June.
The protocol allows users to rent high-performance computing resources needed for training artificial intelligence (AI) and rendering digital content.
This service is crucial for organizations that require significant computational power as it offers flexibility and scalability for their operations.
Aethir’s mainnet launch comes with a native token, ATH.
ATH is required for governance and security within the Aethir ecosystem, staking on the Ethereum network, and payment to compute providers through Arbitrum [ARB].
This mainnet launch comes seven months after its testnet launch on 7th November 2023 on Arbitrum, a layer-2 scaling solution for Ethereum.
In its announcement, Aethir confirmed that its user base exceeded 500,000 on its testnet, and it completed a $146 million node sale.
ATH pursues new lows
Following ATH’s launch, its price skyrocketed by almost 100% before correcting. At press time, ATH exchanged hands at $0.073. According to CoinGecko, its price has declined by 14% in the past 24 hours.
Its daily trading volume totaled $261 million during that period, rising by 38%. The opposite movements of ATH’s price and trading volume indicated the presence of significant bearish sentiment in the token’s market.
When an asset’s price declines while its trading volume surges within the same period, it signals a spike in selling pressure. This means that most token holders are looking to sell their positions, hence the downtrend in the asset’s value.
An assessment of ATH’s key technical indicators on an hourly chart confirmed the steady decline in the demand for the altcoin.
For example, its Relative Strength Index (RSI) and Money Flow Index (MFI) were 44.88 and 34.85 at press time.
These indicators measure an asset’s overbought and oversold conditions by tracking its price momentum and changes. At these values, ATH’s RSI and MFI suggest that market participants prefer to sell their holdings rather than accumulate new tokens.
This trend was confirmed by ATH’s Chaikin Money Flow (CMF), which measures the flow of money into and out of its market. As of this writing, this indicator’s value was -0.23.
A negative CMF value is a sign of market weakness. It signals liquidity exit from the market, a precursor to further price decline.
If ATH’s selling pressure continues to increase, its price might decline toward $0.048.
Source: TradingView
However, if the bulls re-emerge and token accumulation begins to climb, ATH’s value might rally toward $0.078.
- Aethir has launched its decentralized cloud computing network on the Ethereum mainnet.
- The value of its ATH token may plunge in the short term.
Aethir, a decentralized physical infrastructure network (DePIN) provider, launched its decentralized cloud computing network on the Ethereum [ETH] mainnet on 12th June.
The protocol allows users to rent high-performance computing resources needed for training artificial intelligence (AI) and rendering digital content.
This service is crucial for organizations that require significant computational power as it offers flexibility and scalability for their operations.
Aethir’s mainnet launch comes with a native token, ATH.
ATH is required for governance and security within the Aethir ecosystem, staking on the Ethereum network, and payment to compute providers through Arbitrum [ARB].
This mainnet launch comes seven months after its testnet launch on 7th November 2023 on Arbitrum, a layer-2 scaling solution for Ethereum.
In its announcement, Aethir confirmed that its user base exceeded 500,000 on its testnet, and it completed a $146 million node sale.
ATH pursues new lows
Following ATH’s launch, its price skyrocketed by almost 100% before correcting. At press time, ATH exchanged hands at $0.073. According to CoinGecko, its price has declined by 14% in the past 24 hours.
Its daily trading volume totaled $261 million during that period, rising by 38%. The opposite movements of ATH’s price and trading volume indicated the presence of significant bearish sentiment in the token’s market.
When an asset’s price declines while its trading volume surges within the same period, it signals a spike in selling pressure. This means that most token holders are looking to sell their positions, hence the downtrend in the asset’s value.
An assessment of ATH’s key technical indicators on an hourly chart confirmed the steady decline in the demand for the altcoin.
For example, its Relative Strength Index (RSI) and Money Flow Index (MFI) were 44.88 and 34.85 at press time.
These indicators measure an asset’s overbought and oversold conditions by tracking its price momentum and changes. At these values, ATH’s RSI and MFI suggest that market participants prefer to sell their holdings rather than accumulate new tokens.
This trend was confirmed by ATH’s Chaikin Money Flow (CMF), which measures the flow of money into and out of its market. As of this writing, this indicator’s value was -0.23.
A negative CMF value is a sign of market weakness. It signals liquidity exit from the market, a precursor to further price decline.
If ATH’s selling pressure continues to increase, its price might decline toward $0.048.
Source: TradingView
However, if the bulls re-emerge and token accumulation begins to climb, ATH’s value might rally toward $0.078.
can i buy clomid without prescription zei: how can i get clomid price buying clomiphene clomid cost australia can i purchase cheap clomid without insurance how much does clomid cost without insurance how to get cheap clomid without dr prescription
More articles like this would pretence of the blogosphere richer.
Thanks recompense sharing. It’s first quality.
buy cheap generic azithromycin – buy floxin without a prescription metronidazole online
buy rybelsus 14 mg generic – order cyproheptadine generic generic cyproheptadine 4mg
cost domperidone – purchase sumycin generic purchase cyclobenzaprine online
buy propranolol online cheap – inderal drug cost methotrexate
purchase amoxil pill – buy ipratropium 100 mcg for sale combivent 100mcg sale
azithromycin 250mg oral – order zithromax for sale buy generic nebivolol 20mg
buy augmentin 625mg generic – https://atbioinfo.com/ buy ampicillin online cheap
buy nexium generic – https://anexamate.com/ nexium 40mg uk
order coumadin 2mg without prescription – blood thinner buy generic cozaar for sale
mobic 15mg brand – relieve pain order meloxicam 15mg generic
generic deltasone 20mg – https://apreplson.com/ order prednisone 20mg for sale
buy ed medications online – otc ed pills that work ed pills where to buy
buy amoxil paypal – brand amoxicillin buy amoxicillin pills for sale
buy forcan – click diflucan brand
buy escitalopram 10mg sale – escita pro escitalopram 20mg uk
purchase cenforce online – click buy cenforce generic
reddit cialis – https://ciltadgn.com/# cialis mexico
buy voucher for cialis daily online – https://strongtadafl.com/# cialis dapoxetine
zantac 300mg uk – https://aranitidine.com/# order zantac 150mg without prescription
sildenafil 50 – https://strongvpls.com/# buy levitra cialis viagra
More articles like this would make the blogosphere richer. buy tamoxifen pills
This is the stripe of topic I enjoy reading. https://buyfastonl.com/azithromycin.html
More articles like this would make the blogosphere richer. https://ursxdol.com/propecia-tablets-online/
This is the gentle of literature I positively appreciate. https://prohnrg.com/
More posts like this would add up to the online time more useful. cialis professional pharmacie en ligne
I am in fact happy to coup d’oeil at this blog posts which consists of tons of worthwhile facts, thanks representing providing such data. https://ondactone.com/spironolactone/
I am in fact happy to glitter at this blog posts which consists of tons of of use facts, thanks object of providing such data.
https://proisotrepl.com/product/cyclobenzaprine/
Thanks an eye to sharing. It’s first quality. http://www.predictive-datascience.com/forum/member.php?action=profile&uid=44792
dapagliflozin 10mg brand – dapagliflozin 10 mg sale order forxiga sale