Coin Edition -
- Ionet’s partnership with Compute Labs aims to democratize investment in enterprise-grade GPUs like H100s.
- Despite recent price declines, Ionet’s strategic collaboration promises high yields, potentially up to 50%.
- Active trading and support at $3.70 suggest resilience, with significant resistance at $4.00 indicating potential growth.
Ionet ($IO) is poised for potential growth as it partners with Compute Labs to tokenize Real-World Assets (RWAs), specifically enterprise-grade GPUs, democratizing access to high-value computing resources and opening new avenues for investment in the AI financial ecosystem.
Tokenized RWAs are a perfect use case for revenue generating assets like GPUs. Through @Compute_Labs , the supplier base on @ionet will not only become more decentralized, but the ownership of these enterprise grade assets will also become more accessible and decentralized. https://t.co/fpCG9z0WFJ— io.net (@ionet) June 19, 2024
The core of this initiative lies in the collaboration with Compute Labs, which specializes in financializing AI. Compute Labs aims to enable broader investment in enterprise-grade, high-demand GPUs such as H100s.
These GPUs are attractive for their yield profiles but have traditionally been out of reach for retail investors. Compute Labs addresses this gap by facilitating access to annual percentage yields of up to 50% through GPU Vaults, set to launch on Solana.
Compute Labs and @ionet are joining forces to democratize access to the GPU and AI financial(AI-Fi) ecosystem with https://t.co/gC3Z35AGEW as the first of many GPU Restaking partners.With this partnership, Compute Labs aims to financialize AI and enable everyone to invest in… pic.twitter.com/137z4cjctt— Compute Labs (@Compute_Labs) June 19, 2024
Analyzing the current price trend of Ionet, we see a mix of volatility and potential. The price of $3.81 reflects a 3.20% decline in the last 24 hours. The 24-hour trading volume stands at $302,768,334, marking a 25.04% decrease, indicating a significant drop in trading activity. The market cap of $362,022,696 shows a corresponding 3.20% decline.
Despite these fluctuations, certain support and resistance levels are emerging. The price has ranged from approximately $3.70 to $4.00 over the past day. Notably, $3.70 has acted as a support level during recent intraday trading, with the price bouncing back multiple times near this mark. Additionally, $3.60 has been identified as another potential support level, below which the price has not fallen in the observed chart.
Conversely, $4.00 serves as a significant resistance point. The price has approached or slightly exceeded this level several times but has failed to sustain it. Another notable resistance level is $3.93, where the price has retraced multiple times after testing this point.
The market dynamics reveal active trading with a volume-to-market cap ratio of 83.74%, although the trend is declining. The circulating supply is 95,000,000 IO, with a total and maximum supply of 800,000,000 IO, suggesting that a substantial portion of the total supply remains available for trading.
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