Ethereum

Token

Flow

Aethir

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Aethir has launched its decentralized cloud computing network on the Ethereum mainnet.</li>
 <li>The value of Aethir’s token, ATH, may decrease in the short term.</li>
</ul>
<p>Aethir, a provider of Decentralized Physical Infrastructure Networks (DePIN), has initiated its decentralized cloud computing network on the <a href="https://coineagle.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> mainnet on June 12th.</p>
<h2 id="decentralized-cloud-computing-and-ath-token">Decentralized Cloud Computing and ATH Token</h2>
<p>The protocol permits users to lease high-performance computing resources, which are essential for training artificial intelligence (AI) and rendering digital content. This service offers flexibility and scalability to organizations that need substantial computational power.</p>
<p>The launch of Aethir’s mainnet includes a native token, ATH. This token is integral for governance and security within the Aethir ecosystem, staking on the Ethereum network, and payments to compute providers via Arbitrum [ARB].</p>
<p>The launch of the mainnet follows Aethir’s testnet launch on Arbitrum, a layer-2 scaling solution for Ethereum, seven months prior on November 7th, 2023. Aethir announced that its testnet user base exceeded 500,000 and completed a $146 million node sale.</p>
<h2 id="ath-s-market-performance">ATH’s Market Performance</h2>
<p>The price of ATH soared nearly 100% after its launch before correcting. As of the time of reporting, ATH was trading at $0.073, and according to CoinGecko, its price has dropped by 14% in the past 24 hours.</p>
<p>The daily trading volume of ATH during this period was $261 million, an increase of 38%. The counter movements of ATH’s price and trading volume suggest a significant bearish sentiment in the market.</p>
<p>When an asset’s price drops while its trading volume surges within the same period, it indicates a spike in selling pressure. This suggests that most token holders are looking to sell their positions, resulting in a decrease in the asset’s value.</p>
<p>An analysis of ATH’s key technical indicators on an hourly chart confirmed the steady decline in demand for the altcoin. For instance, its Relative Strength Index (RSI) and Money Flow Index (MFI) were 44.88 and 34.85 at the time of reporting.</p>
<p>These indicators track an asset’s price momentum and changes, measuring its overbought and oversold conditions. At these values, ATH’s RSI and MFI suggest that market participants prefer to sell their holdings rather than accumulate new tokens.</p>
<p>This trend was confirmed by ATH’s Chaikin Money Flow (CMF), which measures the flow of money into and out of its market. The CMF value was -0.23 at the time of writing.</p>
<p>A negative CMF value signals market weakness and indicates an exit of liquidity from the market, which could lead to further price decline. If ATH’s selling pressure continues to rise, its price might drop to $0.048. However, if the bulls re-emerge and token accumulation begins to increase, ATH’s value might rally to $0.078.</p>

Soaring Heights: ATH Token Skyrockets 100% Post-Aethir Ethereum Launch, Full Report Inside

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CoinEagle.com

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