Key facts:
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The price of Aethir (ATH) has been showing a downward trend since its launch.
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“In this bull cycle, fundamentals are not everything,” explains Mark Gough.
The growing interest in technologies based on artificial intelligence (AI) has generated a high demand for graphics processing units (GPUs) so that these models can perform different functions in a matter of seconds.
One of the solutions to this need is Render Network, a decentralized model provider, which stands out for accelerating the process of graphic applications linked to AI. Generally, it is used by digital artists, designers and developers to do rendering tasks. In this environment, users who lend their GPU power are rewarded with the native token, RNDR (which “lives” on the Solana network).
However, the growth of AI and the demand for GPU power have highlighted the need for new solutions for businesses to continue their operations.
In this context, Daniel Wang and Mark Rydon launched Aethir, a cloud platform that seeks to compete against Render Network. It is an ecosystem where Every company or individual can access the GPU capacity they need for their AI tasks. Like Render, it is a network powered by users who share the computing power of their graphical processing units.
For Mark Gough, technical analyst of stock markets and cryptocurrencies, “Aethir can challenge Render in terms of processing capacity.” He stands out:
“Not everyone has access to the powerful GPUs they need. From casual users to large enterprises, the demand for GPU power is there. And it’s an expensive process, consuming a lot of time, energy and computing resources, as the color, position and amplitude of each pixel must be calculated independently. But with Aethir, that process becomes much more accessible thanks to decentralization.”
Mark Gough, technical analyst of stock markets and cryptocurrencies.
Despite the specialist’s enthusiasm, The concrete thing is that its operation is similar to that of RenderUsers can register their computing resources on the network, check and confirm their specifications. In return, they receive the Aethir (ATH) token, which acts as an incentive and means of payment within the ecosystem.
In the image below, you can see that Aethir is a sort of intermediary that connects those who offer GPUs and those who demand them for AI training, running real-time applications and video games.
Aethir is an ecosystem that provides solutions for those who need GPUs. Source: X Account AethirCloud.
Like Render, the platform creates a pool of GPUs, which is available to companies that need to perform tasks that require great computational power, such as: AI-based language training, image and video creation, and scientific simulations.
Gough draws on the success of Render Network since its launch to say that “there is a similar opportunity” in Aethir.
The RNDR token price has shown an upward trend since its launch, as shown below:
RNDR price since its launch until August 30. Source: CoinGecko.
For his part, and beyond Gough’s enthusiasm for Aethir, The price of the ATH token has been on a downward trend since its launchIts current price is $0.05 and is more than 50% below its initial value, as seen in the following graph:
ATH token price since its launch until August 30, 2024. Source CoinGecko.
Gough, meanwhile, emphasizes the large community that is forming around this platform and states: “As we have learned, the fundamentals in this bullish cycle are not everything. Advertising and community play an important role in the success of a Cryptocurrency project.” The great relevance that the memecoins (cryptocurrencies without any basis to explain their growth) are evidence that what Gough says is true.
According to the place official, ATH has a supply of 42 billion tokensOf which 50% of the total is destined for verifiers and computing providers, 12.5% was destined for the team that developed the platform, 11.5 for the investors who financed the project, 6% in airdrop to generate enthusiasm and adoption, 15% for the development of the future of the ecosystem and, finally, 5% for advisors.
At the time of publication of this note, the circulating supply is 4 billion, which indicates that it is increasing and makes it an inflationary asset.
Bullish market projection
For their part, cryptocurrency investors recognized in X as @GL_Capital_ maintain a bullish outlook for AI-related assets, especially those offered by platforms that provide cloud solutions such as Aethir.
As they explain, what distinguishes the ATH token from other assets in this market niche is “the ability to quickly generate income,” something they consider crucial to assess the attractiveness of a project.
The income estimate is $36 million annually, so in his opinion, Aethir has growth potential.
Aethir has a market cap of $227 million. Source: X’s account @GL_Capital_.
Along those lines, it is worth noting that large companies such as Amazon, Microsoft and Google have taken note that the AI race will be long-term and have begun to stock up on Nvidia H100 chips, one of the latest generations of high-end graphics processing units, manufactured by the renowned technology company.
That’s where the rest of the companies They will have to resort to cloud solutions such as those offered by Aethir and Render Network.
At the moment, Aethir features over 2,000 Nvidia H100 GPUsAccording to Gough, this allows it to outperform its competitors such as Render Network Akash Network, by an order of 20 and 45 times, respectively.
According to their data, this niche market has already surpassed $184 billion so far in 2024. “This extraordinary growth is expected to continue and the market is projected to exceed $826 billion by 2030,” the investors explain.
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