SONM is a platform that provides cloud services depending on the hardware deployed at the customer level, such as mining equipment and PCs. Users can use someone else’s computing power or they can rent their own hardware.
To answer “Is SNM coin a good investment?”, we must consider various factors, such as its competitors, its unique characteristics and its price movements. Let’s discuss it, one by one:
Is SNM coin a good investment? Competitor analysis
Two major competitors of SONM are Flux and Render Token. Let’s do an in-depth analysis of SONM with its competitors.
Render Network aims to revolutionize the digital creation process. Render Token (RNDR) is the native token of Render Network and is built on the Ethereum blockchain.
It aims to connect artists who need a graphics processing unit with people who have enough GPU capacity to rent them. RNDR is the token used by those artists in exchange for the GPU by GPU providers. Use the combined system of automatic and manual proof of work to check if all art is rendered before payment and release of such art.
Flux is the fully decentralized cloud infrastructure platform aimed at building the largest decentralized computational network. Flux already had 13,500 nodes and 98,000 CPU cores and offers 272 terabytes of RAM and 6 petabytes of storage.
has developed Useful Work Proofs (PoUW) which is one of Flux’s crucial projects with the aim of transforming “Proof of Work Blockchains”.
Is SNM coin a good investment? Price analysis of SONM’s competitors:
The current market price of Render Token (RNDR) is $0.45 and has increased by more than 12% over the past 24 hours. Its price a month ago was $0.50, which means that the price has decreased by almost 11% in a month.
On the other hand, the current market price of Flux is $0.45 and has increased by almost 8% over the last 24 hours. As we can see from the chart in advance, a month ago, FLUX was priced at $0.69. It means that FLUX decreased by 53% in one month compared to a 73% increase in the price of SONM in a month.
Is SNM coin a good investment? How do they differ from SONM?
|Important audience||Customers who need computing power and suppliers who have spare IT resources||artists who need a graphics processing unit and people who have extra GPU capacity to rent.||Individuals looking for a cloud infrastructure platform.|
|Blockchain on which it operates||Ethereum||Ethereum||flow|
|Categories||GPU, computational power, video rendering, web hosting and Machine Learning.||gpu||Cloud infrastructure|
|Trend over the last 7 days||+81%||-8.8%||-2.2%|
|Performance is the last 1 year||+52%||-94%||-77%|
Reports suggest that the cloud computing industry is expected to grow at a CAGR of 15.7% by 2030. The data says that the demand for computational power can increase by 41% by the end of 2025. So, all cloud computing services can see growth in the coming years.
We can see that SNM has definitely performed better than its competitors for a year. SNM’s market price has been rising for a year and can continue to rise with the growing demand for cloud services.
Another interesting fact regarding SONM is that it provides a huge pool of GPU machines that can be used to perform GPU training. In other words, SONM consists of hardware optimized to scale and speed up machine learning workloads for training.
Users can speed up their machine learning applications with the help of SONM’s GPU. This additional quality gives SONM a competitive advantage over its competitors.
Its global and cost-efficient distribution makes SONM a good alternative for cloud solutions. SONM allows people to use huge amounts of computer services depending on their needs.
Is SNM a good investment? What are the distinguishing features of SONM?
- SONM is a great alternative to cloud solutions because it is more affordable.
- The platform has real-world applications, including scientific calculations and CGI rendering.
- SONM combines the global mining market with the computing market with the use of cloud providers.
- The platform can facilitate a wide variety of tasks including mining, video rendering and site hosting, etc.
- It helps users select the correct amount of computing power according to their needs.
The demand for cloud services will increase and, therefore, the usefulness of SONM could increase further. Data suggests that IT companies will increase by almost 40% in the next three years. It is estimated that 2/3Rd spending on application software will be through cloud computing alone, by the end of 2025.
Therefore, analyzing the movements of prices and competitors, we can safely say that SONM is a good investment if you are planning for the medium term.