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News Report

IOST Traders Excitement Over News of AWS Partnership Short-Lived as Price Gains Wiped Out

1 min
Updated by Geraint Price

In Brief

  • IOST price surged by 10% on the announcement of AWS integration.
  • But the bears wipes out the gains in no time.
  • The poor price action disappointed the community.
  • promo

It was announced as a “game-changing” partnership with Amazon Web Services (AWS), but the news failed to impress buyers of the IOST token.

The smart contract platform announced a strategic partnership with AWS designed to bring a “seamless Web3 experience.” After the announcement, the price rallied by nearly 10%. But then the bears took the reins from the bulls and brought prices back to pre-announcement levels.

IOST price action post AWS partnership
IOST/USDT, Binance. Source: TradingView

IOST Wants to Strengthen its Ecosystem With AWS Integration

The company wants to utilize the infrastructure of AWS to enhance its services in decentralized finance (DeFi), non-fungible tokens (NFTs), GameFi, and the metaverse.

The Medium announcement from its senior community manager reads, “Leveraging AWS’s global reach, robust network computing power, AI/ML tools, and decentralized IT architecture, IOST will onboard more developer teams worldwide to create a secure and distributed digital economic system.” 

While some community members are bullish on the future of the IOST price, others are disappointed with the current price action.

When Ava Labs announced teaming up with AWS on Jan. 11, Avalanche token (AVAX) recorded a 30% price increase.

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