IO.NET ($IO) soars 47% in 24 hours after Binance listing

IO.NET, a new decentralized GPU network that provides computing power to its users, launched its Native Token, $IO, which quickly became popular among users. The token has a market cap of $578M and was launched on Mainnet on June 11th. 

Investors gained 47% in only 24 hours. On June 6, IO.NET’s native farming token was added to the Binance launch pool, and cryptocurrency holders could earn rewards by contributing liquidity to decentralized finance (DeFi) protocols. 

According to records, IO.NET’s value peaked on June 12th, 2024, when it reached an all-time high of $6.53. In contrast, its lowest price was touched on June 11th, when the token fell to $3.97. 

Compared to the same period, IO demonstrated considerable increases of 43.57% against Ethereum and 41.09% relative to Bitcoin. It is also important to note that $IO returned a stellar profit of 64% in the 24-hour frame between June 11 and 12. Transaction volume on the prominent Binance exchange amounted to $748.67 million over this cycle. 

While witnessing fluctuations, IO.NET holdings have proved to be a sound investment with an opportunity to make sizable profits. This could also be indebted to IO.NET raising a fresh round of $30 million investment in Series A funding led by Hack VC, featuring Multicoin Capital and Solana Ventures on March 6th of this year. The network consolidates GPU processing power for AI and machine learning use cases and helps users save money. 

IO.NET has unquestionably gained popularity owing to its distributed infrastructure, which permits the seamless dispersal of Python and AI programs with heightened skills, optimized functionality, and improved consumer experience while addressing anxieties related to centralized frameworks, resource administration, and surveillance. 

Decentralized AI, aided by platforms similar to IOG, spreads progressive AI scaling globally without limitations. Through immediate access to the IO Cloud and prefabricated code blueprints, it empowers AI pioneers across the planet, not just large tech engineers. 

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Will IO.NET lead the charge for other Web3 products towards mainstream adoption? Only time will tell.

Harsh Chauhan

Harsh Chauhan is an experienced crypto journalist and editor at CryptoNewsZ. He was formerly an editor at various industries and has written extensively about Crypto, Blockchain, Web3, NFT and AI. Harsh holds a Bachelor of Business Administration degree with a focus on Marketing and a certification from the Blockchain Foundation Program. Through his writings, he hold the pulse of rapidly evolving crypto landscape, delivering timely updates and thought-provoking analysis. His commitment to providing value to readers is evident in every piece of content produced.

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