IO.net (IO) has skyrocketed to a record high of $6.45, marking a 70% increase in just one day. The daily trading volume of IO has also surged by 61%, reaching a staggering $1.81 billion within 24 hours.
Today, the price of IO.net (IO) surged by 70%, hitting an all-time high of $6.45. Initially, the Solana (SOL) and Binance’s 55th project IO experienced a 20% drop after its launch on Binance. However, IO.net has since staged an impressive rally, pushing its market cap to over $558 million.
IO.net, a Solana-based decentralized physical infrastructure network (DePIN) project, aims to offer AI compute-as-a-currency powered by the IO token. The ecosystem provides extensive computing resources for users.
The recent surge in price can be attributed to high transaction volumes and positive investor sentiment. IO.net’s daily trading volume saw a significant increase of 61%, reaching $1.81 billion in the last 24 hours.
The momentum for IO.net has been further boosted by its listing on major crypto exchanges like KuCoin and Binance. The project positions itself as the largest decentralized computing network globally, offering affordable and scalable clusters for machine learning engineers.
Since its launch on June 11, IO has been in high demand, driven by market excitement and a total supply of 800 million IO tokens. Solana users are actively participating in the IO ecosystem, with one trader spending 3,120 SOL to acquire 85,326 IO tokens, according to Lookonchain data.