Recently the price of io.net has experienced a massive price boom.
What could have been the reason for that? Let us look more closely at what io.net coin is and what caused its recent price surge.
What Is io.net?
io.net is a web platform that offers high-quality Graphical Processing Units (GPUs) for high-end computing at an affordable price.
The major benefits that their website points out include faster access, higher security benefits, and sustainable computability at a wider scale.
The website offers cost-saving benefits amounting to the operational cost accounting for close to only 10% of those offered by traditional cloud providers such as AWS, Microsoft Azure, Google Cloud, etc.
The company also offers access to a global network covering over 138 countries.
io.net Token
The io.net token works as a utility provider for the io.net platform.
It facilitates the transaction for rental and usage of GPU resources within the io.net ecosystem.
The io.net tokens can be staked to earn hourly rewards and the coin can further be used to participate in the voting process deciding the future direction that io.net will follow.
The coin’s environment seems to have put measures in its functioning like coin burning which helps to keep the volume of the coin to a defined amount
The table below gives an overview of the standings of the token at the time of the surge.
| Name of the token | io.net |
| Token Marker | (IO) |
| Current Price | $5.72 |
| Price Change | +43.76% |
| Market Cap | $546,529,014 |
| Volume(24h) | $1,887,173,883 |
From the data published in the table above, we can understand more about the changes that have happened to the coin in the market in the short time of the surge.
In the following sections, we will look at the causes of the surge and the sustainability of the value in the future.
What Was The Cause Of The Recent Price Surge In The io.net (IO) Token?
The io.net token recently experienced a massive surge in its price, gaining about a 50% increase in value in the last 24 hours.
The token which traded at $4.01 on July 12th is now valued at $5.97.
The price of the coin at the time of writing this article is down from its predicted high, but the prospects of the coin remain the same owing to the occurrence of similar advancements and innovations in the network to be rolled out sooner or later as anticipated by many investors.
We will look at what the market indications and analyzers of its price increase say was the reason for this massive price boom in the following paragraphs.
According to the estimates from popular analysts, the massive increase in the price of the token seems to be the result of the confidence that the market has placed in the growth of the Io.net platform and the strategic measures that have been taken to improve the efficiency of the token’s distribution and trading process.
Another reason cited has been the planned launching of its Airdrop recently to everyone’s surprise.
However, the major reason for the price gain is largely credited to its innovation-driven supply chain mechanism.
The io.net (IO) token is set up to have a maximum supply of only 800 million tokens in circulation at any given time.
It provides hourly rewards to the suppliers and the ones staking the coin.
On top of that, the coin also has a burn mechanism that uses the revenues generated from the io.net website to burn the additional io.net(IO) tokens to balance it based on the token’s price at the market.
These were some of the reasons that seem to have led to the massive spike in the price of the token.
The same reasons and their chances of repetition in the future are the analytical risks that the investor must consider in order to track down any further price fluctuations.
In the next section, we will look at the Market predictions and analysis of the token in the coming years.
io.net (IO) Token Price Prediction
The price predictions of the coin till the year 2030 as estimated by popular crypto analyzers as given below:
| Years | Price |
| 2024 | $ 5.848159 |
| 2025 | $ 6.140567 |
| 2026 | $ 6.447595 |
| 2027 | $ 6.769975 |
| 2030 | $ 7.837092 |
By looking at the data given below the coin seems to show a lot of potential for growth even by conservative estimates.
The occurrence of a price surge as experienced by the token right now is not guaranteeable in the future but the estimates put the token to go in an upward trajectory in the longer run.
Final Thoughts
For many of the investors who seem to have noticed the rapid price increase of the io.net (IO) coin the one thing that they seem to doubt is whether it will continue its bull run without taking a hit in its current price.
The coin as of its performance now seems to be stabilizing in a manner that provides hope to all those who are planning to invest in the token.
However, any type of investment in the coin will have to be done with a personal analysis and conviction in the token’s long-term potential to make gains instead of its short-term market gains and losses.
