Io.net is one of the largest decentralized artificial intelligence networks in the cryptocurrency space.
It enables machine learning engineers to leverage scalable, distributed clusters at a fraction of the cost of similar centralized services.
The protocol allows tens of thousands of GPUs to be interconnected around the world while maintaining low latency for developers. In contrast, centralized clouds can take weeks to deploy, but Io.net network creation can be accessed in seconds.
Will unlocking the token put bearish pressure on IO?
io.net has a huge network of GPUs in over 138 countries. It has over 5,300 GPUs in the US and 9,210 active CPUs in the US. On their website, you can get GPU access on demand for $0.36 per hour with over 52% savings. You can also unlock calculations in seconds with Solana pay.
The total volume of IO is 800,000,000 IO, of which only 11% is circulating in the market. It has a total of 82,043 holders, which has increased slightly over the past few weeks. According to Coincarp, the top 10 IO holders account for over 93% of the total supply, while the top 100 holders account for over 99.7% of the total supply.
IO's launch is not as successful as their whales expected?
IO has a market capitalization of $496 million and is currently ranked 132nd in the cryptoverse. The asset's price volume dropped by more than 52% during the intraday session. A VM ratio of 1.8 indicates bearish price momentum. The I/O price is currently trading around $5.25, down 13% in the last 24 hours.
According to the hourly IO chart, strong bullish candles are forming. On the 4-hour chart it is trading above the 50 EMA. The upward trend in the price of the IO token may stop around $6.5. Meanwhile, support for the token price can be seen around $4.8
Conclusion
The IO token has pure centralization in the overall supply. In a few days, the token will be unlocked with $11 million worth, which could create serious bearish pressure. The IO token price is currently consolidating but could reach a new high in the future.
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