Altcoin
Solana-Based AI Altcoin Booms After Gaining Support from Cryptocurrency Exchange Binance
In Solana (SOL) based altcoin project with a focus on artificial intelligence (AI) is taking flight after gaining support from Binance, the world’s largest cryptocurrency exchange.
In a new announcement, Binance He says lists the decentralized AI computing network io.net (I) for trading on its platform.
“Binance is excited to announce that io.net (IO) has been added to Binance Simple Earn, ‘Buy Crypto’ and Binance Convert. Additionally, Binance will add IO on Binance Margin, Binance Futures and Binance Auto-Invest at 2024-06-11 14:00 (UTC), 2024-06-11 14:00 (UTC) and 10:00 on 13 -06-2024:00 (UTC) respectively.”
At the time of writing, IO is trading at $5.66, up nearly 52% in the past 24 hours. The altcoin, with a market capitalization of just over $534 million, hit an all-time high of $5.84 following Binance’s announcement.
The io.net project aims to create a decentralized computing network that allows machine learning engineers to access distributed cloud clusters at a lower cost. The intent is to address the challenges of traditional cloud providers having inadequate capabilities, creating issues such as high costs and longer wait times to access hardware with cloud services.
Says the project team,
“Our vision is for IO to become the currency of computing, fueling an ecosystem of products and services that enable access to computing as a resource and as an asset.”
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