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io.net Price Prediction 2024: IO Price Analysis

Last Updated June 17, 2024 7:23 AM
Giuseppe Ciccomascolo
Last Updated June 17, 2024 7:23 AM

Key Takeaways

  • io.net’s IO token has debuted on the public market on June 11, 2024.
  • IO suffered an initial drop but the price is now higher than its launch.
  • Can IO continue to rise?
  • Our io.net price prediction says it could reach as high as $15.10 next year.

io.net is the world’s largest decentralized artificial intelligence (AI) computing network, providing machine learning engineers with scalable, distributed clusters at a fraction of the cost of traditional centralized services.

The company recently launched a token, IO, on the public market. After an initial setback, IO increased and it’s now trading above its launch price.

On June 17, 2024, IO was worth $4.75.

io.net did not respond to a request for comment.

But what is io.net (IO)? How does io.net work?  Let‘s see what we can find out and also take a look at some of the io.net price predictions that were being made as of June 17, 2024.

io.net Price Prediction

Let’s examine some of the io.net price predictions being made by CCN.com on June 17, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.

Minimum IO Price Prediction Average IO Price Prediction Maximum IO Price Prediction
2024 $6 $7.43 $12.36
2025 $6.29 $8.02 $15.10
2030 $26.47 $6.43 $32.98

io.net Price Prediction for 2024

If the positive momentum continues and io.net breaks above its moving averages, it could reach targets between $6 and $12.36 by the end of 2024, with the average price set at $7.43.

io.net Price Prediction for 2025

Technical analysis suggests a potential increase for IO in 2025. The minimum io.net price expected for 2025 is $6.29 while the maximum one is $15.10. In the middle, it may reach $8.02.

io.net Price Prediction for 2030

Based on technical analysis, the IO token may reach a maximum level of $32.98 at the beginning of the next decade, while, in the worst scenario, it may go to $26.47. The average expected price is $28.86.

io.net Price Analysis

IO price anaylsis
IO price analysis. | Credit: Giuseppe Fabio Ciccomascolo/TradingView

A key hurdle for IO is surpassing the current downtrend and the resistance level around $5.50. Breaking above this level with strong trading volume would be a bullish signal. A successful breakout could lead to a slow and steady upward movement, potentially reaching new highs (ATH) in the long term. However, it’s important to manage expectations. The climb might be gradual, not a rapid surge.

While the recent price increase above $4.50 is positive, it’s too early to declare a mega rally. We need to see if IO can sustain this momentum and overcome resistance levels.

The previous rally’s 120% gains are a positive reference point, but past performance doesn’t guarantee future results. Market conditions can change rapidly.

io.net Price Performance Comparisons

Current Price One Year Ago Price Change
io.net $4.75 Not Available Not Available
Ondo $1.13 $0.08986 +600%
Ethena $0.7256 $0.6522 +5.6%
Render $7.99 $1.9730 +299%

IO Price History

io.net price history
io.net in 2024 | Credit: CoinMarketCap

 

Period io.net Price
Last Week (June 17, 2024) $4.75
Launch Price (June 11, 2024) $4.5461
All-Time High (June 12, 2024) $6.3261
All-Time Low (June 11, 2024) $3.3511

Fact Box

Supply and distribution Figures
Maximum supply 800,000,000
Circulating supply on June 17, 2024 95,000,000 (11.9 % of total supply)

From the io.net Whitepaper

io.net’s whitepaper hasn’t been published yet.

What Is io.net?

io.net  is a decentralized GPU computing network built on Solana. It enables developers to access computing power on demand, eliminating the need for investment in and maintenance of computing hardware and infrastructure.

Individuals with idle GPU or CPU compute power can rent out their resources on IO.net in exchange for cryptocurrency payments.

IO Research, the team behind IO.net, initially developed quantitative trading systems for stock and cryptocurrency markets. While developing AI-powered high-frequency trading (HFT) solutions for clients, they encountered the issue of overpriced on-demand GPU cloud providers, leading to the creation of IO.net.

How io.net Works

Payments within the IO ecosystem are done using the IO token. Users can pay for resources in USDC or other supported tokens, but this process generates demand for the IO token, as GPU suppliers are compensated in IO tokens.

Furthermore, IO token holders can stake their tokens, up to the maximum stake per node, to earn IO rewards for helping secure the network.

Is io.net a Good Investment?

It is hard to say. IO has done comparatively well for a token that covers a relatively niche market since it came out just one week ago. That said, it has struggled after its launch, before recovering. A lot will depend on whether the platform can win back customers’ trust. 

It is worth pointing out that the lack of technical documentation, or whitepaper, could, potentially, put some investors off. io.net may have to fix this problem at some point in the near future.

How the market performs as a whole will also be crucial. Nevertheless, you must do your research. 

Will io.net go up or down?

No one can tell right now. The predictions are broadly optimistic. Remember, though, that price predictions are likely to be wrong. Prices can, and do, go down as well as up. 

Should I invest in io.net?

Before you decide whether or not to invest in io.net, you will need to do your research, not only on IO but on other, similar, crypto coins and tokens, such as Uniswap (UNI) or Osmosis (OSMO). More importantly, though, you must make sure that you never invest more money than you can afford to lose. 

io.net Attention Tracker

io.net Google search volume
io.net Google search volume. | Credit: Google

Here is a chart for the io.net Google search volume for the past 90 days. This represents how many times the term “io.net” has been Googled over the previous 90 days.

FAQs

How many io.net are there?

As of June 17, 2024, there are 95.0 million IO in circulation, out of a total supply of 800.0 million.

Will IO reach $10?

According to price predictions based on technical analysis, it may already reach that level in 2024.

What is io.net used for?

It enables developers to access computing power on demand, eliminating the need for investment in and maintenance of computing hardware and infrastructure.

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability, and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto user should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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