What's next for io.net?
Key Takeaways
- Io.net’s IO token debuted on the public market on June 11, 2024.
- IO suffered an initial drop, but the price is now higher than when it launched.
- Can IO continue to rise?
- Our io.net price prediction says it could reach as high as $4.19 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 Aug. 16, 2024, IO was worth $1.59 — a drop of more than 50% in under two months.
Io.net did not respond to a request for comment.
Let’s now take a look at our IO price prediction. We’ll also examine io.net’s price history and explain what io.net is and what it does.
io.net Price Prediction
| Minimum IO Price Prediction | Average IO Price Prediction | Maximum IO Price Prediction | |
|---|---|---|---|
| 2024 | $1.45 | $3.31 | $3.54 |
| 2025 | $3.48 | $4.13 | $4.19 |
| 2030 | $10.93 | $11.79 | $11.97 |
io.net Price Prediction for 2024
If the positive momentum continues and io.net breaks above its moving averages, it could reach targets between $1.45 and $3.54 by the end of 2024, with the average price set at $3.31.
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 $3.48, while the maximum is $4.19. In the middle, it may reach $4.13.
io.net Price Prediction for 2030
Based on technical analysis, the IO token may reach a maximum level of $11.97 at the beginning of the next decade, while, in the worst scenario, it may go to $10.93. The average expected price is $11.79.
io.net Price Analysis
The technical indicators for IO.net present a mixed outlook. The RSI (14) is at 49.19, indicating a neutral stance, while the MACD (12,26,9) shows a value of -0.23, suggesting a bearish trend. The Stochastic (20,3) stands at 45.48, which is also neutral.
Meanwhile, the ROC (20) at -9.31 points to a bearish trend, contrasting with the CCI (20) at 78.04, which signals a bullish outlook. The Williamson %R (14) is at -56.46, indicating a bearish sentiment, whereas the MFI (14) at 78.7 remains neutral.
The ATR (14) reads 0.483, indicating low volatility, and the ADX (14) at 24.83 suggests a weak trend. Overall, the indicators reflect a combination of bearish, neutral, and bullish signals, with low volatility and no strong trend.
Short-Term io.net Price Prediction
io.net price prediction sees the IO price to increase by 6% in the next 24 hours while it is expected to surge by 228% in the next month, reaching $5.15 by September 14, 2024. However, our technical indicators currently reflect a bearish sentiment, and the Fear & Greed Index stands at 29, signaling fear in the market.
Over the past 30 days, io.net has experienced 11 out of 30 green days (37%) with a price volatility of 24%. Given this outlook, it appears to be an unfavorable time to invest in io.net.
io.net Relative Strength Index (RSI): Is IO Oversold or Undersold?
io.net Price Performance Comparisons
How Do We Make a io.net Price Prediction?
Our price prediction for io.net combines technical analysis tools and recognizes the logic in price cycles. We’ve primarily used the Elliott Wave Principle, which describes these price movements in their motive and correction phases.
Applied to the io.net-specific time-frames and its price history, we can come up with the targets, although the further we project, the less accurate they are because they depend on what happens in between.
IO Price History
| Period | io.net Price |
|---|---|
| Last Week (Aug. 9, 2024) | $1.7556 |
| One month ago (July 16, 2024) | $2.6804 |
| Launch Price (June 11, 2024) | $4.4941 |
| All-Time High (June 12, 2024) | $6.1694 |
| All-Time Low (Aug. 5, 2024) | $1.3547 |
io.net Market Cap
The market capitalization, or market cap, is the sum of the total IO in circulation multiplied by its price. On Aug. 16, 2024, io.net’s market cap was $152.5 million, making it the 242nd largest crypto by that metric.
io.net Supply and Distribution
| 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 needto invest in and maintainf computing hardware and infrastructure.
Individuals with idle GPU or CPU computing 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 Does Io.net Work?
Payments within the IO ecosystem are made 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 covering a relatively niche market since it came out just one week ago. That said, it 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 soon.
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 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.
FAQs
Will IO reach $10?
According to price predictions based on technical analysis, it may reach that level in 2030.
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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