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Binance Launches 55th Project: IONET (IO)

Binance Launches 55th Project: IONET (IO)

With the exciting announcement of IO.NET (IO), a decentralized cloud computing and artificial intelligence platform, Binance unveiled its 55th project on Binance Launchpool. With decentralized solutions that improve accessibility and efficiency, this cutting-edge platform is poised to make major advancements in artificial intelligence and cloud computing.

The IO token will be listed on Binance as the initial platform, and trading will start on June 11 at noon (UTC). This launch signifies an important turning point for IO.NET and demonstrates Binance’s ongoing dedication to advancing groundbreaking initiatives in the cryptocurrency field.

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Binance on Farming and Mining IO Tokens

Beginning on June 7 at 00:00 (UTC), Binance users will have the chance to stake their BNB and FDUSD into several pools over the course of four days to farm IO tokens. This farming phase will encourage user participation in the IO.NET ecosystem by giving users early access to IO tokens.

The website is anticipated to be updated with comprehensive guidelines and deadlines for starting mining operations within five hours of this statement. IO.NET (IO) has an initial supply cap of 500,000,000 tokens and a maximum supply of 800,000,000 tokens. Ninety-five million of these IO tokens, or 19% of the entire initial supply, will be available for use at first. Twenty million IO tokens are available for mining, 4% of the initial total supply.

The BNB mining pool has personal hourly mining limits of 17,708.33 IO, and the FDUSD has personal hourly mining limits of 3,125 IO. Additionally, the distribution of tokens across the pools is stated, with the FDUSD pool having the ability to mine 3,000,000 IOs (15%) and the BNB pool having the capacity to mine 17,000,000 IOs (85%).

Performance of the BNB Market and Network Activity

Amid the IO.NET launch hype, Binance Coin (BNB) has seen a notable increase in value, breaking through $700 to reach an all-time high. This milestone is a result of increased network utilization and on-chain activity. According to data from BscScan, BEP-20 token transfers increased significantly, from 6.62 million on May 19 to 10.29 million on June 3. This is a strong 56% daily surge in transfers.

This increase demonstrates the BNB network’s expanding usefulness and uptake. The price of BNB is $697.88, and its 24-hour trading volume amounts to $1.2 billion. BNB has had a significant 17.14% price gain over the last seven days, although a minor decrease of 0.82% in the previous 24 hours.

With 150 million BNB in circulation, the cryptocurrency has a $107.3 billion market capitalization. This result demonstrates Binance’s dominant position in the market and the growing trust investors and users have in the BNB ecosystem.

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