New York, Thursday, October 17, 2024 – Coinbase, the largest crypto exchange in the U.S., has added io.net (IO), a decentralized physical infrastructure network (DePIN) altcoin built on the Solana blockchain, to its platform.
This listing marks a continued push by Coinbase to support innovative projects in the blockchain space, with io.net aiming to revolutionize GPU services through decentralization.
Io.net’s decentralized infrastructure provides an alternative to traditional GPU providers, leveraging blockchain technology to offer affordable and accessible computing resources. This aligns with Coinbase’s strategy to diversify its altcoin offerings and back decentralized projects in sectors like AI, machine learning, and gaming.
Despite the listing, io.net’s price has not seen the typical increase expected from such an announcement. The token fell by 2% in the last 24 hours, trading at $1.74 according to CoinMarketCap.
The addition of io.net highlights the growing adoption of the Solana blockchain, known for its high-speed transactions and scalability. By listing io.net, Coinbase reinforces Solana’s position as a leader in decentralized infrastructure, potentially increasing network activity and attracting more developers to the platform.
Solana’s ecosystem continues to expand with new decentralized applications (dApps) and infrastructure projects like io.net, further boosting the blockchain’s visibility and appeal among developers and investors alike.
Analysts say that Coinbase’s ongoing support of Solana-based projects may solidify the blockchain’s role in the DePIN space, enhancing its transaction volumes and overall adoption.
