Cryptocurrency exchange Coinbase announced the listing of the altcoin io.net (IO) on the futures market, leading to a price increase.
IO Listing on Coinbase
IO, previously launched via Binance Launchpool, is now traded on the spot market. However, Coinbase has reportedly added IO to the futures market, an unusual step since the exchange typically lists altcoins on the futures market first and then on the spot market.
What is IO?
IO can be described as an artificial intelligence token. With a market value of $295 million, the IO token is part of an ecosystem touted as having the world's largest decentralized AI computing power.
Market Reaction to Listing
Following the listing on Coinbase, the IO token price unexpectedly rose by more than 5%. Such price moves are driven by increased investor interest in new assets on major exchanges.
Listing a new altcoin on a major exchange always generates investor interest and can significantly impact the token's market trends.
