Bithumb, a leading cryptocurrency exchange, has revealed that it will be listing the altcoin IO for trading against the Korean won (KRW). This new addition allows users to begin trading IO from August 7, 2024. Bithumb’s decision to include IO is a significant move in its ongoing efforts to offer diverse trading options for its users.
What is IO and What Does It Offer?
IO is a decentralized computing network platform designed to provide an efficient and low-cost distributed physical infrastructure network (DEPIN) by leveraging unused GPU resources. This platform is particularly beneficial for machine learning and artificial intelligence projects, offering cost-effective access to distributed cloud clusters. Bithumb has set specific dates and times for the listing: trading will commence on August 7, 2024, at 23:00 Turkey time, and deposits can be made starting from 21:00 Turkey time on the same day.
Why is Bithumb Listing IO Now?
The introduction of IO to Bithumb enables users to access more cost-effective computing resources through distributed networks. IO tokens serve multiple purposes within the network: they act as rewards for service providers and are used to pay transaction fees. This listing aims to meet the growing demand for efficient, decentralized computing solutions in the rapidly advancing fields of machine learning and artificial intelligence.
Key Benefits of Trading IO on Bithumb
The addition of IO to Bithumb’s platform offers several advantages to users:
- Cost-efficient access to computing power for AI and machine learning projects.
- Opportunity to earn rewards through IO tokens.
- Secure trading environment with initial trading restrictions to prevent market manipulation.
These points highlight the practical benefits of trading IO on Bithumb, particularly for those involved in high-computation fields.
Bithumb has emphasized its commitment to providing a secure trading environment during the introduction of new assets. For the first five minutes after IO trading begins, purchase transactions will be restricted. Additionally, Bithumb will impose restrictions if the sale price deviates 10% below or 100% above the base price, ensuring market stability.