Why io.net ahead of Coinbase listing: 300k GPUs, $15k daily GMV
Thread397 words
Bullish call$IO−92%since this piece, moved against the callHow it played out ↓Bull case for IO ahead of its Coinbase listing: a GPU cloud market projected above $120B by 2032, over 300k verified GPUs and early traction. IO sits below $1.5B FDV and has beaten BTC, ETH and SOL over 7 and 30 days.
Key claims
GPU cloud market over $120B by 2032
$15k daily GMV in September, about 1.3M compute hours
FDV under $1.5B, $220M circulating
$IO is hitting @Coinbase and you are still fading anon?
The high-performance cloud compute market for GPUs is booming, and projected to grow to over $120 billion by 2032.
Fueled by skyrocketing GPU demand from an AI industry in hyper-growth, the market @ionet is targeting is huge.
@ionet is the only solution in the market that supports geo-distributed GPU clusters and is by far the largest decentralized GPU network, with over 300k verified GPUs as of today.
While there is still some FUD being thrown around, @ionet has been on a clear upward trajectory ever since its launch, closing many major partnerships and finding significant adoption very quickly.
Its clear PMF is evidenced by the numbers, as @ionet hit $15k in daily GMV in September, and is approaching 1.3m hours in total compute hours served already.
So let's talk $IO token.
$IO is the native token of @ionet, powering its decentralized GPU aggregator ecosystem.
GPU renters, such as AI engineers, use $IO to purchase compute power for tasks like training models or cloud gaming, while GPU owners monetize idle GPU resources through $IO earnings.
$IO also secures the network through staking, where holders can earn rewards for locking tokens and ensuring the network's integrity & resiliance.
Additionally, $IO facilitates payments within the ecosystem, with a fee structure that incentivizes payments in $IO by waiving transaction fees when used.
Sounds pretty wild, no?
Believe me, it is.
That's why $IO getting listed on @coinbase tomorrow, is not coming as a surprise, even though the US exchange follows some of the strictest processes and standards for asset listings in all of crypto
@CoinbaseAssets reviews and votes on all assets that are considered for listings, based on legal, compliance, and technical security standards.
Assets also undergo additional business assessments, including quantitative and qualitative factors such as market demand, utility, and token traction.
Once listed, assets are continuously monitored to ensure they meet ongoing compliance.
Few understand what I'm explaining here, which is why regardless of the imminent listing, we're down 5% on the day and sit at not even $1.5B FDV (=$220M circulating mcap).
However, the market seems to slowly wake up.
Over the past 7days and 30days, $IO has already outperformed $BTC, $ETH and $SOL.
As the AI / DePIN hype grows, I can very well see this trend accelerate.
NFA but DYOR anon.
@coinbase @ionet Source ⤵️
x.com/CoinbaseAssets/status/1843683595367370787
4 images on X
How the call played out · since 08 Oct 2024
Prices as of 23 Oct 2026This piece takes a view on $IO, so that move is read against the call. Other assets it covers are shown as context, not as calls.
A fast-growing GPU cloud market, over 300k verified GPUs and early revenue traction support IO as it lists on Coinbase.
−92%
Moved against the call · over 2 years
- At publication
- $1.88
- Now
- $0.159
- vs BTC
- −94%
- After 1 month
- +0.5%
- After 3 months
- +102%
- After 1 year
- −72%
- High since
- +125% 14 Dec 2024
- Low since
- −95% 06 Apr 2026
Show market context for 3 other assets
Since then
Zero has written 23 more pieces on io.net and $IO since this one.
- io.net IDE tokenomics: #1 revenue DePIN at 5.3x MC/ARRBullish call on $IO
- DeAI as crypto's endgame: compute, agents and autonomous economiesOn io.net
- Why decentralized compute solves the startup GPU cost squeezeOn io.net
- Big compute is cracking: summary of the DeAI case against centralized cloudOn io.net
Daily closes in USD from DefiLlama and Yahoo Finance. Only a bullish or bearish call in a thesis or market take is tracked; explainers, lists, maps and mentions are neutral context. Not financial advice.