Upbit has added io.net (IO) to its KRW market, triggering a sharp move in the token shortly after the listing notice. According to the source material, IO surged 31.55% within 24 hours and touched $0.211 before easing back. The token was later quoted near $0.19, still up about 23% on the day, while daily trading volume climbed 230% to $174 million.
Listing opened on KRW with Solana-only support
Upbit identified the asset as IO and launched trading against KRW. The exchange said deposits and transfers would support the Solana network only. The contract address listed in the notice was BZLbGTNCSFfoth2GYDtwr7e4imWzpR5jqcUuGEwr646K, and trading was scheduled to begin at 18:30 KST on May 29, 2026.
To manage the first wave of activity, Upbit applied temporary restrictions. Buy orders were limited for about 5 minutes. Sell orders below 10% of the reference price were restricted for roughly 5 minutes as well. For around 2 hours, only limit orders were allowed, with market orders unavailable during that period.
io.net positions itself as a decentralized GPU marketplace
The project is described as a global marketplace for computing power, pulling underused GPUs from independent data centers, crypto miners, and home computers into a single network. Developers building machine learning and AI applications can rent that compute capacity on demand. The source says the platform offers cost savings of up to 70% compared with Amazon Web Services.
It also states that the network spans more than 138 countries and has a potential supply approaching 1,000,000 GPUs. The article names Leonardo.Ai as one of the companies using the infrastructure. Within the network, the IO token is used for payments, staking, node security, and rewards for providers contributing compute resources.
Volume spike puts focus on near-term price levels
Based on the cited market data, IO's market capitalization was fluctuating between $65 million and $70 million. The source points to an overhead resistance zone in the $0.22 to $0.25 range after the listing-driven jump. At the same time, it notes that a fade in post-listing enthusiasm could send the token back toward $0.18 to $0.15 if short-term traders lock in gains.
The same material also mentions a pending tokenomics revamp as another factor being watched, including possible changes to emissions or the introduction of burn mechanics. No finalized update was provided in the source.
Another example of Upbit's AI token trading effect
The article places IO alongside other AI-linked tokens that saw heavy intraday reactions after opening KRW pairs on Upbit, including Sahara AI, USD.AI, Venice Token, Virtuals Protocol, Bittensor, and Render. In this case, the listing notice, temporary launch controls, and sudden expansion in turnover were the main drivers behind the move.