On a day when the crypto market is witnessing a free fall, only a few tokens seem to be enjoying their day better than the others. One crypto that managed to hold its ground was the Idexo Token (IDO) on a day when the overall crypto market slumped by 8.41%.
The IDO crypto is a unique protocol, which aims to empower entrepreneurs who want to contribute to the innovative Web 3.0 projects and provide disrupting and decentralised technologies for further development.
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The IDO token on Tuesday witnessed a positive uptick in both price and volume. The IDO crypto was witnessing a price rally of 1.28% and a volume gain of over 1% at the time of writing.
Why is IDO crypto rallying?
The IDO crypto’s rally is heartening, considering it gives a break to the investors who have witnessed prolonged bearishness in the crypto. The token has been down by 14.3% in the past 30 days, and today’s gains would be a relief for its investors.
IDO’s rally seems to be one of the back of the news of its announcement of an updated version of the NFT marketing software. With the updated version, the Web 3.0 developers can plan, create, and manage NFT collections and mint them on multiple blockchains such as Avalanche, Ethereum, Polygon, etc.
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With the minting facility available, the users can track them and provide the developers with the tools for building disruptive applications. Founded by Greg Marlin and Helder Sepulveda in 2021, the IDO crypto will also offer users with staking facility and reward them with stablecoins with additional bonus rewards in IDO tokens.
How is IDO crypto faring?
The token was trading at US$0.072392 with a 24-hour trading volume of US$1,02,618, according to CoinMarketCap. The IDO token was enjoying a fully diluted market cap of US$ $7,250,219 with a maximum supply of 100,000,000 IDO coins.
IDO crypto’s rally on a day of the flash crash should put a smile on investors’ faces, but they must also be wary of the fact that in crypto markets, the prices of the token can change at any given point in time. Therefore, they must follow all the checks before entering the crypto market.
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