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Highlights
- The AIOZ crypto is the native token of the AIOZ Network.
- AIOZ Network wants to alter how people stream videos globally.
- As of writing, the circulating supply of AIOZ crypto was 609.4 million.
The price of AIOZ Network (AIOZ) crypto skyrocketed by 140 per cent on Wednesday, and it was trading at US$ 0.1206 per token at 3 AM EST. Meanwhile, the volume of AIOZ crypto jumped massively over 12,000 per cent to US$ 33.7 million, according to CoinMarketCap data.
Despite the decreasing valuation of the crypto market and falling prices of the major virtual currencies, the rise in the price of AIOZ crypto seems to have gained traction among crypto enthusiasts.
Over the previous day, the global crypto market cap has declined by 1.3 per cent to US$ 904.4 billion. Also, the price of Bitcoin was down by 1.8 per cent to US$ 20,000.04 at the time of writing.
What is AIOZ crypto?
The distributed content delivery network (CDN) AIOZ Network was created on its blockchain. Users of the AIOZ Network pool redundant memory, storage, and bandwidth resources to build a sizable CDN that can support streaming platforms worldwide.
A CDN is a network of servers spread across different cities that stores and sends content to users' devices, like a video they watch on their phone.
AIOZ Network wants to alter how people stream videos globally. The network introduces a distributed CDN (dCDN) and signifies a significant change in how video is streamed globally.
A video on a dCDN originates from one of many nodes and average people who are paid to store and transmit content from their smartphone using an app. The software makes use of the computer's extra processing power and bandwidth.
The AIOZ crypto is the native token of the network, and it can be used to reward users for running nodes, staking AIOZ crypto, and marketing.
As of writing, the circulating supply of AIOZ crypto was 609.4 million, and the virtual currency's total supply is 1 billion. As per CoinMarketCap, the AIOZ crypto ranks 282 out of 20,127 cryptocurrencies worldwide.
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Bottom line
The massive price and volume surge of AIOZ crypto could be due to its listing announcement on crypto.com. The virtual currency is also listed on crypto exchanges like KuCoin, Coinbase Exchange, Huobi Global, and UniSwap (V3).
The increasing price of the AIOZ crypto should not be the only factor in investing in the virtual currency because the crypto market is volatile, and prices keep fluctuating.
Investors need to research the crypto project, use cases of the cryptocurrency, and assess if it can sustain itself in the long run.
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