Bio Protocol price rose more than 50% as bulls defied broader market selling to hit $1.46
Despite overall sell-off pressure, BIO price is up double-digits in 24 hours as volume spikes 720%.
BIO has benefited from key network developments, including staking and partnerships.
The price of Bio Protocol (BIO) shrugged off a broader crypto downturn to lead 24-hour gainers on Monday.
With the project that’s targeting the decentralized science (DeSci) ecosystem hitting key milestones recently, buyers have upped the ante by pushing BIO higher.
BIO price surges nearly 50% to lead top gainers
The Bio Protocol (BIO) price saw a significant surge as top altcoins struggled amid profit taking.
With Bitcoin shedding gains to below $116k and Ethereum dipping to $4,200, the BIO token climbed nearly 50% to lead the top gainers.
Per CoinMarketCap, this put the decentralized science project among the 500 largest cryptocurrencies by market capitalization.
Notably, Bio Protocol traded up from lows of $0.10 and topped $0.15.
The uptick meant BIO defied overall declines across the market, with gains coming as its 24-hour volume spiked 720% to over $393 million.
Although BIO remains double-digits up with over 21% upside in the past 24 hours, it has dropped from the $0.15 high. This shows the overall market weakness as sellers drive it to around $0.12.
Bio Protocol has hit key network milestones
Bio Protocol has gained amid significant network milestones in the past week.
As the DeSci economy picks up, the Bio Protocol team has positioned the project for greater traction with the launch of Bio Markets.
The goal is a platform that brings real-time insights into projects within the Bio Protocol ecosystem.
Markets bring growth trends and in-app trading for BioDAOs, and Bio plans to expand trading capabilities to IP-Tokens and new BioAgents.
Staking activity has also soared, with over 125 million BIO tokens staked, up to 3.5% of the circulating supply.
As the Bio team recently noted, staking generates BioXP, a key component for participating in upcoming Ignition Sales.
Unveiling of Yapping BioXP, also set to go live in the app this week, includes a boost campaign for BioAgents, further incentivizing community engagement.
What does it mean for BIO price?
Bio Protocol also hit a major milestone with CLAW, Percepta’s IP-Token.
Meanwhile, Molecule’s development of its v2 protocol targets the bridging of traditional corporate structures with DeSci.
Listing on Coinbase, the top U.S.-based crypto exchange, allows for further institutional adoption.
“From Bio V2’s launch and 100M+ BIO staked, to Coinbase listing $BIO and VitaDAO advancing longevity trials, the past month marked key steps in AI-driven science and DeSci adoption,” Bio Protocol recently posted.
Achievement of these milestones could help bolster the price of BIO.
