Bio Protocol crypto up 25% after backing brain health trial with funding
Trading volume in Bio Protocol crypto rose 720% after a week of significant announcements.
- Bio Protocol crypto is up 25% daily, reaching $211 million in market cap
- The protocol recently unveiled funding for clinical trials on humans for a brain health supplement
- BIO staked tokens rose to 122M, representing 3.5% of its circulating supply
Despite a broader market downturn, some altcoins are gathering momentum. One of them is Bio Protocol (BIO), which reached a daily high of $0.1514 before stabilizing at $0.1301. Even after the correction, the token is up 25% on a daily basis. The surge brought the token’s market cap to $217.58 million.
Accompanying the token’s strong performance was a 720.24% increase in daily volume, which reached $443.47 million. What is likely driving increased trading interest is a series of updates that helped boost the token’s scarcity and utility.
For one, one of the protocols on BIO’s platform, Cerebrum DAO, approved its first funding for a human clinical trial. Its community voted in favor of the protocol to raise $80,000 to expand the trials for a brain health supplement, Percepta, focusing on memory loss and neurodegeneration.
Bio Protocol will provide the funding. In exchange, it will get a share of CLAW tokens, which are tied to royalties from the Percepta brain supplement. This means that Bio Protocol crypto is tied to the commercial success of this drug.
Bio Protocol crypto
On the tokenomics side, there has been a significant increase in the amount of staked Bio Protocol crypto. Staked BIO tokens rose to 125 million, representing 3.5% of its circulating supply. Staked tokens generate BioXP, giving users access to new assets in the Bio ecosystem.
Launched in December 2024, Bio Protocol crypto hopes to power the funding layer of the biotech industry. Biotech is a risky venture, but one that offers potentially high returns that pairs well with crypto.
