The Artificial Intelligence Concept Token IMD on the Ethereum Mainnet Has Reached a Record-High Market Capitalization Above $39,000,000.

Description: IMD's Ethereum Mainnet market cap exceeded $39,000,000 USD for a new record, according to GMGN data via BlockBeats.

Tags: Ethereum, AI token, IMD, GMGN, market cap

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IMD, an AI-themed token on Ethereum Mainnet, reached a market capitalization above $39,000,000 USD for the first time, according to GMGN data cited by BlockBeats on September 26. The market capitalization later eased to $31,000,000 USD, while the reported 24-hour trading volume was $2,100,000 USD.

A shift from pet tokens to AI work

IMD is an older Ethereum Mainnet token that has changed direction several times. The source describes it as moving from a blockchain pet coin to an experiment built around community-supplied computing power, AI work, and token deflation. Its earlier lineage includes Fren Pet, a virtual-pet game on Base in 2023, which later became VIBE before being converted into IMD in May 2026.

The project's current story is an "AI cooperative." According to the source, users holding qualifying non-fungible tokens can connect their own computers and Claude or Codex usage quotas to the network. AI agents are then expected to work on tasks such as writing code, reviewing contracts, and building applications, with rewards shared after projects are completed.

Market-cap record and trading activity

The move to a record market capitalization is notable because it happened after the token had already changed identities. The $39,000,000 USD peak was followed by a $31,000,000 USD market capitalization, while the reported $2,100,000 USD in 24-hour volume shows that the record was reached in an active trading window.

IMD also uses the POOL4 mechanism. The source says that part of the token is removed during trading, with the majority destroyed and the remainder distributed to stakers and nodes. This design ties market activity to a deflationary model, while the AI cooperative narrative adds a use case that depends on non-fungible token access, community compute, and AI tools.

What the report leaves for readers to watch

For readers, the news is less about the record number itself and more about whether the project can keep converting attention into sustained activity. The key facts to follow are the $31,000,000 USD market capitalization after the peak, the $2,100,000 USD daily volume, the POOL4 deflation process, and whether the described use of Claude and Codex quotas, non-fungible tokens, stakers, and nodes leads to ongoing participation. BlockBeats also noted that token prices are highly volatile and investing carries risk.