Ethereum mainnet AI concept coin IMD market cap breaks through $39 million, hitting a historic high.

BlockBeats news, September 26, according to GMGN data, the market cap of AI concept token IMD on the Ethereum mainnet surpassed $39 million, hitting a new all-time high, and has now fallen back to $31 million, with 24-hour trading volume of $2.1 million.

IMD is an old project token on the ETH mainnet, transitioning from a blockchain game pet coin into an experimental project featuring "community-provided computing power, AI working, and token deflation." Its predecessor was Fren Pet, a virtual pet game on Base in 2023, later renamed VIBE, and then converted to IMD in May 2026. The token's current narrative is to build an "AI cooperative," where users holding qualifying NFTs can connect their computers and Claude/Codex quotas to the network, allowing AI agents to write code, audit contracts, and build applications together, with rewards distributed for completed projects; the token uses the POOL4 mechanism to allocate a portion of IMD from transactions, most of which is burned, with the remainder distributed to stakers and nodes. For more information, see "From Raising Virtual Pets to Raising AI Employees, What Is IMD Trying to Do."

BlockBeats reminds users that token prices are highly volatile, and investment requires caution.