AKT rises to the top as social activity declines, claiming the title of top gainer.
Akash Network’s native token, AKT, has experienced a significant increase in value after reaching a low point of $2.3 on January 22nd.
Currently, AKT is up by 13% in the last 24 hours and is being traded at $2.7. The token’s market capitalization has once again surpassed $600 million, following a sharp decline over the weekend. As a result, AKT currently holds the 94th position among the top cryptocurrencies.
According to Santiment, AKT’s price surge coincided with a 37% decrease in social volume over the past 24 hours. However, the platform’s “Supercloud” has not seen any major development activity since mid-October 2023, as reported by Santiment.
On-chain data reveals that the cloud computing platform currently has 100 active validators, out of a total of 253 validators for Akash Network.
Santiment’s data also indicates that AKT is facing slightly increased selling pressure, despite being the top gainer among the top 100 digital assets.
AKT’s Relative Strength Index (RSI) has risen from 31 to 41 in the last 24 hours, according to Santiment. To maintain a bullish stance, AKT’s RSI would need to remain below the 50 mark.
While AKT’s price has surged, the global cryptocurrency market cap has seen a decline of 1.8% in the past 24 hours, currently standing at around $1.62 trillion. Bitcoin (BTC) has once again fallen below the $40,000 mark, as the Grayscale Bitcoin Trust (GBTC) selloff became apparent following the approval of the BTC ETF.
For more news, follow us on Google News.
