AKT surges by 9 following Akash Networks announcement of future plans at decentralized AI conference
Akash Network, a prominent figure in the world of decentralized cloud computing, has witnessed its native cryptocurrency, AKT, emerge as one of the top performers among the top 100 digital currencies.
As of now, AKT is still showing a 9% increase in the last 24 hours, with a trading price of approximately $4.48 per token. During this period, the token has seen a daily trading volume of $51.7 million, marking a significant 495% increase. The market capitalization of this crypto asset has also risen to $1.07 billion, positioning it as the 76th largest cryptocurrency.
Despite this recent surge in price, AKT is still down by 40% from its peak value of $7.41, achieved on April 8, 2021.
The price spike of AKT coincides with Akash Network’s successful hosting of its first full-day summit, Akash Accelerate, which focused on the expansion of decentralized AI and permissionless computing. This event took place in Austin, TX, and attracted numerous participants from the decentralized computing sector, highlighting the network’s growth and the diverse projects, companies, and protocols within its ecosystem.
The summit showcased key partnerships and presentations that emphasized the benefits of utilizing Akash’s Supercloud for high-performance computing. Notable entities like the University of Texas at Austin and prominent AI firms such as Nous Research, Brev.dev, and Morpheus were actively involved in discussions about the practical applications of decentralized infrastructures.
For instance, the University of Texas at Austin is leveraging Akash’s decentralized infrastructure to grant researchers access to high-performance GPUs crucial for cutting-edge AI research, without the constraints and high expenses typically associated with traditional cloud providers.
Furthermore, the event revealed a roadmap for Akash’s future development, as presented by CEO Greg Osuri. His keynote address outlined the strategic vision and anticipated enhancements to Akash’s platform, aimed at further enhancing its infrastructure and solidifying its position in the decentralized cloud market.
This announcement has likely fueled renewed interest and optimism among investors regarding AKT, showcasing Akash’s dedication to scaling and enhancing its services.
The surge in AKT’s value comes at a time when the global cryptocurrency market is experiencing a downturn, with a 3% decrease bringing the total market capitalization to $2.45 trillion. Bitcoin, the leading cryptocurrency, has also seen a similar decline, currently trading at $67,206.
For more information on decentralized physical infrastructure networks (DePIN), where digital intersects with reality, stay tuned for updates.
