Akash Network (AKT) Price Moves Up 20%, Boosting Investor Confidence

Name	Symbol	Market	Market Cap ($)	Algorithm
Akash Network	AKTUSD	Crypto	695,315,046	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Akash Network

AKTUSD

Crypto

695,315,046

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	2.81	2.81	2.82

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

2.81

2.82

High Price	Low Price	Open Price	Prev. Close	52 Week Range
2.84	2.70	2.78	2.81	1.76 - 7.50

High Price

Low Price

Open Price

Prev. Close

52 Week Range

2.84

2.70

2.78

2.81

1.76 - 7.50

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	02:55:18	3.94	2.79	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

02:55:18

3.94

2.79

USD

Price x Volume	Volume	Base Symbol	Related Pairs
112,111.53	40,493.69	AKT	AKTEUR	AKTGBP	AKTBTC

Price x Volume

Volume

Base Symbol

Related Pairs

112,111.53

40,493.69

Akash Network (AKT) Price Moves Up 20%, Boosting Investor Confidence

11/08/2024 11:00pm

NEWSBTC

The Akash Network (AKT) surged once more as the platform gained investor interest in the decentralized cloud computing scene. According to Coingecko, the token is up 20% since last week as the fear, uncertainty, and doubt the market experienced died down. Related Reading: Dogecoin Major Metrics Fire Bullish Signals, Can Price Cross $0.5 The platform is slowly expanding its operations with new additions to Akash that will benefit both investors and Akash service consumers alike. Along with the market’s general bullishness, it seems that AKT will see tremendous growth in the long term. Network Utility Reaches Almost Half As Renters Double August 10th revealed that the platform’s GPU utility rate has reached over 43% as renters of Akash GPUs increased. In an interview on Bare Metal Podcast, Akash Founder Greg Osuri said that the usual customers of the network are mostly smaller companies with no access to high computing power. Utility rate at @akashnet_ is currently 📸: 43% . It’s rather consistent, so who’s renting from them? 🤔@gregosuri gives us a hint: funded non-crypto companies that cannot get access to generalized GPU compute anywhere else.$AKT guarantees access to its market’s resources. pic.twitter.com/0pbu8zktPd — Akash Alpha (@akashalpha_) August 9, 2024 “All of these companies…how hard it is for them to get on-demand access for A100s. If you don’t have a hundred million dollars in your bank account and are not funded by Amazon, Google, or Microsoft, it’s impossible to get high-density computing power,” Osuri stated. The A100 is one of NVIDIA’s top-of-the-line data-center GPUs specifically built for machine learning applications. With a market price of $10,000, small companies that are not heavily funded may have difficulties in obtaining this important piece of hardware for data-related needs. According to Osuri, the biggest selling point of Akash is its open access. “So today, if you’re a company trying to get GPUs, it’s impossible,” Osuri said, highlighting the difficulty companies experience acquiring big assets like the A100 GPUs that are essential for data-heavy workloads. In this sense, Akash succeeded in providing access to high-density computing power to small enterprises. A quick look at Akash’s website reveals that A100 renting prices are only $2.08 per hour with the lowest being $0.75. This provides an edge against its competitors in the same niche as its aggressive pricing gives small companies the best bang for their buck in terms of computing power. Related Reading: Solana Epic Bull Run Is Just Starting – 10 Catalysts That Could Drive SOL To $1,000 Can This Growth Boost Akash Network More? AKT is experiencing high price growth pressure as the network’s utility grows, putting them in the limelight. With the token’s current position, we might see a return to $3 in the long run as more consumers use the platform. However, AKT’s correlation with the broader market might hurt the token in the long term. However, the market is continuing its gradual upward movement, giving investors and traders confidence in the long-term performance of the token. Featured image from Verizon, chart from TradingView

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AKTUSD Akash Network