Key Points
- Akash Network’s token AKT surged by more than 50% after Upbit announced the listing of the coin.
- AKT is trading on Upbit in KRW, BTC, and USDT markets.
Akash Network’s AKT token saw a significant sudden price breakout of over 50%. This came after the Upbit crypto exchange announced the listing of the token.
At the moment of writing this article, AKT is trading above $6, up by approximately 50% in 24 hours on CoinMarketCap. AKT’s market cap is over $1.4 billion.
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Upbit is the largest crypto exchange in South Korea by trading volume and the listing announcement triggered an impressive rally for the token.
On X, the team behind Akash Network announced that the token is trading on Upbit in KRW, BTC and USDT markets.
$AKT is now trading on @upbitglobal in KRW, BTC, and USDT marketshttps://t.co/LbVQg5utdN
— Akash Network (@akashnet_) April 23, 2024
In their official announcement, Upbit revealed that there’s a delay in the start of AKT market support of about an hour. Earlier today, the exchange announced that the deposit and withdrawal services for AKT have been launched.
The other day, Akash Network announced the Akash Summit which will be focused on the decentralized AI space.
Get ready for Akash Accelerate '24.
This will be the first full-day Akash summit, bringing the entire community together for a packed agenda of presentations and panels from the brightest minds in the Decentralized AI space.
When: May 28th, 2024 (before @consensus2024)
Where:… pic.twitter.com/Uu05PYlgxu— Akash Network (@akashnet_) April 22, 2024
The event is set to take place on May 28 in Austin, Texas.
Akash Network blends in smoothly into the wider DePIN narrative, which has seen increased interest from VCs recently.
According to the latest reports, Anand Iyer, the founder of Canonical Crypto, an early stage VC, said that it is seeing the true utility of decentralized hardware flourish as the computing needs for AI are surging.
What is Akash Network?
Akash Network is a Supercloud spearheading a paradigm shift in cloud computing, disrupting conventional cloud services, and pioneering a revolution in access to essential cloud resources.
Leveraging the power of blockchain technology, Akash Network has developed an open-source, decentralized marketplace for cloud computing, promising to offer an unprecedented level of speed, efficiency, and affordability.
This innovation is set to transform the way users perceive and utilize cloud services, according to the team behind the project.
On the official website, the team behind Akash Network notes that the project is purpose-built for public utility.
