Key Points
- Akash Network (AKT) surged by almost 20% today on CoinMarketCap.
- Now, the AKT token is trading at $5.7.
Akash Network (AKT) token recorded an impressive surge of almost 20% earlier today, hitting $5.77, according to data on CoinMarketCap.
At the moment of writing this article, the AKT token is trading at $5.7, up by 18% on CoinMarketCap. The market cap of AKT is over $1.3 billion.
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On their X account, the team behind the project posted the quarterly revenue growth for Akash Network. According to their notes, the $AKT ecosystem has been seeing significant growth, with a revenue of over $140k in Q1 2024.
They note that increasing interest in DePIN coupled with a growing developer demand resulted in higher usage of the AKT token.
Quarterly Revenue Growth of @akashnet_: a QoQ analysis
🔹The $AKT ecosystem has been growing significantly QoQ, with a revenue of over 140,000 USD in Q1 2024
🔸Increasing interest in DePin, coupled with growing developer demand, results in higher usage of $AKT pic.twitter.com/NP4KnFK22n— House of Chimera (@HouseofChimera) May 9, 2024
Also, on May 8, the Akash Network team shared details about Praetor, the easiest way to set up a provider on Akash.
According to the official website, Praetor App makes it simple to become an Akash Network cloud provider. Instead of utilizing the Command-line Interface, a streamlined UI can be used to become a provider.
The team behind the project wrote that since joining forces with Overclock Labs back in April, the process of open-sourcing the entirety of Praetor is already well underway. This will reportedly make it possible for anyone to contribute to building the best provider setup.
Praetor is the easiest way to set up a provider on Akash.
Since joining forces with Overclock Labs last month, the process of open-sourcing the entirety of Praetor is already well underway.
This will make it possible for anyone to contribute to building the best provider setup… pic.twitter.com/rWgGCdS6C5
— Akash Network (@akashnet_) May 8, 2024
On Github, the team revealed in-depth details about the Praetor App (Akash Provider Console) product strategy. According to the post, the Overclock and Praetor teams have been working closely to align on a product strategy and roadmap.
The two main focuses detailed include the following:
- Making PraetorApp part of a cohesive product experience
- Building solutions to problems regarding boarding, monitoring, updating/upgrading, and troubleshooting Akash providers
What is Akash Network (AKT)?
Akash Network is a supercloud spearheading a paradigm shift in cloud computing. The project aims to disrupt conventional cloud services and pioneer a revolution in accessing essential cloud resources.
Akash Network uses the power of blockchain technology, and it has developed an open-source, decentralized marketplace for cloud computing.
They aim to provide high levels of speed, efficiency and affordability, with a main target of transforming the way in which users perceive and use cloud services.
In April, the Upbit crypto exchange announced the listing of the token AKT.
