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.
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.
https://twitter.com/HouseofChimera/status/1788582371001819220
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.
https://twitter.com/akashnet_/status/1788207908641030484
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.