Long

Akash Network

Equilibrium

Akash Network's <a href="https://yellow.com/asset/akt" rel="noopener noreferrer nofollow">AKT</a> token shed more than 12% in 24 hours on Friday, erasing a stretch of gains that had pushed the decentralized cloud project near $0.90.
<h2 id="akt-pullback-erases-recent-highs">AKT Pullback Erases Recent Highs</h2>
The selloff <a href="https://ambcrypto.com/akash-network-crashes-12-can-akt-bulls-defend-the-0-595-support/" rel="noopener noreferrer nofollow">coincided</a> with a sharp drop in trading activity, with daily volume falling roughly 32.8% to about $9.93 million. Market capitalization slipped 13.11% to near $204.34 million.
The retracement followed an aggressive rally that had carried the token from roughly $0.40 to a peak near $0.90 in just a few weeks. Earlier in May, Akash had been <a href="https://yellow.com/news/akash-network-token-jumps-12-percent-cloud-demand" rel="noopener noreferrer nofollow">trading near $0.846</a> with a market cap above $246 million, fueled by renewed demand for decentralized GPU compute.
Also Read:<a href="https://yellow.com/news/stablecoin-322b-rally-bulls-expected" rel="noopener noreferrer nofollow">Why A $322B Stablecoin Pile Hasn't Triggered The Crypto Rally Bulls Expected</a>
<h2 id="liquidations-and-outflows-tell-the-story">Liquidations And Outflows Tell The Story</h2>
Long traders absorbed the brunt of the move. Total long liquidations climbed above $56,000, while short liquidations stayed near just $1.85K, CoinGlass data showed.
Binance alone accounted for more than $37,000 in liquidated long positions during the flush, while Gate added another $13,000 in long wipeouts. The imbalance pointed to overleveraged bullish exposure near the local top.
Spot flow data added another layer. Netflows dropped to nearly -$293.64K, suggesting investors pulled tokens off exchanges even as the price weakened. That pattern usually signals accumulation rather than panic selling.
Daily RSI cooled to roughly 52 after <a href="https://changelly.com/blog/akash-network-akt-price-prediction/" rel="noopener noreferrer nofollow">printing</a> above 74 during the breakout phase, a sign that momentum had drained without flipping fully bearish.
<h2 id="what-comes-next-for-akash">What Comes Next For Akash</h2>
The $0.595 zone now sits as the line buyers need to defend. That level acted as the breakout floor in early May, and a second test could decide whether the broader uptrend stays intact.
If sellers force a clean break, AKT could revisit its pre-rally consolidation range.
A successful hold opens room for another attempt at the $0.906 ceiling, where the latest rejection occurred. The pullback follows a strong year-to-date run for Akash, one of the leading AI-themed altcoins, up roughly 72% on the year before this week's decline.
The Burn-Mint Equilibrium upgrade, activated in March, has tied AKT supply directly to network compute spending, a mechanism the team has framed as a long-term tailwind even through short-term volatility.
Read Next:<a href="https://yellow.com/news/binance-whale-swap-eth-stablecoin-rotation" rel="noopener noreferrer nofollow">Whale Handover On Binance: 225,558 ETH In, $1.32B Stablecoins Out</a>

AKT Sheds 12% In 24 Hours, Long Traders Lose $56K In Flush

Table of Contents

Yellow News

Other articles published on May 17, 2026

Join our free newsletter for daily crypto updates!