Rally

Akash Network

April

Cosmos

<ul>
 <li>Akash Network (AKT) records a weekly surge of 47%, hitting $6.39.</li>
 <li>The platform’s quarterly revenue surges 40% due to the growing DePIN hype.</li>
</ul>
AKT, the native token of a decentralized cloud computing platform Akash Network, has observed a 26% rally in the last 24 hours. This surge is triggered by the disclosure of a 40% surge in its quarterly revenue.
AKT’s bullish streak is also evident on its weekly price chart. Over the past 7 days, this altcoin recorded a 47% surge from $4.3022 to $6. At the time of analysis, AKT <a href="https://coinmarketcap.com/currencies/akash-network/" target="_blank" rel="noopener noreferrer nofollow">traded</a> at $6.23. It held a market cap of $1.43 billion, ranking the sixty-third on the global crypto dashboard. Over the last 24 hours, the token’s trading volume increased 295% to $261 million.
Notably, Akash Network also <a href="https://twitter.com/HouseofChimera/status/1788582371001819220/photo/1" rel="noopener noreferrer nofollow">registered</a> a remarkable increase of 40% in its quarterly revenue. In Q1 2024, the ecosystem’s revenue was $140,000, while Q4 2023 recorded over $100,000. These figures were comparatively lower than those of the previous quarters in 2023.
<h3 class="wp-block-heading" id="h-decoding-the-rally-of-akash-network-akt">Decoding the Rally of Akash Network (AKT)</h3>
Multiple bullish metrics have appeared on the 4-hour price chart of AKT. First, the altcoin’s RSI has witnessed a rise to 77, indicating an overbought state. Second, the CMF (Chaikin Money Flow) has also noted an uptick, emphasizing the increased capital flow into the asset.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="461" src="https://thenewscrypto.com/wp-content/uploads/2024/05/AKTUSDT_2024-05-10_12-51-10-1024x461.png" alt="" class="wp-image-97960" srcset="https://thenewscrypto.com/wp-content/uploads/2024/05/AKTUSDT_2024-05-10_12-51-10-1024x461.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/05/AKTUSDT_2024-05-10_12-51-10-300x135.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/05/AKTUSDT_2024-05-10_12-51-10-768x346.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/05/AKTUSDT_2024-05-10_12-51-10-1536x691.png 1536w, https://thenewscrypto.com/wp-content/uploads/2024/05/AKTUSDT_2024-05-10_12-51-10.png 1915w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">Akash Network (AKT) 4H Price Chart (Source: <a href="https://in.tradingview.com/symbols/AKTUSDT/?exchange=GATEIO" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
Built on the Cosmos ecosystem, Akash Network continues to be a key player in the decentralized physical infrastructure network (DePIN) paradigm. According to the analysis, if AKT takes the bullish route, it may potentially reach $6.5302. Overpowering bulls might drive it even higher, surpassing $7.28 and marking a new high. However, if it slips into the bearish route, it may breach support levels such as $4.621 and further down to $3.478.
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Will Akash Network (AKT) Surpass its April High with 26% Surge?

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