2024

Akash Network

Strong

<img decoding="async" width="1600" height="900" src="https://coingape.com/wp-content/uploads/2024/05/Akash-Network-AKT-Price-Surge.webp" class="attachment-full size-full wp-post-image" alt="" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/05/Akash-Network-AKT-Price-Surge.webp 1600w, https://coingape.com/wp-content/uploads/2024/05/Akash-Network-AKT-Price-Surge-300x169.webp 300w, https://coingape.com/wp-content/uploads/2024/05/Akash-Network-AKT-Price-Surge-1224x689.webp 1224w, https://coingape.com/wp-content/uploads/2024/05/Akash-Network-AKT-Price-Surge-768x432.webp 768w, https://coingape.com/wp-content/uploads/2024/05/Akash-Network-AKT-Price-Surge-1536x864.webp 1536w, https://coingape.com/wp-content/uploads/2024/05/Akash-Network-AKT-Price-Surge-678x381.webp 678w, https://coingape.com/wp-content/uploads/2024/05/Akash-Network-AKT-Price-Surge-150x84.webp 150w" sizes="(max-width: 1600px) 100vw, 1600px">
<p>In the last 24 hours, the <a href="https://coingape.com/markets/whats-ahead-akash-network-akt-price-after-55-today/" target="_blank" rel="noopener">Akash Network (AKT) token</a> has registered an impressive price rally recording a 20% surge and breaking past the crucial resistance of $5.0. As of press time, the Akash Network (AKT) price is trading at $5.66 with a market cap of $1.336 trillion with its daily trading volume skyrocketing 350% all the way to $232 million.</p> 
<h3 id="what-s-behind-the-akash-network-akt-price-surge">What’s Behind the Akash Network (AKT) Price Surge?</h3> 
<p>The team behind the project shared quarterly revenue growth for Akash Network on their X account. They reported significant growth within the $AKT ecosystem, generating over $140k in revenue during Q1 2024. This growth is attributed to increasing interest in DePIN and rising demand from developers, leading to higher usage of the AKT token.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Quarterly Revenue Growth of <a href="https://twitter.com/akashnet_?ref_src=twsrc%5Etfw">@akashnet_</a>: a QoQ analysis</p> 
 <p><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f539.png" alt="🔹" class="wp-smiley" style="height: 1em; max-height: 1em;">The <a href="https://twitter.com/search?q=%24AKT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AKT</a> ecosystem has been growing significantly QoQ, with a revenue of over 140,000 USD in Q1 2024<br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f538.png" alt="🔸" class="wp-smiley" style="height: 1em; max-height: 1em;">Increasing interest in DePin, coupled with growing developer demand, results in higher usage of <a href="https://twitter.com/search?q=%24AKT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AKT</a> <a href="https://t.co/NP4KnFK22n">pic.twitter.com/NP4KnFK22n</a></p> 
 <p>— House of Chimera (@HouseofChimera) <a href="https://twitter.com/HouseofChimera/status/1788582371001819220?ref_src=twsrc%5Etfw">May 9, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Additionally, on May 8, the Akash Network team provided details about Praetor, a user-friendly platform for setting up a provider on Akash. Praetor App simplifies the process of becoming an Akash Network cloud provider by offering a streamlined UI. It also eliminates the need for Command-line Interface usage. The team noted that since merging with Overclock Labs in April, efforts to open-source Praetor are well underway.</p> 
<p>The team shared comprehensive insights into the product strategy of the Praetor App (Akash Provider Console) on <a rel="nofollow" href="https://github.com/akash-network/community/blob/main/product-strategy/praetor-akash-provider-console-strategy.md" target="_blank">GitHub</a>. According to the post, the Overclock and Praetor teams have collaborated closely to synchronize their product strategy and roadmap.</p> 
<h3 id="akt-price-rally-to-continue">AKT Price Rally to Continue?</h3> 
<p>In the last 24 hours, Akash Network (AKT) has surged by 15.63%, reaching a current trading price of $5.64. The token has surpassed a diagonal trendline on the 4-hour timeframe and is striving to maintain the previous week’s high of $5.095 as a support level. According to TraderAAG, if AKT falls below this support, there might be a chance for a retest of the trendline, offering a potential opportunity to increase positions.</p> 
<p><img decoding="async" class="aligncenter size-full wp-image-196219" src="https://coingape.com/wp-content/uploads/2024/05/Akash-Network-AKT-Trendline.png" alt="" width="1024" height="529" srcset="https://coingape.com/wp-content/uploads/2024/05/Akash-Network-AKT-Trendline.png 1024w, https://coingape.com/wp-content/uploads/2024/05/Akash-Network-AKT-Trendline-300x155.png 300w, https://coingape.com/wp-content/uploads/2024/05/Akash-Network-AKT-Trendline-768x397.png 768w, https://coingape.com/wp-content/uploads/2024/05/Akash-Network-AKT-Trendline-150x77.png 150w" sizes="(max-width: 1024px) 100vw, 1024px"></p> 
<p>Trader Andrew Griffiths has recognized a cup and handle formation for AKT, forecasting an upward target ranging from $7.9 to $12.1.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/AKT?src=hash&amp;ref_src=twsrc%5Etfw">#AKT</a> AKT is prepping for a huge move as I look back on my old cup and handle setup from a while back. The upside projection remains between 7.9$-12.1$.<a href="https://twitter.com/hashtag/AKTUSD?src=hash&amp;ref_src=twsrc%5Etfw">#AKTUSD</a><br>Find More Tools On <a href="https://t.co/Gg38wPHMeL">https://t.co/Gg38wPHMeL</a>, DM me to JOIN <a href="https://t.co/jYImyoJniv">pic.twitter.com/jYImyoJniv</a></p> 
 <p>— Andrew Griffiths (@AndrewGriUK) <a href="https://twitter.com/AndrewGriUK/status/1787904171422761451?ref_src=twsrc%5Etfw">May 7, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Decilizer, an analyst, observes AKT’s resilience amid Bitcoin’s decline, noting a firm support level at $4.5. The analyst predicts a clear trajectory towards the $6.2 target if Bitcoin’s bullish trend persists. Historical data indicates that AKT has previously yielded a 21x profit in similar scenarios.</p> 
<p>The post <a href="https://coingape.com/akash-network-akt-price-jumps-20-with-strong-trading-volumes-whats-next/">Akash Network (AKT) Price Jumps 20% With Strong Trading Volumes, What’s Next?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Akash Network (AKT) Price Jumps 20% With Strong Trading Volumes, What’s Next?

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