Despite a weekend decline, AKT’s market cap surpassed $600 million, ranking it 94th among cryptocurrencies.
AKT, the native token of Akash Network, has experienced noteworthy appreciation since its low point of $2.3 on January 22nd.
AKT Price Movement and Market Position
Currently trading at $2.7, AKT has gained 13% over the previous twenty-four hours. After a significant decline over the weekend, the asset’s market capitalization surpassed $600 million; the native token of Akash Network is presently ranked 94th among the leading cryptocurrencies.
Currently, the cloud computing platform has a mere 100 active validators, according to on-chain data; Akash Network has 253 validators.
Santiment data indicates that AKT’s price increase has occurred despite a 37% decline in the asset’s social volume over the previous twenty-four hours.
In addition, according to Santiment data, the alleged “Supercloud” platform has not developed significantly since mid-October 2023.
AKT is experiencing a marginally heightened level of selling pressure, according to data from the market intelligence platform, as the asset posts the most significant gain among the top one hundred digital assets.
Santiment reports that the native token of Akash Network’s Relative Strength Index (RSI) increased from 31 to 41 in twenty-four hours. For the native token of Akash Network to remain in the bullish zone, its RSI must stay below 50.
The global cryptocurrency market capitalization has decreased by 1.8% over the last twenty-four hours and is currently hovering around $1.62 trillion, whereas the native token of Akash Network’s price has increased.
Once more, Bitcoin (BTC) fell below $40,000 as the Grayscale Bitcoin Trust (GBTC) selloff materialized following the approval of the BTC ETF.