{"id":299276,"date":"2024-05-10T15:40:45","date_gmt":"2024-05-10T10:10:45","guid":{"rendered":"https:\/\/dripp.zone\/news\/akash-network-akt-price-jumps-20-with-strong-trading-volumes-whats-next-crypto-news\/"},"modified":"2024-05-10T15:44:10","modified_gmt":"2024-05-10T10:14:10","slug":"akash-network-akt-price-jumps-20-with-strong-trading-volumes-whats-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/akash-network-akt-price-jumps-20-with-strong-trading-volumes-whats-next-crypto-news\/","title":{"rendered":"Akash Network (AKT) Price Jumps 20% With Strong Trading Volumes, What\u2019s Next? – Crypto News"},"content":{"rendered":"

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In the last 24 hours, the 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>\n

What\u2019s Behind the Akash Network (AKT) Price Surge?<\/h3>\n

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>\n

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Quarterly Revenue Growth of @akashnet_<\/a>: a QoQ analysis<\/p>\n

\ud83d\udd39The $AKT<\/a> ecosystem has been growing significantly QoQ, with a revenue of over 140,000 USD in Q1 2024
\ud83d\udd38Increasing interest in DePin, coupled with growing developer demand, results in higher usage of $AKT<\/a> pic.twitter.com\/NP4KnFK22n<\/a><\/p>\n

\u2014 House of Chimera (@HouseofChimera) May 9, 2024<\/a><\/p>\n

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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>\n

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The team shared comprehensive insights into the product strategy of the Praetor App (Akash Provider Console) on GitHub<\/a>. According to the post, the Overclock and Praetor teams have collaborated closely to synchronize their product strategy and roadmap.<\/p>\n

AKT Price Rally to Continue?<\/h3>\n

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\u2019s 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>\n

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Trader Andrew Griffiths has recognized a cup and handle formation for AKT, forecasting an upward target ranging from $7.9 to $12.1.<\/p>\n

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#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$-12.1$.#AKTUSD<\/a>
Find More Tools On https:\/\/t.co\/Gg38wPHMeL<\/a>, DM me to JOIN pic.twitter.com\/jYImyoJniv<\/a><\/p>\n

\u2014 Andrew Griffiths (@AndrewGriUK) May 7, 2024<\/a><\/p>\n<\/blockquote>\n

Decilizer, an analyst, observes AKT\u2019s resilience amid Bitcoin\u2019s decline, noting a firm support level at $4.5. The analyst predicts a clear trajectory towards the $6.2 target if Bitcoin\u2019s bullish trend persists. Historical data indicates that AKT has previously yielded a 21x profit in similar scenarios.<\/p>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

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