Akash Network
AKT Rank 285 Rank 285
$0.459167 (-4.35%)

Akash Network AKT price:

$0.459167 (-4.35%)
1h-0.84%
24h-4.35%
Week-11.38%
Month-21.11%
Year-90.36%
ETH 0.000144 (-3.92%)
BTC 0.00000497 (-3.32%)
$0.454653 24h Range $0.482251

Akash Network (AKT) Metrics

Basic info
Source code
Asset type
Contract Address
Explorers
Market Cap Rank 285
$130,179,865.00 BTC 1,410.00
All Time High
$10.35 12 Sep 21 % to ATH (2,153.01%)
Volume (24h) Rank 439
$6,132,901.01 BTC 66.43
Circulating Supply
283,512,876 Total:232,363,087 Max: 388,539,008

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Akash Network (AKT)

What is Akash Network?

Akash Network (AKT) is a decentralized cloud computing marketplace that operates as a cryptocurrency. The Akash Network token (AKT) is used for transactions within the platform, enabling users to buy and sell computing resources in a peer-to-peer manner. This blockchain project aims to provide a cost-effective and efficient alternative to traditional cloud services by allowing users to leverage underutilized computing power. Akash Network runs on the Cosmos blockchain, facilitating seamless interoperability and scalability within the decentralized ecosystem.

When and how did Akash Network start?

Akash Network (AKT) was launched in 2020 and is a decentralized cloud computing marketplace developed by a team led by Greg Osuri. The platform aims to provide a cost-effective and efficient alternative to traditional cloud services by allowing users to rent unused computing power. Akash Network gained significant attention with its initial listing on major exchanges and secured funding through notable rounds, including a $21 million investment from various venture capital firms. Its early development was marked by the release of the Akash mainnet in January 2021, further solidifying its position in the decentralized technology space.

What’s coming up for Akash Network?

Akash Network (AKT) is poised for significant growth as it continues to enhance its decentralized cloud computing platform. The upcoming roadmap includes the launch of Akash 2.0, which aims to improve user experience and expand its marketplace for cloud resources. Additionally, the community plans to implement new features such as enhanced security protocols and better integration with major blockchain ecosystems. These developments are expected to drive increased adoption and open new use cases, positioning Akash as a leading alternative to traditional cloud services. With a focus on scalability and community-driven goals, Akash Network is set to evolve as a vital player in the decentralized infrastructure landscape.

What makes Akash Network stand out?

Akash Network (AKT) is unique compared to other cryptocurrencies due to its decentralized cloud computing marketplace that connects users seeking computing power with providers offering excess capacity. Its standout technology leverages a unique bidding system that allows developers to deploy applications at significantly lower costs, making it a compelling real-world use case for businesses seeking efficient cloud solutions. Additionally, Akash operates on a proof-of-stake consensus mechanism, enhancing security and scalability within its ecosystem.

What can you do with Akash Network?

Akash Network (AKT) is primarily used for decentralized cloud computing, allowing users to rent out their unused computing resources. The AKT token serves as a utility token for payments within the network, enabling transactions for services rendered. Additionally, users can participate in governance and staking to earn rewards and influence the network's development.

Is Akash Network still active or relevant?

Akash Network (AKT) is currently active, with ongoing development and a dedicated community presence. It is still traded on various exchanges, reflecting sustained interest and engagement from users and developers alike. Recent updates indicate that the project is not inactive or abandoned, as it continues to evolve within the decentralized cloud computing space.

Who is Akash Network designed for?

Akash Network (AKT) is built for developers and businesses seeking decentralized cloud computing solutions. Its target audience includes those looking to leverage cost-effective and scalable infrastructure for deploying applications, making it ideal for tech startups, enterprises, and projects in need of flexible cloud resources. The platform is adopted by a community of innovators focused on enhancing the efficiency of cloud services through blockchain technology.

How is Akash Network secured?

Akash Network (AKT) secures its blockchain through a unique consensus mechanism known as Proof of Stake (PoS), where validators are responsible for validating transactions and maintaining network security. This setup allows for efficient and decentralized governance, as stakeholders can participate in the decision-making process, ensuring robust blockchain protection against malicious activities. By incentivizing validators with rewards, Akash enhances its network security and reliability.

Has Akash Network faced any controversy or risks?

Akash Network (AKT) has faced risks related to extreme volatility, typical in the cryptocurrency market, which can lead to significant price fluctuations for investors. Additionally, like many decentralized platforms, it is not immune to security incidents, raising concerns about potential hacks that could compromise user assets. While there have been no major legal issues reported, the evolving regulatory landscape poses ongoing challenges for its operational framework.

Akash Network (AKT) FAQ – Key Metrics & Market Insights

Where can I buy Akash Network (AKT)?

Akash Network (AKT) is widely available on centralized cryptocurrency exchanges. The most active platform is Binance Futures, where the AKT/USDT trading pair recorded a 24-hour volume of over $884 439.92. Other exchanges include Upbit and Coinbase.

What’s the current daily trading volume of Akash Network?

As of the last 24 hours, Akash Network's trading volume stands at $6,132,901.01 , showing a 40.31% decline compared to the previous day. This suggests a short-term reduction in trading activity.

What’s Akash Network’s price range history?

All-Time High (ATH): $10.35
All-Time Low (ATL): $0.152880

Akash Network is currently trading ~95.56% below its ATH and has appreciated +200% from its ATL.

What’s Akash Network’s current market capitalization?

Akash Network’s market cap is approximately $130 179 865.00, ranking it #285 globally by market size. This figure is calculated based on its circulating supply of 283 512 876 AKT tokens.

How is Akash Network performing compared to the broader crypto market?

Over the past 7 days, Akash Network has declined by 11.38%, underperforming the overall crypto market which posted a 1.46% decline. This indicates a temporary lag in AKT's price action relative to the broader market momentum.

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Akash Network Basics

Website
WalletCoins Mobile App
Source code
Asset typeToken
Contract Address
Explorers (3)
Tags
  • Marketplace (211)
  • Ethereum (ETH) Token (ERC-20) (13298)
  • Polygon (MATIC) Token (1463)
  • AI (Artificial Intelligence) (543)
  • Distributed Computing (26)
  • Web3 (72)
  • DePIN (124)
  • Made in USA (107)
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