Akash Network’s Token Surges 50% on Upbit Listing

On Taylor, the price of Akash Network’s token AKT surged nearly to $7 on Tuesday. This occurred after AKT became available for trading on the South Korean cryptocurrency exchange, Upbit.

AKT jumped over 50% over the past 24 hours after trading steadily at $4 over the past week.

In simple terms, Upbit is the top cryptocurrency trading platform in South Korea based on total transaction value. As per Messari’s statistics, the current market worth of Aktocoins is estimated to be around 1.45 billion dollars.

Akash is a platform constructed with the help of the Cosmos software development kit (SDK) and operates on the Cosmos blockchain. This open network allows users to buy and sell computational resources through its own marketplace. Essentially, it bridges the gap between server owners seeking additional computing power for their applications and those who have excess cloud computing resources to offer.

On Mondays announcement, the firm unveiled plans for its “Akash summit” occurring preceding CoinDesk’s Consensus on May 28, in Austin, Texas. This event will center around the realm of decentralized artificial intelligence.

Iyer stated that companies and initiatives such as Akash Network and Ritual are pioneering the use of decentralized networks beyond crypto applications, and we anticipate further entrants following this trend.