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Akash Network’s Token Surges 50% On Upbit Listing
Akash Network, a decentralized cloud computing platform, has seen its token AKT rise to almost $7 on South Korean exchange Upbit. The token has risen over 50% in the past 24 hours, after
trading steadily at $4 over the past week.
Upbit is the largest cryptocurrency exchange in South Korea by trading volume, and AKT currently has a market capitalization of $1.45 billion. Akash was built using the Cosmos software development kit (SDK) and implemented on the Cosmos blockchain. It connects server owners who need computing power to host applications with cloud computing resources.
The company announced its ‘Akash summit’ on Monday, which will focus on the decentralized artificial intelligence (AI) space. Akash Network fits into the broader ‘DePIN’ narrative, which has gained interest from venture capitalists.’
(With inputs from Shikha Singh)
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