The decentralized cloud computing altcoin has surged 44% since completing its mainnet upgrade on May 2.
Akash Network (AKT) is trading at $5.76, up from around $4.00 before launching its “Mainnet 11” version earlier this month.
The 73rd-largest cryptocurrency asset by market capitalization is also up nearly 35% in the past seven days alone.
Akash Network is a decentralized open source cloud network that supports decentralized finance (DeFi) applications and organizations, as well as machine learning, blockchain, and artificial intelligence (AI).
project Called The new upgrade improves the management and tracking of approved AKTs and simplifies the approval process for deployment.
House of Chimera, a blockchain research company, note Akash Network has seen a surge in ecosystem growth in the first quarter of this year, recording more than $140,000 in revenue in the first quarter of 2023, compared to $100,000 in the fourth quarter of 2023 and less than $20,000 in the third quarter.
Describe the company,
“Increased interest in DePin coupled with increased developer demand has led to increased use of AKT.”
DePin stands for Decentralized Physical Infrastructure. The DePIN project involves using cryptocurrency assets and blockchain technology to encourage the construction of real-world infrastructure.
Despite the recent gains, AKT remains down nearly 29% from its all-time high of $.According to CoinGecko, version 8.07 is set for April 2021.
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