Decentralized cloud computing altcoins are surging after South Korea’s largest cryptocurrency exchange announced support for the digital asset.
Akash Network (AKT) surged from a low of $4 to a high of $6.74 on Tuesday after cryptocurrency exchange Upbit announced support.
As of this writing, AKT has retreated slightly to $5.30 and its market capitalization remains at $1.2 billion.
Akash Network is a decentralized, open-source cloud network that powers decentralized finance (DeFi) applications and organizations, as well as machine learning, blockchain, and AI.
Last month, AKT was listed for trading on Coinbase, the leading U.S. cryptocurrency exchange, after being included in the platform’s listing roadmap in February.
project developer team presentation The summit was held in Austin, Texas on Monday, May 28th.
“Get ready for Akash Accelerate ’24. This will be the first full-day Akash Summit, bringing the entire community together for an agenda of presentations and panels from some of the brightest minds in the decentralized AI space.”
Akash is built using the Cosmos (ATOM) software development kit (SDK) and implemented on the Cosmos blockchain. Akash aims to serve as a decentralized cloud computing marketplace by pooling and reallocating unused computing processing power to customers who need it.
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us TwitterFacebook, Telegram
Daily Hodl Mix Surfing
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
Featured image: Shutterstock/Peshkova