Major participant in the distributed cloud computing space, Akash Network saw a notable increase in its native token, AKT, which ranks among the top 100 cryptocurrencies.
AKT commands a trade value of over $4.48 per coin as of the most recent update; it maintains a 9% rise over the past 24 hours. Its daily trade volume surged by 495% throughout this time, landing at $51.7 million. Especially, the market value of the crypto asset shot to $1.07 billion, therefore confirming its status as the 76th-largest cryptocurrency.
From its top value of $7.41, set on April 8, 2021, AKT is still down by 40%. Notwithstanding this latest surge. The rise in AKT’s price corresponds with Akash Network’s first full-day conference, Akash Accelerate, which focused on the spread of distributed artificial intelligence (DeAI) and permissionless computing.
Austin Event Highlights Akash Network Growth
Held in Austin, Texas, the event drew many participants from the distributed computing space, so illuminating the network’s growth and the expanding ecosystem of projects, companies, and protocols connected with it. Emphasizing the advantages of using Akash’s Supercloud for high-performance computing, the summit displayed key partnerships and talks.
Leading artificial intelligence companies like Nous Research, Brev.dev, and Morpheus as well as distinguished universities like the University of Texas at Austin actively attended the summit exploring the pragmatic consequences of distributed infrastructues.
For example, the University of Texas at Austin uses Akash’s distributed architecture to provide academics with access to high-performance GPUs vital for artificial intelligence research, therefore avoiding the restrictions and outrageous fees connected with established cloud providers.
Furthermore, the event revealed, via CEO Greg Osiri’s keynote speech, Akash’s development road map for the next years. Aimed at strengthening Akash’s infrastructure and therefore supporting its position in the distributed cloud market, Osuri further discussed the strategic direction and expected improvements to his platform.
This revealing underlined Akash’s dedication to scalability and service improvement, therefore helping to explain the rebirth of investor excitement and hope in AKT.
The rise in Akash Network’s value corresponds with a more general slump in the global bitcoin market, which dropped its market capitalization to $2.45 trillion by 3% Currently priced at $67,206, the flagship cryptocurrency, Bitcoin too saw a similar decline.
