Akash Network (AKT) Token Experienced a Major Price Recovery in the Past 24 Hours

The Akash Network token experienced a major price recovery in the past 24 hours leading up to Sunday. During this period, AKT went from a $2.52 low to a

Akash (AKT) price has experienced a significant increase in the last 24 hours. From Saturday to Sunday, AKT rose from $2.52 to $3, representing a price increase of almost 19 percent. As of 05:00, AKT was trading at $2.90, a daily increase of almost 16 percent.

When the graphics were extended to the seven-day frame, it was seen that AKT recovered by more than 18 percent. While it decreased by 16 percent in one month, it increased by more than 191 percent in one year.

Akash's recent price movement caused the market value of its 247.81 million tokens to rise to approximately $729.67 million. Additionally, transaction volume reached a peak of 345 percent, with $28.85 million of cryptocurrency moving between addresses during the day.

AKT reached its all-time high of $8.08 in April 2021. At current prices, it still needs to gain 63 percent to reach its record high.

The Rise of DePINs

Despite AKT's recent short-term price fluctuations, investors remain bullish on the Akash Network for the long term. This is because this year is marked as a turning point in decentralized physical infrastructure networks (DePIN).

Basically, the DePIN platform paves the way for a new infrastructure organization. It provides a decentralized ecosystem for data storage by distributing it through nodes of storage points within a blockchain. It also offers a tokenized approach to reward the creation of fully decentralized infrastructures.

According to Forbes Councils Member Hugo Feiler, DePINs are still in their infancy. But they have the potential to transform digital and physical spaces in the next five years.

DePINs have many advantages in data management and accessibility, as stated in a recent study by the Communication Systems Group of the University of Zurich and the Acurast Association. The group found that the decentralized platform has the potential to unlock improved performance, power efficiency, and better security on complex and compute-intensive tasks.

The Akash protocol ties into this narrative perfectly due to its focus on DePIN projects. The market value of DePIN coins is currently $18.76 billion and has great potential to rise even further in the coming years.

Artificial Intelligence and Akash

The trend involving artificial intelligence tends to overshadow many crypto projects. However, the same does not apply to artificial intelligence-related tokens.

Akash may not be directly tied to AI, but the marketplace gets its share of the hype. Large AI projects essentially need massive computing power to run. Again, the challenges created by this demand are where the solutions offered by Akash come in handy.

According to Akash Network founder Greg Osuri, one of the key features of their ecosystem is that they can provide high-density GPUs on demand at a fraction of the cost. They can also activate the service in seconds.

In a way, this fact creates a symbiotic relationship between the AI ​​and Akash.

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