In the current AI tokenization wave that has seen positive acceptance in the cryptocurrency realm, Akash Network has today captured the trading markets after a bullish signal dominated the Coinbase trading platform.
This surge comes after the Coinbase Assets X platform released its inclusion of AKT in its trading and exchange platform earlier last month. This remarkable acceptance has led to the asset reaching the top 100 crypto boomers by market evaluation, competing with titans like Bitcoin and Ethereum.
“Coinbase will add support for Akash Network (AKT) on the Akash network. Do not send this asset over other networks, or your funds may be lost. Transfers for this asset are available on Coinbase and CoinbaseExch in the regions where trading is supported,” the statement reads.
This release comes after an earlier release by Coinbase Assets of its AKT-USD launch, which was to begin on March 19, 2024, when liquidity conditions were met by the network.
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“Trading will begin on March 19, 2024, at or around noon ET if liquidity conditions are met. Once a sufficient supply of this asset is established, trading on our AKT-USD trading pairs will launch in phases. Support for AKT may be restricted in some supported jurisdictions.”
Akash token experienced a significant rise in value in November from its $1.5 value to all-time highs of $6.45, which have not been seen after creating an upper resistance, according to an analysis by coinmarketcap.
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Akash receives recognition
The founder of the Akash network, Greg Osuri, on his X account sent a shoutout to Coindesk for including the asset in its recent publication. The publication referred to companies and protocols like Akash Network as pacesetters who could see more players utilizing decentralized networks for non-crypto use cases.
“Companies and protocols like Akash Network and Ritual are leading the way here, and we expect to see more players leveraging decentralized networks for non-crypto use cases,” the article stated.
With the digital asset trading above the 200 Simple Moving Average, analysts see a breach past the $3 level to levels past the $4.93 price if the 50-day SMA is crossed.
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The AI token has accumulated a YTD of 63.57%, according to a publication made by CoinPedia News, a bullish sentiment caused by trading activity influx in the asset. With Akash utility provided by its cloud computing resources, there is hope that its innovative structure will see the asset see higher highs amid the awaited Bitcoin halving set to commence later this month.
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Maina Lewis
I'm a crypto enthusiast with a passion for breaking down complex blockchain concepts into clear, engaging content. Fueled by curiosity, I'm constantly researching the latest crypto trends and developments to keep readers informed and excited about the ever-evolving digital landscape. Whether you're a seasoned crypto investor or just starting your journey, I aim to empower you with the knowledge to navigate this dynamic frontier.