Akash Network surges 12%, leading AI tokens bounce

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As a researcher with a background in artificial intelligence and blockchain technology, I find the recent price surge of Akash Network (AKT) intriguing. With a personal experience in observing market trends and analyzing the underlying fundamentals of various projects, I believe that the current gain is not merely due to market sentiment or random luck.

As a crypto investor, I observed an impressive 12% surge in Akash Network’s (AKT) price last Thursday. Interestingly enough, it outperformed other digital assets and came in at the number two spot among the day’s top performers, just behind Book of Meme (BOME).

Among the top 100 cryptocurrencies by market capitalization, BOME saw a remarkable 24-hour growth of more than 14%. Meanwhile, AKT reached new peaks at $3.45. In the realm of AI and Big Data tokens, BOME outperformed its peers, with RNDR and GRT being the only other coins posting gains.

As a researcher studying the blockchain sector, I’ve noticed that SingularityNET, Fetch.ai, and Ocean Protocol – three companies preparing for a merger under the Artificial Superintelligence Alliance (ASI) – experienced significant price drops exceeding 10% at the time of my observation.

The all-time high for AKT was $8.07 reached in April 2021.

In the ongoing market trend, the value of cryptocurrency reached its highest point at $6.22 on March 10, 2024. Following this peak, an upward surge took place due to the listing on Upbit in April, causing AKT‘s price to surpass $6.03. However, subsequent gains were corrected. (As a market analyst, I have observed that during this market cycle, the cryptocurrency attained its maximum value at $6.22 on March 10, 2024. The listing on Upbit in April instigated a surge, pushing AKT’s price above $6.03. Yet, these gains were subsequently adjusted.)

Akash Network price up amid RenAIssance Hackathon

As a market analyst, I observed that the overall cryptocurrency market experienced a modest 1% increase, bringing its value to approximately $2.29 trillion. However, Akash Network stood out as an exception, registering impressive double-digit growth.

In addition to the news that Akash Network’s AKT tokens can now be staked on Crypto.com with potential rewards of up to 19%, there may be optimistic feelings towards Akash Network arising from another significant event within the crypto community.

I’m thrilled to share that on June 25, the Akash team announced an exciting partnership with Flock – a decentralized platform dedicated to training artificial intelligence (AI) models. This collaboration is expected to bring significant advancements to the blockchain ecosystem, and as a crypto investor, I’m eager to see how this collaboration will unfold and contribute to the growth of both projects.

As aanalyst with FLock.io, I can tell you that by holding AKT tokens, you become an active member in our open and interactive platform. Here, you have the opportunity to engage in the development of models through collaboration. In return, you’ll be compensated with on-chain rewards for your contributions. Furthermore, users are also welcome to share their data and computing resources to earn more AKT tokens.

At the RenAIssance Hackathon, you can win rewards in AKT, USDC, and Flock’s native token, FML. The top three models will be recognized with the following prizes:

Participants also stand to win 200 USDC and $200 worth of AKT for winning validators.

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2024-06-27 20:20