Analyzing Akash Network Navigating the Nuances of a DeFi Contender

Estimated read time 4 min read

Here, the Akash Network with its token AKT offers a great example of the capabilities and the prospects of decentralized finance platforms. The current value of the small coin is $4. 15, It illuminates the multifaceted relationship of a crypto asset that merges technology with pecuniary profit, making it an exhaustive case study for any cryptocurrency scholar.

Akash Network currently occupies the 83rd place in the cryptocurrency market with a market capitalization of $986,935,549. The positioning signifies a fairly sizable, but relatively specific, demand for the token amongst financiers and users interested specifically in the DeFi and cloud computing spheres. Based on the data, AKT’s price has been on the rise in the period of the last 24 hours by 0 percent. 3% and attribute around 95 % to steady and sustainable demand which is prevalent in the market rather than sentiments which often drive spikes in demand associated with the other cryptocurrencies.

One interesting factor regarding the marketing performance of Akash Network is that its trade volume has increased by 43%. What increase did it have in the last day, what is the total amount: The stock increased in value by 45% in the last day and reached more than $10 million. This might reflect an increased activity level that is caused by new information or developments, modification of existing information, or changing investors’ sentiments. This value is currently around 1, and the basic indicator for a cryptocurrency analyst is the volume-to-market capitalization ratio. 01%, is particularly noteworthy. This ratio is generally used to calculate liquidity and sometimes it shows how fluidily one can trade a token in the market without much affecting its value.

Akash Network Coin 24-Hour Price Chart

Another supply-side factor that deserves consideration for analysis includes the following metrics of AKT. The circulating supply is around 239000000. According to the analysis, the company has circulated tokens of 94 million tokens with about 61. The founding team holds the same amount of tokens, i.e. 75% of the total token supply which is fixed at 239. 94 million AKT. Nevertheless, the maximum quantity is established at 388. Surprisingly, there are still 54 million AKT yet to hit the market, therefore there is potential as yet unexplored. This supply structure is particularly important because changes to it affect inflation/deflation rates which may influence the token’s price fluctuations.

Based on an assumed fully diluted Akash Network market cap if all the coins are in circulation the current circulating supply value amounts to over $1. 6 billion showing the possibilities of more tokens, increasing the market value disproportionately based on this aspect. This is a very essential factor when investing or analyzing a token as it gives the intelligence of the future performance of the token where the market situation remains constant.

Defining the importance of Akash Network, it’s possible to state that this service yields decentralized cloud computing which is crucial in today’s world, where individuality, data ownership, and security are the major concerns. In addition to backing the token indirectly, it puts its value in synergy with long-term trends in technology. Akash’s fundamental attributes also have to be considered alongside these aspects of market speculation by the cryptocurrency analysts who have to take all these elements into consideration to be able to provide a wide perspective on this matter.

In conclusion, the position of a cryptocurrency analyst helps to dissect the intricacies of a token or an application like the Ak 气 Sense Utility Token (AKT). They need to consider several factors such as market capitalization, changes in volume, supply information, and many other considerations related to the general economy and to the technological aspect. This approach is helpful in developing hypotheses in addressing those prospects and possible dangers that may be experienced while investing in such digital assets.

Graco P

Graco P is an esteemed cryptocurrency journalist with over nine years of experience. Specializing in blockchain technology, his incisive analyses help demystify complex crypto trends. Graco's work appears in top financial publications, and he holds an Economics degree from the University of Chicago.

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