Akash

AKT, the native token of Akash Network, has recently emerged as a significant gainer in the cryptocurrency market, particularly after securing a perpetual listing on Binance Futures. On November 19, the token surged by 35%, reaching a six-month high of $4.66, which elevated its market capitalization to over $1 billion. This remarkable increase has allowed AKT to re-enter the top 100 cryptocurrencies by market cap, currently holding the 99th position. The trading volume for AKT also saw an astronomical rise of 2500% in just one day, exceeding $368.1 million, indicating a robust interest from traders and investors alike. The price increase can be attributed to Binance Futures' announcement of the AKTUSDT Perpetual Contract, which allows traders to leverage their positions up to 75x. This has attracted many traders looking for high-risk, high-reward opportunities. Additionally, rumors surrounding potential changes in U.S. capital gains tax policies, particularly those that could benefit cryptocurrencies issued by U.S. companies, have further fueled interest in AKT. As Akash Network aims to revolutionize cloud computing through decentralized, blockchain-based solutions, the AKT token is expected to play a crucial role in its ecosystem. Despite the excitement within the AKT community, analysts are cautioning about a potential price correction. TraderSteve_, a pseudo-anonymous analyst, highlighted that AKT might encounter selling pressure at the resistance level of $4.732, a threshold it has struggled to surpass in the past. While the current indicators suggest that AKT is overbought, with a Relative Strength Index reading of 76, the long-term outlook remains positive, with speculations that the token could eventually reach as high as $28. However, it is essential for investors to remain vigilant as the market dynamics evolve.

The Akash Network (AKT) is currently making headlines as it approaches a significant milestone in the cryptocurrency market. Trading at around $4, AKT is nearing a billion-dollar market cap with a current valuation of $994 million. Over the past week, the altcoin has experienced a remarkable surge of nearly 50%, igniting discussions about its potential to reach a new 52-week high of $8.31. Analysts are closely monitoring the price action, particularly after a notable breakout from a falling wedge pattern, which has resulted in a 100% return from its previous low of $2. Technical indicators suggest a strong bullish momentum for AKT. The price has surpassed the 50% Fibonacci retracement level at $3.60 and is currently trading above the 200-day exponential moving average (EMA). This bullish trend is further supported by the potential for a golden crossover between the 200-day EMA and the 50-day EMA. Recent trading sessions have shown a significant intraday surge of 22.73%, forming a bullish engulfing candle that indicates strong buying pressure. The MACD indicator also reflects this positive trend, marking the third consecutive week of bullish momentum, which raises expectations for continued upward movement. Looking ahead, if the Akash Network maintains its current trajectory, analysts predict that the price could reach $6.19, paving the way for a potential breakthrough above the $6.85 mark. Fibonacci projections suggest that if this level is surpassed, AKT could aim for targets of $8.31 and even $12.09. While the bullish sentiment is strong, experts caution that minor corrections could occur, providing opportunities for consolidation before further upward movements. Overall, the Akash Network's future appears promising as it gains traction in the cryptocurrency space.

The cryptocurrency market is witnessing a significant surge, particularly in altcoins, as the total market cap, excluding Bitcoin and Ethereum, has surpassed $750 billion. Among the standout performers are Akash Network, Cronos, and Render, each showing promising price movements and potential buying opportunities. Investors are keenly observing these tokens as they navigate through their respective bullish trends, indicating a robust interest in altcoin investments. Starting with Akash Network (AKT), the token has demonstrated a strong breakout from a falling channel, currently trading at $3.30 after a notable 12.11% intraday gain. This rally has propelled AKT to a 52% increase over the past week, surpassing the 38.20% Fibonacci retracement level. Analysts suggest that the price could extend towards the psychological mark of $5, with a long-term target at $12, indicating a potential upside of over 250%. This positions Akash Network as a compelling option for investors looking for growth. Cronos (CRO) has also made headlines with a remarkable 60% price increase in just two days, following a 72% recovery last week. Currently priced at $0.1195, it is nearing the critical psychological level of $0.20. The token is challenging the 23.60% Fibonacci level at $0.2152, with expectations of a bullish breakout that could push the price to $0.40, representing an upside potential of more than 100%. Meanwhile, Render (RNDR) is trading at $7.33, having surpassed the $7 mark with a 75% price jump. Analysts predict that it could reach new highs above $13.27, showcasing an upside potential of over 80%. These developments highlight the dynamic nature of the altcoin market and the opportunities it presents for investors.

**Regulators Acknowledge Benefits of Decentralized Physical Infrastructure Networks (DePIN)** Regulators have recognized the unique advantages brought by decentralized physical infrastructure networks (DePIN), as stated by Greg Osuri, the founder of Akash, a DePIN protocol. Osuri aims to persuade regulators that DePIN should be supervised differently from other crypto sectors. A recent meeting with a key staffer from the U.S. House committee overseeing commerce and trade was described as 'productive' by Osuri. Akash and competitor InFlux Technologies have joined forces to establish a DePIN and Web3 advocacy group to create a regulatory framework for the sector. Advocates of DePIN emphasize the real-world value these projects offer by granting users control over physical infrastructure networks using blockchain technology. Alvaro Garcia from Borderless Capital highlighted that DePIN projects stand out from traditional crypto ventures as their value is derived from outside the crypto sector. Osuri echoed this sentiment, mentioning that regulators are taking notice of DePIN's disruptive potential in mainstream markets. VCs like Borderless Capital have shown interest in DePIN, with a recent $100 million fund dedicated to the sector, investing in projects like Helium and GEODNET. Osuri argues for a distinct regulatory approach for DePIN compared to sectors like DeFi. Akash and InFlux Technologies have formed an advocacy group to educate regulators on the unique value proposition of DePIN. Osuri stressed the importance of differentiating DePIN from other crypto sectors in regulatory discussions to ensure lawmakers understand its distinct characteristics and benefits. Despite utilizing crypto features, Osuri believes that emphasizing the advantages of DePIN is more crucial than focusing on the 'crypto' aspect.

**Decentralized Physical Infrastructure Networks (DePINs)** DePINs have emerged as a critical part of the blockchain industry, disrupting traditional infrastructure models in data storage, computing power, and connectivity. The market cap for DePIN projects is estimated at $20 billion, attracting investments from top venture capital firms like Andreessen Horowitz and Binance Labs. Projects such as IoTeX and Akash Network are successfully onboarding contributors to their decentralized networks, with IoTeX having over 100,000 connected devices and Akash Network boasting more than 50,000 contributors for decentralized cloud computing. The potential for DePIN to transform markets like the Internet of Things (IoT) is significant, especially with the IoT market projected to reach $500 billion. DePIN, short for 'decentralized physical infrastructure networks,' utilizes blockchain to maintain networks of physical hardware, offering solutions in various applications like sensors, wireless infrastructure, and energy grids. By incentivizing peer-to-peer hardware infrastructure through cryptocurrency tokenomics, DePIN projects are gaining traction in sectors like road mapping, telecommunications, and data storage.

InFlux Technologies (Flux) and Akash Network have partnered to establish a DePIN advocacy group aimed at addressing regulatory clarity and government commitment to the decentralized technology sector. This collaboration seeks to promote education, industry awareness, and engagement with government agencies, lawmakers, and regulators. CEO and Co-founder of InFlux Technologies, Daniel Keller, emphasized the importance of creating regulatory frameworks that balance consumer protection with the transformative potential of decentralized technologies. The partnership between Flux and Akash Network is crucial for fostering growth and integrity in the Web3 and DePIN ecosystem. Akash Network, known as the 'Airbnb for data centers,' is a key player in decentralized computing services, offering computing resources through a secure marketplace. On the other hand, Flux provides decentralized cloud solutions for Web3, DePIN, and AI, bridging the infrastructural gap and enabling easier access to computing resources for developers and enterprises. By collaborating, Flux and Akash Network aim to influence U.S. regulations, propose industry-specific frameworks, and promote innovation and consumer interests within the blockchain sector.