Key Takeaways:
- Altcoins are on the rise with the total market capitalization exceeding $750 billion for them excluding Ethereum.
- The ATK token surged 34.69% in the last 7 days following an increase in trading activity and positive market sentiment.
- The community sentiment of the coin shows a “Bullish” trend with the Fear & Greed Index showing 83 indicating “Extreme Greed”.
AKT, the native token of the Akash Network, has surged above 34% in the last 7 days. The Akash Network (AKT) is a decentralized, open-source cloud computing marketplace. It aims to provide cost-effective and more flexible services through a Proof-of-Stake (PoS) blockchain. In this article, we will discuss the coin’s sudden surge in the market, the various factors that influenced this run, and also how the coin will fare in the market in the coming days.
AKT Current Market Standing
In just the last 24 hours, the AKT coin has surged by $22.85% and is now trading at $4.14. The coin is currently #88 based on its current market capitalization which now stands at $936.60 million. The coin’s bullish trend in the market began on the 10th of this month with the US presidential election and was boosted as Trump emerged victorious. At that time, the coin was trading at $2.5244. From there, the value of the coin skyrocketed in a short period of time.
In the last seven days, the coin has registered a growth rate of 41.71%. In addition, the trading volume of the coin in the last 24 hours has grown by 2560.55%. This is a huge increase. If the market trend continues to favor the coin in the coming days, we will see the coin soaring in the market.
Factors Influencing The AKT Outbreak
The crypto market has witnessed significant growth in the past week, especially in the altcoins. The altcoins excluding Ethereum have surpassed nearly $750 billion in the market. One of the key performers that contributed to this growth was the AKT token. The token has registered a strong breakout from a downward trend.
This outbreak has attracted the attention of a lot of investors to the coin. This, in turn, resulted in a tremendous increase in the trading volume of the coin to a great extent. As the trading volume of a coin increases, it is normal for the coin’s market value to shoot up. This rally has propelled the coin to a price surge of 31.89% in the last 7 days.
With strong momentum, technical breakout patterns, and increased adoption of the Akash Network, the coin may gain further traction in the market in the coming days.
AKT Price Prediction: What To Expect In The Coming Years
Now that we looked into the coin’s current standing in the market and the factors that influenced its growth, let’s delve into its future. For this, we have put together a price prediction table for the coin. You can refer to it to gain insight into the token’s future.
| Year | Min Price | Avg Price | Max Price | Possible ROI |
|---|---|---|---|---|
| 2024 | $ 3.64 | $ 0.624445 | $ 3.83 | 7.64% |
| 2025 | $ 3.87 | $ 5.74 | $ 8.40 | 102.39% |
| 2026 | $ 3.30 | $ 3.64 | $ 5.06 | 21.79% |
| 2027 | $ 3.32 | $ 3.75 | $ 5.03 | 21.15% |
| 2028 | $ 4.67 | $ 5.73 | $ 7.65 | 83.66% |
| 2029 | $ 5.89 | $ 9.99 | $ 15.87 | 280.06% |
| 2030 | $ 4.58 | $ 5.32 | $ 8.48 | 103.29% |
Note that the above-given prices are susceptible to changes in market trends and may vary accordingly.
Is It a Good Time To Buy The AKT Token?
The overall community sentiment of the Akash Network Token is indicating a “Bullish” trend. According to the opinions of various expert analysts in the market, the coin’s value is expected to drop by 0.9% and reach $3.73 by the end of the first half of December. The coin has recorded 18/30 days to be trading in green with a price volatility of 12.99% based on the records of the past 30 days.
The Fear & Greed Index of the coin shows a value of 83 indicating “Extreme Greed”. Based on this forecast, it is a good time to start trading with the ATK token. However, you should keep in mind that the crypto market is an extremely volatile place where anything can happen at a moment’s notice. So, it would be better if you conduct thorough research on the market trends before proceeding with the investment.
The live price of AKT for the day is $4.14 (at the time of the article’s writing) indicating a rise of 22.85% from the previous day.