The AKT token surged over 50% in the last 24 hours after trading around $4 for the past week, reaching around $7 on the South Korean exchange Upbit.
Akash Network, using Cosmos SDK on Cosmos blockchain, provides a decentralized cloud computing platform connecting server owners and cloud resources for buying and selling computing power.
Akash Network hosted the 'Akash summit' focusing on decentralized AI applications, marking its importance in the broader 'DePIN' narrative of decentralized hardware for AI needs.
Venture capitalists like Anand Iyer see the potential in Akash Network and Ritual leading the way in decentralized hardware utilization beyond crypto, particularly for AI requirements.
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