Akash Network (AKT) saw a significant price increase of 12% on Thursday, positioning itself as the second-highest gainer after Book of Meme (BOME). While BOME led the top 100 gainers by market cap with a 24-hour gain of over 14%, AKT reached highs of $3.45. Among AI-related tokens, AKT outperformed others, with only Render (RNDR) and The Graph (GRT) also showing gains.

In contrast, other AI and Big Data cryptocurrencies such as SingularityNET, Fetch.ai, and Ocean Protocol, which are set to merge under the Artificial Superintelligence Alliance (ASI), experienced declines of more than 10% at the time of writing. AKT’s all-time high was $8.07 in April 2021, and it reached $6.22 on March 10, 2024, amid a surge linked to an Upbit listing in April, peaking at $6.03 before correcting.

Akash Network Price Increase Amid RenAIssance Hackathon

The broader crypto market saw a modest increase of 1%, reaching about $2.29 trillion. However, Akash Network defied this trend with its double-digit gain. The announcement that Crypto.com now supports AKT staking with rewards of up to 19% contributed to the positive sentiment around the cryptocurrency.

Another significant development came on June 25 when the Akash team announced a collaboration with Flock, a platform for decentralized AI model training. This partnership allows AKT holders to participate in an open and collaborative ecosystem, contributing data and computing resources for on-chain rewards.

The RenAIssance Hackathon offers substantial rewards in AKT, USDC, and Flock’s native token FML. The top three models in the hackathon will earn:

  • First place: 400 USDC and $400 worth of AKT
  • Second place: 300 USDC and $300 worth of AKT
  • Third place: 200 USDC and $200 worth of AKT

Participants also have the opportunity to win 200 USDC and $200 worth of AKT for being top validators.

Explore more updates and news on Global Crypto News.

Post Views: 4