Akash Network (AKT) Leads Crypto Top 100 With 46% Rise Today: Here’s Why By Orbit Brain April 23, 2024 0 11 views Amidst a relatively quiet altcoin market, Akash Community (AKT) has emerged as immediately’s standout performer among the many prime 100 cryptocurrencies by market capitalization, recording a major 46% improve in value over the previous 24 hours. This surge has propelled AKT to the forefront, nicely forward of its friends reminiscent of Core (CORE) and Arweave (AR), which posted features of seven% and 6%, respectively.As of this writing, AKT is buying and selling at $6.03. This improve in value has pushed its market cap to roughly $1.Four billion, positioning it because the 68th-largest cryptocurrency. Moreover, Akash Community’s buying and selling quantity has seen a dramatic rise of two,790%, reaching $116 million immediately.Earlier immediately, AKT reached a brand new all-time excessive of $6.84 on the cryptocurrency alternate Kraken, although it has since adjusted to round $6.03, beneath its earlier peak of $6.49.Catalysts For The Akash Community SurgeThe first driver behind immediately’s value escalation seems to be an announcement from Upbit, a serious South Korean cryptocurrency alternate. Upbit has confirmed that it’ll listing AKT, providing buying and selling pairs in South Korean Received (KRW), Bitcoin (BTC), and Tether (USDT) beginning at 10:00 UTC immediately.Associated Studying: Akash Who? Lesser-Recognized Altcoin Guidelines Weekend’s Prime 100 Record With 40% RallyAdditional fueling investor curiosity, information from Santiment, a market intelligence platform, reveals that Akash Community’s social media quantity has spiked by 200% within the final 24 hours. This surge in social exercise, predominantly on platforms like Reddit and Bitcointalk, has performed a major position in AKT’s market efficiency.Future Value TrajectoryTrying forward, if AKT’s value can file a every day shut above the earlier all-time excessive of $6.49 (set on March 11, 2024) immediately, the following goal may very well be $7.46, akin to the 1.272 Fibonacci extension of the overarching value motion. Ought to the shopping for stress proceed, a transfer in the direction of $8.64, marked by the 1.618 Fibonacci extension, may be on the horizon. Right here, merchants ought to anticipate potential profit-taking.A breakthrough past this degree might pave the best way to medium-term targets at $10.92 (2.272 Fibonacci extension) and doubtlessly even $12.13 (2.618 Fibonacci projection), contingent on continued bullish sentiment throughout the broader crypto market.Associated Studying: AI Crypto Tokens Like Render, WorldCoin Are ‘Overvalued’: Coinbase AnalysisConversely, if AKT fails to uphold its new highs and closes beneath $6.48, a downward correction in the direction of the $5.74 zone (0.786 Fibonacci degree) might happen, the place new shopping for alternatives would possibly come up. An extra dip beneath this degree might see retests of the $5.16 (0.618 Fibonacci degree) and $4.75 (0.5 Fibonacci degree) help zones.The trajectory of AKT, like that of many cryptocurrencies, may very well be influenced by broader market situations, together with potential downturns triggered by accelerating US inflation, the US Fed’s favourite inflation gauge, the Private Consumption Expenditures Value Index (PCE) is about for launch on Friday, April 26, or different macroeconomic elements.Nonetheless, the 200-day exponential transferring common (EMA), at the moment at $3.24, stays probably the most vital long-term help degree for AKT.Featured picture from MetaNews, chart from TradigView.comDisclaimer: The article is offered for academic functions solely. It doesn’t characterize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You might be suggested to conduct your personal analysis earlier than making any funding selections. Use data offered on this web site solely at your personal threat.Share this:FacebookXPrintEmailLinkedInRedditTwitterTumblrPinterestTelegramWhatsApp Orbit Brainhttps://orbitbrain.com/ Orbit Brain is the senior science writer and technology expert. Our aim provides the best information about technology and web development designing SEO graphics designing video animation tutorials and how to use software easy waysand much more. Like Best Service Latest Technology, Information Technology, Personal Tech Blogs, Technology Blog Topics, Technology Blogs For Students, Futurism Blog.
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