Decentralized cloud computing altcoins are soaring after South Korea's largest cryptocurrency exchange announced support for digital assets.
Akash Network (AKT) soared from a low of $4 to a high of $6.74 on Tuesday, a gain of over 68% after cryptocurrency exchange Upbit announced support.
At the time of writing, AKT has fallen slightly to $5.30, with a market cap of $1.2 billion.
Akash Network is a decentralized open-source cloud network that supports decentralized finance (DeFi) applications and organizations, machine learning, blockchain, and AI.
AKT was listed for trading on top US cryptocurrency exchange Coinbase last month after being listed on the platform's listing roadmap in February.
Project developer team announced The summit will be held in Austin, Texas on Monday, May 28th.
“Get ready for Akash Accelerate '24. This will be the first full-time Akash Summit, bringing the entire community together for an agenda packed with presentations and panels from some of the brightest minds in decentralized AI.”
Akash was built using the Cosmos (ATOM) software development kit (SDK) and implemented on the Cosmos blockchain. Akash aims to function as a decentralized cloud computing marketplace by pooling unused computing power and reallocating it to customers who need it.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me twitterFacebook and Telegram
Surf the Daily Hoddle Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Peshkova
