The price of Akash Network’s native token, AKT, has increased 18.47% in the past 24 hours. The token has hit $3.68 from a low of $3.10. This rally comes after this major crypto exchange made a major announcement regarding AKT.
Crypto.com Introduces AKT Staking with Attractive Rewards
One of the key reasons for AKT’s price surge appears to be the announcement from Crypto.com. The exchange has revealed that AKT is now available for staking on their platform. The exchange also mentioned that users can earn up to 19% in rewards.
$AKT is now available for on-chain Staking in the Crypto․com App!Start staking to secure your favourite blockchain while earning up to 19% rewards Enjoy the flexibility of unstaking your assets in a secure and convenient manner.@akashnet_ pic.twitter.com/RuSrAi6gwa
— Crypto.com (@cryptocom) June 27, 2024
Grayscale Research Recognizes AKT’s Potential
Adding to the bullish sentiment, analyst Journeyto24 has highlighted that AKT has been mentioned in the Grayscale Research Top 20 for Q3 2024. This recognition from Grayscale, a prominent digital asset management firm, carries significant weight.
The Grayscale Research Top 20 is a curated list of high-potential tokens for the upcoming quarter. The selection process involves consideration of various factors, including:
Upcoming catalysts
Trending market themes
Token-specific fundamentals
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Show more +Show less – Technical Analysis Points to Further Upside
Crypto analyst Decilizer provides a bullish technical outlook for AKT. The analyst notes that the token is currently experiencing a strong upward trend, having established solid support at $2.8. This support level, combined with high trading activity, is allowing AKT to consistently move towards the analyst’s target of $5.4.
Decilizer also draws attention to AKT’s performance in past rallies, where the token has achieved gains of up to 17x. While past performance doesn’t guarantee future results, this historical context provides an interesting point of view.
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The post Here’s Why Akash Network (AKT) Price is Pumping appeared first on CaptainAltcoin.
