AKS Token Weekly Analysis And Price Prediction

This article will analyze the AKS token according to www.coinmarketcap.com data. First, we will discuss the AKS token and its projects and make technical and graphic analyses. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.

What is AKS Token?

Akash Network (AKT) is a cryptocurrency project that aims to create an open, decentralized cloud computing marketplace. The Akash Network protocol leverages blockchain technology and smart contracts to enable users to buy and sell unused computing resources securely and trustless .

The AKT token is the native cryptocurrency of the Akash Network platform. It serves as a medium of exchange for buying and selling computational power on the network. It incentivizes node operators who offer unused computing power via the staking mechanism

One unique feature of this platform is its focus on leveraging idle capacity from existing hardware infrastructure, such as laptops or servers which are not being utilized at total capacity, thereby creating an eco-friendly alternative to traditional data centers .

Akash Network’s goal is to provide an alternative solution for individuals or enterprises seeking affordable cloud hosting options while also delivering better privacy/security features than centralized providers through decentralization .

What are the projects of AKS?

Akash Network (AKT) has several projects and initiatives aimed at promoting its vision of a decentralized cloud computing marketplace. Here are some of the key ones:

Akash Deploy: This web-based interface allows users to deploy their applications on the Akash Network with just a few clicks. It provides an easy-to-use dashboard for managing your deployments, monitoring resources and more .

Akashian Challenge:  A global hackathon event that invites developers from around the world to build innovative solutions on top of the Akash Network platform. The competition offers cash prizes as well as opportunities for mentorship and networking among industry experts

Stargate : An upcoming major upgrade to the Akash Network protocol will introduce new features, such as support for Ethereum Virtual Machine (EVM) smart contracts enabling greater interoperability with other blockchain networks .

AKT staking : Users can stake their AKT tokens in order to earn rewards by participating in network validation activities or becoming node operators who provide computational resources to customers using the network .

Factors Influencing AKS Price

Like any other cryptocurrency, the price of Akash Network (AKT) token can be influenced by a variety of factors. Here are some key factors that may impact its price :

Market demand : The law of supply and demand is one of the most fundamental forces driving prices in any market including cryptocurrencies like AKT. If there is high demand for AKT tokens from investors or users seeking to utilize the Akash network, this will likely drive up its price .

Adoption : As more applications are deployed on the Akash Network platform, and more users begin to utilize its services, this could increase adoption and awareness of the AKT token which could have a positive effect on its value

Competition:  There are several other blockchain-based cloud computing platforms competing with Akash Network, such as Golem, iExec RLC, etc.; therefore, competition may have an impact on adoption rate as well as pricing .

Partnerships & collaborations : Successful partnerships with established players in the tech industry could help raise awareness about Akash Network’s potential within the cloud computing space, leading to increased adoption rates resulting in higher valuation over time

Technological development :  Advancements made towards protocol upgrades, such as the Stargate upgrade mentioned earlier, could lead to better security features or enhanced capabilities, further incentivizing new developers to join the ecosystem, thereby boosting long-term growth prospects for AKT token .

AKS COİN TECHNICAL ANALYSIS

After seeing its historical high of $ 8.4880 in April 2021, AKS dropped 98% by the end of 2022, down to $ 0.1696. Although it went up to $ 0.7800 with the purchases in the market in  May 2023, it is currently trading at $ 0.6581. According to www.coinmarketcap.com data, AKS has a size of $75,197,984 and has had a volume of $1,664,567 in the last twenty-four hours .

AKS Token Chart Analysis

From April 2021 to the end of 2022, the AKS token lost 98% of its value, falling from $8,4880 to $0.1696. The AKT token which immediately started to rise at the beginning of 2023, is struggling to break the $0.6639 resistance up, as can be seen from the chart. The weekly support zone for Aks toke will continue to rise if it breaks this resistance up, is $0.4520, while the weekly resistance zone is currently $0.6639 .

This article does not certain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding. This article does not include investment advice or suggestions. Every investment and trading move involves risk, and readers should perform their analysis when determining.

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