Akash Network

<p>Akash Network’s native token AKT has surged following Binance’s announcement of perpetual contracts, with multiple analysts highlighting strong technical signals and fundamental growth.</p> 
<p>The token has demonstrated impressive performance across all timeframes, with gains of 25% in 24 hours and 187.6% yearly.</p> 
<h2 class="wp-block-heading" id="h-binance-acts-as-a-catalyst-for-akt-s-surge"><strong>Binance Acts as a Catalyst for AKT’s Surge</strong></h2> 
<p>Binance Futures announced the launch of AKT perpetual contracts scheduled for November 18, 2024, at 11:30 UTC. </p> 
<p>This development has sparked increased trading activity and market interest, contributing to the token’s significant price appreciation.</p> 
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   Source: X
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<p>According to analyst Winkle, the Binance listing represents “a major win for the Akash Network community,” suggesting increased accessibility will drive further price appreciation.</p> 
<h2 class="wp-block-heading" id="h-akt-surges-25-in-24-hours"><strong>AKT Surges 25% in 24 Hours</strong></h2> 
<p>The token’s performance shows remarkable strength across multiple timeframes:</p> 
<ul class="wp-block-list"> 
 <li>24-hour gain: 25%</li> 
 <li>Weekly increase: 38.3%</li> 
 <li>Monthly appreciation: 68.3%</li> 
 <li>Yearly return: 187.6%</li> 
</ul> 
<p>AKT is currently trading between $3.59 and $4.66 while establishing a weekly range of $2.89 to $4.57. Despite the recent surge, the token remains 46.8% below its all-time high of $8.07 set in April 2021.</p> 
<p>Analyst Costa’s technical analysis highlights several bullish indicators, including the 20-day EMA crossing above the 40-day EMA. </p> 
<p>The critical resistance level of $3.25 has been decisively broken, with strong volume supporting the breakout. </p> 
<p>TraderSteve predicts further upside, suggesting a target of $28 despite potential near-term selling pressure at the $1 billion market cap level.</p> 
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  <img loading="lazy" decoding="async" width="614" height="984" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-487.png" alt="" class="wp-image-840779" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-487.png 614w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-487-187x300.png 187w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-487-150x240.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-487-300x481.png 300w" sizes="auto, (max-width: 614px) 100vw, 614px">
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   Source: X
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<h2 class="wp-block-heading" id="h-akash-network-shows-strong-fundamental-growth"><strong>Akash Network Shows Strong Fundamental Growth</strong></h2> 
<p>The Akash Network has demonstrated strong fundamental growth, with the platform reporting 639 high-end GPUs onboard and an impressive utilization rate exceeding 70%. </p> 
<p>This high utilization rate suggests robust demand for the network’s decentralized computing resources.</p> 
<p>The recent price action has been accompanied by significant volume increases, indicating genuine market interest rather than speculative activity. </p> 
<p>The successful break above the $3.25 resistance level, coupled with sustained trading volume, suggests the potential for continued upward momentum.</p> 
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   Source: X
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<p>The Binance futures listing represents a key milestone for institutional access to AKT trading. This development could attract more sophisticated traders and institutional capital to the ecosystem, potentially driving further price appreciation and market stability.</p> 
<p>While analysts maintain bullish projections, with targets as high as $28, the market structure suggests potential consolidation phases during the upward movement. </p> 
<p>The combination of strong fundamentals, increasing institutional access, and technical breakouts provides multiple catalysts for continued price appreciation.</p> 
<p>The confluence of Binance’s futures listing, strong network metrics, and technical breakouts positions AKT for potential continued growth. </p> 
<p>However, investors should note TraderSteve’s caution about possible selling pressure near the $1 billion market cap level before the projected move toward $28.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/11/20/akash-network-soars-25-following-binance-news-28-in-sight/">Akash Network Soars 25% Following Binance News, $28 In Sight?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Akash Network Soars 25% Following Binance News, $28 In Sight?

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