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South Korean crypto exchange Upbit has announced the recent listing of Akash Network (AKT)
Following the listing, the price of AKT has seen an impressive price surge, which has seen its price reach a three-year high.
Akash Network Rallies Into the Top 100
Akash Network (AKT), the decentralized cloud computing marketplace, has soared into the top 100 cryptocurrencies by market capitalization following its latest listing on a prominent crypto exchange.
The platform, which allows for the trade of computing resources such as CPU, GPU, and memory, has seen a significant uptick in activity with the introduction of KRW, BTC, and USDT market support.
Following the listing on South Korea’s leading crypto exchange, Upbit, AKT climbed over 50% – reaching $7. The impressive price action sees AKT currently ranked 75 by market capitalization, surpassing the $1 billion mark. The market capitalization for AKT currently sits at $1.4 billion, with $95 million in daily transaction volume.
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South Korean exchange listings have once again shown the strength of the Asian community.
“The price action of Akash AKT just showed us exactly how powerful South Korean exchange listings are.” Coin Bureau confirmed.
The recent listing by Upbit also included Big Time (BIGTIME). Big Time is a Free-to-play multiplayer RPG action game set in a pre-destruction world that aims to build an ecosystem based on a user-centered game economy.
BIGTIME also saw an impressive price increase following the Upbit listing. The price is up 6.57% on the day following a strong retracement after the initial listing price surge.
AKT Price Analysis: Rally Captures Market Attention
AKT has registered a striking performance, surging with a 50.36% increase, a significant move spotlighted in recent price analysis charts. Trading activity illustrates AKT’s remarkable ascent to $6.13, propelling the cryptocurrency into the spotlight amidst market watchers.
The displayed candlestick formation on the daily chart signals robust buying interest, thrusting the price past previous resistance levels. The Relative Strength Index (RSI), a measure of market momentum, has spiked yet remains below the typical overbought territory, suggesting that the climb could be sustained without immediate concerns of overextension.
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This uptrend in AKT’s market price reflects growing investor enthusiasm, spurred by the recent Upbit exchange listing and the increasing traction of decentralized cloud computing services.
The current price action could see some consolidation around $6.13 if support holds. This previous resistance level has only been reached twice since September 2021.
Following its recent breakout of this level, it can retest and hold. The price could push to its next resistance level. Ultimately, this would give AKT the chance to reclaim its all-time high and possibly push further.