invezz.com
16 March 2026 20:24, UTC
Akash Network ($AKT) has been rallying sharply, fueled by optimism surrounding its upcoming network upgrade.
This upgrade, known as the Burn-Mint Equilibrium (BME), is set to go live on March 23, 2026 and represents a major shift in how the Akash blockchain handles token supply and utility.
The BME upgrade aims to introduce a mechanism where $AKT used to pay for network services is burned to mint compute credits and later re-minted to providers.
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This change ties the token supply directly to real usage of the network, creating a deflationary effect.
Essentially, higher network usage increases $AKT demand as tokens are burned for compute credits before being re-minted to providers..
At the same time, the upgrade will enable smart contracts on the Akash platform using WebAssembly (WASM).
This opens the door for developers to build decentralised applications and automated services directly on Akash.
The combination of supply reduction and enhanced functionality positions $AKT for potentially sustained demand.
Traders are also noting the strong social sentiment surrounding this upgrade, which has been building steadily in recent weeks.
Community enthusiasm has been high, with bullish sentiment consistently trending above 80%.
The anticipation of a functional, more versatile network has placed Akash among the top rebounding altcoins in the market.
The BME upgrade has already started to influence supply dynamics, with recent data showing that the number of tokens actively moving in the network has been declining, signaling a tighter supply.
This, combined with growing network utility, suggests that $AKT is no longer simply a speculative token but one tied closely to actual demand.
Technical analysis points to a breakout from a multi-month wedge pattern that formed in mid-2025.
This pattern has historically acted as a consolidation phase, and breaking above it is often a strong bullish signal.
Currently, the $AKT price has surged past this wedge, with buyers showing clear dominance.
Short-term targets suggest that $AKT could reach around $1 if the $0.60 resistance zone is decisively cleared.
Beyond this, an extended rally could push the price toward $2, representing the upper boundary of the previous consolidation wedge.
The momentum is further supported by the ongoing network upgrade, which could sustain positive sentiment and trading activity.
However, traders should also remain mindful of volatility, especially as exchanges temporarily suspend deposits and withdrawals during the upgrade.
This could create short-term fluctuations but is unlikely to derail the overall bullish trend if adoption and usage continue to rise.
