Akash Network, a revolutionary cloud computing platform utilizing blockchain technology, has disrupted conventional cloud services. It offers an open-source decentralized marketplace for cloud computing, enabling secure and efficient buying and selling of computing resources. Supporting infrastructure as Code, users can deploy and manage infrastructure using code on Akash Network.

Akash Network is renowned for its community-driven approach and a suite of development tools. Recently, the core development team organized the network’s inaugural full-day summit focused on decentralized AI growth, bringing together bright minds in decentralized computing.

The network has witnessed a decline in overall compute and storage, with platforms like Brev.dev integrating with Akash Network to enhance AI development capabilities. On-chain analytics indicate a decrease in disk storage leased in a decentralized manner by Akash Network. The GPU availability ranges from $1.5 to $3 per hour.

The inflation rate of AKT stands at 18.98%, with a staking APR of 21%. AKT is trading around $3.83, experiencing a 10% drop in the intraday session. The token has a market cap of $850 million, ranking 91st in the crypto market, with 61.8% of its total supply circulating.

With a bearish price trend, AKT is trading in a parallel channel below the 50 and 100 EMA lines. The RSI indicates a bearish sentiment with a value near 27. Despite the decline in daily active providers and leased storage, AKT’s inflation rate and staking APY have increased.

Analysts suggest a potential future high for AKT, although trading or investing in cryptocurrency assets carries financial risks. The article provides information for reference purposes only, and does not constitute investment advice.