Decentralized Cloud Coin Surges After Mainnet Upgrade

Akash Network (AKT), a decentralized cloud computing coin, has jumped 44% since completing its “Mainnet 11” upgrade on May 2nd. It’s currently trading at $5.76, up from $4.00 before the upgrade.

Key Features of the Upgrade

The upgrade enhanced AKT management, tracking, and grant processes for deployments. It also supports decentralized finance (DeFi), machine learning, and artificial intelligence (AI).

Ecosystem Growth

According to House of Chimera, Akash Network saw a surge in ecosystem growth in Q1 2023, with over $140,000 in revenue, compared to $100,000 in Q4 2023 and $20,000 in Q3 2023.

Despite Recent Gains, Room for Growth

AKT remains about 29% below its all-time high of $8.07, set in April 2021.