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Akash Network (AKT) 24H Price Analysis: Riding the Wave of Crypto.com Staking and Grayscale Recognition As It Surges by 13.23%

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Crypto.com, a leading cryptocurrency exchange, has made a significant announcement that has propelled Akash Network (AKT) to become one of the top gainers in the crypto space over the last 24 hours. By adding AKT to their staking options, Crypto.com enables users to earn up to 19% in rewards, thereby driving the token’s remarkable run.

This development has ignited a surge of interest in Akash Network as investors flock to capitalize on the lucrative staking opportunities. Earning such high yields on their AKT holdings has undoubtedly fueled the token’s bullish momentum, driving its price up by 13.23% in the last 24 hours.

Source: AKT 24-hour Chart (CMC)

Grayscale Research Top 20 Listing Adds to AKT’s Allure

Akash Network’s upward momentum gets a further boost as it earns a spot in Grayscale Research’s coveted Top 20 list for Q3 2024, reinforcing the growing optimism and confidence in its potential for growth. This recognition from Grayscale, a prominent digital asset management firm, carries significant weight and further solidifies AKT’s position as a high-potential cryptocurrency.

The Grayscale Research Top 20 is a curated list of tokens that the firm believes have the potential to outperform the market in the upcoming quarter. The selection process thoroughly analyses factors, including upcoming catalysts, trending market themes, and token-specific fundamentals.

Akash Network’s inclusion in this prestigious list showcases its strong fundamentals and demonstrates Grayscale’s confidence in its prospects. Grayscale selectively chooses assets with high potential for its investments. This endorsement from a respected industry leader will likely attract more attention and investment in AKT, further fueling its price appreciation.

Impressive Trading Volume and Market Cap

As a result of the recent developments, Akash Network’s price has surged to $3.69, with a 24-hour trading volume of $96,403,857. This represents a remarkable 110.26% increase in trading volume over the last 24 hours, indicating a significant uptick in investor interest and market activity.

Moreover, Akash Network’s current CoinMarketCap ranking is #76, with a market cap of $894,390,519. This impressive market capitalization underscores the growing recognition and adoption of the Akash Network platform, which provides a decentralized cloud computing solution.

Overall, the combination of Crypto.com’s staking offering, Grayscale’s recognition, and the impressive trading volume and market cap has propelled Akash Network (AKT) to the forefront of the crypto market. Investors and enthusiasts closely watch the token’s performance as it demonstrates its potential as a high-growth investment opportunity.

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