Akash Network (AKT) Becomes One of the Top Gainers This Tuesday as Crypto Investor Sentiment Runs High

Akash Network (AKT) becomes one of the top gainers this Tuesday as crypto investor sentiment runs high. In the past 24 hours, the top Decentralized Physical Infrastructure Network (DePIN) token's price catapulted by 31% from a $3.57 low to a $4.71 high.

Akash Network (AKT) price became one of the most profitable cryptocurrencies with an increase of 1 with the interest it received in the last 24 hours. As of 6:00 PM UTC, the DePIN token still managed to maintain 100% of its gains and its price remained at $4.19. This occurred with a transaction volume increase of �% as approximately $304.75 million of Akash Network (AKT) tokens moved between decentralized wallet addresses. Subsequent price movements brought the market value of the digital asset to $1.04 billion, based on a circulating supply of 248.29 million.

Longer time frames also confirm the bullish trend for Akash Network (AKT). So far it has increased by more than 0 in a week, d in a month and 9 in a year.

Despite its recent performance, Akash Network's token still has a long way to go to reach its all-time high of $8.08 four years ago. Currently its price is below those levels.

Still, there is a lot of hope that AKT will make a significant recovery in this bull cycle and even surpass its record level.

Akash Network's token leverages multiple uses of its underlying technology. The DePIN framework primarily offers a more affordable option for cloud services, which can reduce storage and operating costs for business and individual users. In addition, its solutions can be scaled according to the demands of its customers.

Beyond its strong fundamentals, Binance has expanded its futures market to add AKTUSDT and BANUSDT perpetual contracts. The world's largest cryptocurrency exchange launched the new services at 11:30 AM UTC on Monday. What makes it very attractive is its leverage of up to 75x, which comes as an ideal proposition for investors or traders with high risk appetite.

Also, AKT's price is currently experiencing high investor interest in the crypto market. Apart from very high trading volume, the indicator of the Crypto Fear and Greed Index comes into the "Extreme Greed" zone at the 90 level. This shows that consensus is becoming very aggressive as FOMO (fear of missing out) influences people's trading decisions.

However, this should be seen as a warning sign because such emotional overreactions usually herald an impending correction in the short term. Peak prices may mean that there is not much time left for early investors to cash out their profits at the expense of new market participants.

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