The native token of Akash Network, AKT, has skyrocketed as the top gainer among the top 100 cryptocurrencies following its listing on South Korea's premier exchange, Upbit.
Key Highlights of AKT's Performance
- Price Surge: AKT surged 48% in 24 hours, reaching $6.03 at press time.
- Market Cap: Jumped to $1.4 billion, ranking AKT as the 65th-largest crypto asset.
- Trading Volume: Spiked by 1,560%, hitting $65 million in daily transactions.
Despite this rally, AKT remains 23% below its all-time high of $8.08 (April 2021).
Upbit Listing Details
👉 Upbit officially announced AKT trading support with KRW, BTC, and USDT pairs starting April 23, 10:00 UTC.
Market Sentiment and Indicators
- Social Volume: Increased 200%, driven by discussions on Reddit and Bitcointalk.
- RSI Movement: Rose from 47 to 49, indicating balanced valuation (neither overbought nor oversold).
Interpreting the RSI
- RSI > 70: Signals overbought conditions, potentially triggering volatility.
- RSI < 50: Suggests sustained bullish momentum if maintained.
FAQ Section
Q: Why did AKT’s price surge suddenly?
A: The Upbit listing announcement sparked investor demand, amplifying trading volume and social engagement.
Q: Is AKT overvalued after this rally?
A: The RSI (49) shows AKT remains fairly valued without extreme overbought pressure.
Q: What’s next for AKT’s price?
A: If the RSI holds below 50 and trading volume stays high, the bullish trend may continue.
👉 For real-time crypto insights, explore trending tokens here.
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