An overlooked altcoin has challenged the crypto market after igniting its own uptrend and posting huge gains this week.
Akash Network (AKT) is a decentralized open source cloud network that supports decentralized finance (DeFi) applications and organizations, as well as machine learning, blockchain and artificial intelligence (AI).
The project’s native token, AKT, rose from its weekly low of $0.319 to $0.462, gaining more than 44%.
Akash Network’s price increase is a project made from the announcement then it came. The team behind the altcoin reported that it is working on AI tests on its own testnet:
“The Akash GPU Testnet has wrapped up an incredible week of progress. Multiple leading AI models were tested on an Nvidia A100 via the Akash GPU Testnet, bringing Akash one step closer to creating the AI Supercloud.”
Nvidia A100 is a high-power graphics processing unit (GPU).
The above announcement increased interest in Akash Network in the crypto community and contributed to the rise of AKT’s value. Investors can increase their confidence in AKT by appreciating the altcoin project’s innovative approach and integration with artificial intelligence technology. Artificial intelligence has the potential to add unprecedented power and efficiency to Akash Network’s decentralized cloud network.
Akash Network founder Greg Osuri reported last week that the testnet now hosts AI applications:
“Akash GPU Testnet now hosts great AI applications such as AutoGPT, BabyAGI and Stable Diffusion and seamlessly leverages a decentralized GPU market.
This is the first instance where an Open Source Supercloud can host Open Source AI.”
You can follow the current price action here.