The post Akash Network (AKT) Price Rose 30%: Can It Break the Bearish Spell? appeared on BitcoinEthereumNews.com.

The Akash Network Price has soared nearly 30% higher from July 5th onwards on the daily chart. The broader market started showing a bullish presence in correlation to BTC after July 5th.  In the intraday session, the AKT market cap increased 7.85%, a whopping $843.558 Million. It has ranked 74th in the top 100 coins, according to CoinMarketCap ranking at press time. Derivatives Volume & OI Witnessed Surge The open interest in derivatives has surged 44.70%, with a total OI amounting to $1.54 million. It means that more contracts are opened in the market of AKT derivatives. AKT Volume | Source: Coinglass Similarly, the derivatives volume has also witnessed a massive 92.89% increase, amounting to $2.78 Million. When writing, AKT’s 24-hour trading volume on all major platforms has reached $23.60 Million, with a 46.02% increase. The liquidity could be a point of concern, as it could show less stable markets. The ratio between volume and market cap stood at 2.80% in 24 hours. Furthermore, its volatility stands at 8.35%, which predicts higher chances of uncertain fluctuations in AKT. The FDV has declined 16.4% in the past 30 days, which resulted in $1.30 Billion. Meanwhile, AKT’s market cap dominance is 0.04% in the global crypto verse. Overall, per its tokenomics, out of its 244.084 Million AKT max supply, 62.30% quantity floats in the people’s hands. Besides, its maximum supply has been limited to $388.53 Million AKT. What Does the AKT Price Structure Highlight in the Daily Time Frame?  The AKT/USD on Coinbase opened at $5.50 on March 19th, 2024. The current price has traded nearly 37% down, and from the peak generated of $6.90 on April 23rd, AKT traded nearly 50% down.  While it attained its lowest on the chart on June 18th, 2024, at $2.434, and from this low, the…

---

Filed under: News - @ July 14, 2024 3:10 pm