The Akash Network (AKT) surged over again because the platform gained investor interest within the decentralized cloud computing scene. Based on Coingecko, the token is up 20% since last week because the fear, uncertainty, and doubt the market experienced died down.
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The platform is slowly expanding its operations with latest additions to Akash that can profit each investors and Akash service consumers alike. Together with the market’s general bullishness, plainly AKT will see tremendous growth in the long run.
Network Utility Reaches Almost Half As Renters Double
August tenth revealed that the platform’s GPU utility rate has reached over 43% as renters of Akash GPUs increased. In an interview on Bare Metal Podcast, Akash Founder Greg Osuri said that the standard customers of the network are mostly smaller firms with no access to high computing power.
Utility rate at @akashnet_ is currently 📸: 43% .
It’s moderately consistent, so who’s renting from them? 🤔@gregosuri gives us a touch: funded non-crypto firms that can’t get access to generalized GPU compute anywhere else.$AKT guarantees access to its market’s resources. pic.twitter.com/0pbu8zktPd
— Akash Alpha (@akashalpha_) August 9, 2024
“All of those firms…how hard it’s for them to get on-demand access for A100s. When you don’t have 100 million dollars in your checking account and usually are not funded by Amazon, Google, or Microsoft, it’s unattainable to get high-density computing power,” Osuri stated.
The A100 is one in all NVIDIA’s top-of-the-line data-center GPUs specifically built for machine learning applications. With a market price of $10,000, small firms that usually are not heavily funded could have difficulties in obtaining this vital piece of hardware for data-related needs. Based on Osuri, the largest selling point of Akash is its open access.
AKT is currently trading at $2.7. Chart: TradingView
“So today, in case you’re an organization attempting to get GPUs, it’s unattainable,” Osuri said, highlighting the problem firms experience acquiring big assets just like the A100 GPUs which can be essential for data-heavy workloads.
On this sense, Akash succeeded in providing access to high-density computing power to small enterprises. A fast have a look at Akash’s website reveals that A100 renting prices are only $2.08 per hour with the bottom being $0.75. This provides an edge against its competitors in the identical area of interest as its aggressive pricing gives small firms the perfect bang for his or her buck by way of computing power.
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Can This Growth Boost Akash Network More?
AKT is experiencing high price growth pressure because the network’s utility grows, putting them within the limelight. With the token’s current position, we would see a return to $3 in the long term as more consumers use the platform.
Nonetheless, AKT’s correlation with the broader market might hurt the token in the long run. Nonetheless, the market is continuous its gradual upward movement, giving investors and traders confidence within the long-term performance of the token.
Featured image from Verizon, chart from TradingView