The value of Akash Network (AKT) has surged again as the platform gains investor interest in the decentralized cloud computing landscape. According to quinjicoThe token has risen 20% since last week as fear, uncertainty and doubts that plagued the market recede.
Related reading
The platform is slowly expanding its operations with new additions to Akash which will benefit investors and consumers of Akash services alike. Coupled with the general optimism in the market, AKT looks set for massive growth in the long run.
Utility network nearly halves as tenants double
August 10 open The platform’s GPU utilization rate has reached over 43% as the number of Akash GPU tenants increases. interview On the Bare Metal Podcast, Akash founder Greg Osori said that the network’s typical customers are mostly small businesses that don’t have access to high computing power.
Interest rate at @akashnet_ Currently stands at 📸: 43%.
It’s pretty consistent, so who hires from them? 🤔@gregosuri It gives us a hint: non-crypto-funded companies that don’t have access to public GPU computing anywhere else.Act Ensure access to its market resources. pic.twitter.com/0pbu8zktPd– Akash Alpha (@akashalpha_) August 9, 2024
“All these companies… how difficult it is for them to get on-demand access to A100s. If you don’t have a hundred million dollars in your bank account and you’re not funded by Amazon or Google or Microsoft, it’s impossible to get high-density computing power,” Ossori said.
the A100 This card is one of NVIDIA’s best data center GPUs designed specifically for machine learning applications. market At $10,000, small businesses without deep pockets may struggle to get this important piece of hardware to meet their data needs. According to Usuri, the biggest selling point of Akash is its open access.
“Today, if you’re a company trying to get GPUs, it’s impossible,” Ossori said, highlighting the difficulty companies face in getting large assets like the A100 GPUs that are essential for data-heavy workloads.
In this sense, Aakash has succeeded in providing access to high-density computing power to small businesses. A quick look at Aakash’s website reveals that the A100 rental rates are just $2.08 per hour, with the lowest being $0.75. This gives it an edge over its competitors in the same space, as its competitive pricing gives small businesses the best value for their money in terms of computing power.
Related reading
Could this growth further strengthen the Akash Network?
AKT is facing significant pressure due to price growth as the network’s utility grows, putting it in the spotlight. Given the current state of the token, we may see a return to $3 in the long run as more consumers use the platform.
However, AKT’s correlation to the broader market could hurt the token in the long run. However, market The cryptocurrency price continues its gradual upward movement, giving investors and traders confidence in the long-term performance of the token.
Featured image from Verizon, chart from TradingView