A popular crypto analyst and trader says he’s accumulating a new crypto asset in large numbers.
The pseudonymous crypto strategist, known in the industry as Altcoin Psycho, explains to his 83,700 Twitter followers why he’s bullish on Akash Network (AKT).
“I’ve got my new favorite altcoin.
AKT – Akash Network
1) Live main net w/ thriving dev network
2) US, dox’d team
3) Cosmos
I’ve been quietly accumulating HEAVY. Firmly believe this will be a top 100 project. Look at the team, you’ll see why I’m bullish.”
Built on the Cosmos hub, the Akash Network aims to disrupt the cloud computing industry, which is dominated by Amazon Web Services, Microsoft Azure, and Google Cloud.
To achieve its vision, the project plans to leverage the cloud capacity of millions of data centers to create the world’s first decentralized cloud computing marketplace.
Akash Network says it could help developers reduce their cloud computing costs by a factor of 10 while compute providers can raise their earnings by up to 4x.
AKT, Akash Network’s native asset, serves as the protocol’s governance token. Holders can also stake the token to help keep the network secure in exchange for rewards.
Akash Network’s advisory group features former BitGo chief executive Will O’Brien and former Blockfolio lead architect Brandon Goldman.
AKT has more than doubled in price in the last seven days, soaring from $0.77 to $1.55 today, according to CoinGecko.
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