An under-the-radar altcoin is defying a wobbly crypto market after igniting its own uptrend and printing sizeable 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, blockchains and artificial intelligence (AI).
The project’s native token, AKT, surged from a weekly low of $0.319 to a high of $0.462, marking gains of more than 44%.
Akash Network’s price jump happened this week as the project worked on artificial intelligence testing on its testnet.
Explains the project’s Twitter account,
“The Akash GPU Testnet has completed 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…
All of this effort leads to the Incentivized Akash GPU Testnet, which will bring in the community to provide GPU compute, deploy and benchmark models, and create deployment specs – while earning rewards for participating.”
An Nvidia A100 is a high-powered graphics processing unit (GPU).
Akash Network founder Greg Osuri noted last week that the testnet is now hosting AI apps.
“Akash GPU Testnet now hosts amazing AI apps like AutoGPT, BabyAGI, and Stable Diffusion, flawlessly leveraging a decentralized GPU market.
This is the first instance an Opensource Supercloud can host Opensource AI.
When the mainnet launches in a few weeks, it’s not difficult to understand why there is a chance we’ll run out of GPUs with the current levels of demand to run these models.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney