Akash Network (AKT) surged 12% on Thursday, ranking second behind Book of Meme (BOME) among top gainers. BOME led with a 14% gain, while AKT peaked at $3.45, outperforming other AI-related tokens like Render (RNDR) and The Graph (GRT).
AKT’s all-time high was $8.07 in April 2021, and it reached $6.22 in March 2024. The current surge is linked to the RenAIssance Hackathon and a new partnership with Flock, which allows AKT holders to train AI models for on-chain rewards.
The broader crypto market rose by just 1%, but Akash Network’s gains were driven by positive announcements, including support from Crypto.com for AKT staking with up to 19% rewards.
The RenAIssance Hackathon offers significant rewards in AKT, USDC, and FLock tokens, incentivizing participation in AI model training and validation. This event underscores Akash Network’s strategic focus on decentralized AI development.
