Akash Network (AKT) surges 48% following Upbit listing

The native token of Akash Network, AKT, has emerged as the top gainer among the leading 100 assets after South Korea’s leading exchange announced to list the token.

AKT is up by 48% in the past 24 hours and is trading at $6.03 at the time of writing. The asset’s market cap surged to $1.4 billion, making it the 65th-largest cryptocurrency. Moreover, Akash Network’s daily trading volume increased by 1,560%, reaching $65 million. 

Despite the recent price rally, AKT is still down by 23% from its all-time high of $8.08 in April 2021.

AKT’s price surge comes as the leading crypto exchange in South Korea, Upbit, announced to list the asset with KRW, BTC and USDT trading pairs. 

Per the announcement, Upbit will start supporting AKT trading at 10:00 UTC on April 23.

According to data provided by Santiment, Akash Network’s social volume increased by 200% over the past 24 hours. Most of the social activity around AKT comes from Reddit and Bitcointalk, per the market intelligence platform.

Notably, the AKT Relative Strength Index (RSI) witnessed a hike from 47 to 49, according to data from Santiment. The indicator shows that AKT is still in good condition — neither under nor overvalued — despite the price rally.

An RSI of over 70 would show that AKT is over-bought and could potentially lead to high price volatility. If the RSI stays below the 50 mark, the asset could witness a steady bullish momentum.