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SirWin
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SirWin

Akash Network price surges amid high social dominance

akash-network-price-surges-amid-high-social-dominance
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Akash Network price surges amid high social dominance

The token of decentralized cloud computing provider Akash Network (AKT) has been consistently rising over the past two weeks as its token’s social dominance skyrockets.

AKT is up by $138% over the past 30 days and trading at $1.51 at the time of writing. The massive surge comes while data provided by Santiment shows high volatility for the asset.

Akash Network price surges amid high social dominance - 1
AKT price, volatility and social dominance – Aug. 22 | Source: Santiment

Moreover, according to data from the market intelligence platform, AKT’s monthly price volatility has reached an 11-week high of 0.37. The last time the token’s volatility touched the 0.39 level was in early June.

The AKT’s price volatility hike comes with the asset’s high daily trading volume — rising by almost 40% and currently standing at $5.45 million.

On the other hand, Akash Network’s social dominance has been constantly surging over the past two weeks. According to Santiment, AKT’s social dominance has risen by around 600% since Aug. 8.

Per the market intelligence platform, this is the first time in 32 months that AKT’s social dominance reached 0.41%.

The so-called “supercloud” provider’s native token registered 10.6% gains over the past 24 hours with a market capitalization of $328 million.

It’s important to note that AKT is the top gainer among the top 100 crypto assets in four different timelines — past 24 hours, past week, past month, and past 60 days.