The Akash Network (AKT) has surged again as the platform has gained investor interest in the decentralized cloud computing scene. According to CoingeckoCompared to last week, the token’s value has increased by 20% as the fear, uncertainty, and doubts felt by the market have subsided.
The platform is slowly expanding its operations with modern additions to Akash that will benefit both investors and consumers of Akash services. With the overall market bullishness, it seems that AKT will see a huge growth in the long term.
Network usage nearly halves as tenant count doubles
August 10 revealed that the platform’s GPU usability rate has reached over 43% as the number of Akash GPU tenants has increased. interview In a talk on the Bare Metal podcast, Akash founder Greg Osuri said the network’s typical customers are mostly smaller businesses that don’t have access to a lot of computing power.
Usage rate @akashnet_ is currently 📸: 43%.
That’s pretty consistent, so who rents from them? 🤔@gregosuri gives us a clue: non-cryptocurrency companies that can’t access general-purpose GPU computing anywhere else are being funded.$ACT guarantees access to the resources of its market. photo:twitter.com/0pbu8zktPd— Akash Alpha (@akashalpha_) August 9, 2024
“All these companies… how hard is it for them to get on-demand access to the A100. Unless you have a hundred million dollars in your bank account and you have funding from Amazon, Google or Microsoft, you can’t get high-density computing power,” Osuri said.
This A100 is one of NVIDIA’s best data center GPUs, specifically designed for machine learning applications. With market priced at $10,000, compact businesses that aren’t well-funded may have a tough time getting this crucial piece of hardware for their data needs. According to Osuri, Akash’s biggest selling point is its open access.
“That’s why today, if you’re a company trying to acquire GPUs, it’s impossible,” Osuri said, underscoring the difficulty companies face in acquiring gigantic assets like the A100 GPUs that are indispensable for data-intensive workloads.
In this sense, Akash has succeeded in providing access to high-density computing power to compact businesses. A quick look at the Akash website reveals that the A100 rental prices are as low as $2.08 per hour, with the lowest being $0.75. This gives it an edge over its competitors in the same niche as the aggressive pricing provides compact businesses with the best value for money in terms of computing power.
Could this growth further strengthen the Akash network?
AKT is facing upward price pressures resulting from growing network usability, which is putting it in the spotlight. Given the current position of the token, we may see a return to the $3 price in the long term as more and more consumers utilize the platform.
However, AKT’s correlation with the broader market could hurt the token in the long run. However market continues its gradual upward movement, which gives investors and traders confidence in the long-term performance of the token.
Featured image from Verizon, chart from TradingView
