It is well known that listings by Coinbase have had significant effects on cryptocurrencies from the past to the present. Listings by major exchanges are thought to have positive effects on altcoins by providing them with volume and recognition. Just moments ago, Coinbase announced that it would list a new project.
Akash Network (AKT) Gets Listed
The recent announcement by Coinbase during a period when Bitcoin appeared stable has turned attention to Akash Network. The announcement stated that Akash Network (AKT) would be listed on the exchange.
The announcement was as follows:
Coinbase will add support for Akash Network (AKT) on the Akash network. Do not send this asset over other networks, or you may lose your funds. Transfers for this asset are available in regions where trading is supported at @Coinbase & @CoinbaseExch. Trading is expected to begin around 12 PM (ET) on March 19, 2024, if liquidity conditions are met. Once a sufficient supply of this asset is established, trading will be progressively initiated in our AKT-USD trading pairs. AKT support may be restricted in certain regions.
According to the announcement, AKT transactions on the Coinbase exchange will begin at 7 PM Turkey time on March 19, 2024. Following the announcement, there was a clear rise in the price of AKT.
What is the Price of Akash Network (AKT)?
The price of AKT jumped immediately after the announcement, soaring from $5.3 to over $6.1. This represented an increase of nearly 20%, a significant surge during a time when the focus was on Solana and meme coins.
On the other hand, the market cap of AKT also rose following the news, surpassing $1.3 billion. This rise placed it at the 81st position in the market cap rankings.
Lastly, after the news, attention turned to AKT’s 24-hour trading volume. The market volume increased by 20% to $16 million, indicating a sudden shift in investor interest towards the altcoin.
