Akash Network token AKT has risen more than 14% in the past 24 hours. This rebound occurred after Bitcoin rose in tandem, indicating a recovery in market risk appetite, and some more volatile altcoins also followed suit.
Despite a significant improvement in prices and trading volume, on-chain data has not fully recovered. The rebound in developer activity, transaction fees, and revenue indicates a recovery in network usage; however, whether a broader upward trend will form depends on whether prices and activity can be sustained.
Prices have returned above previous support levels.
AKT had been trading sideways between $0.436 and $0.526 for over a month before breaking upwards and briefly reaching $0.960. The original resistance level of $0.526 then became a support level, serving as a key support point for this rebound.
Trading activity also improved. The cumulative volume difference (CVD) rebounded from -1.74 million AKT, briefly rising above 337,000 during the day, indicating that buying pressure had regained control after sustained selling pressure.
From a short-term momentum perspective, the MACD on the 4-hour chart turned positive for the first time in June, and the signal line also crossed upwards simultaneously, indicating that the momentum has strengthened during the price rebound.
Trading volume doubled in two days
On-chain and transaction data show a pattern of "price recovery and indicator divergence." Over the past two days, AKT token trading volume has nearly doubled, rising from $8.38 million to $16.25 million. Monthly trading volume has also increased by 54%, reaching $414 million.
Developer activity has also rebounded. Over the past month, code commits have increased by approximately 20%, rising to about 269. For public blockchains or decentralized networks, this typically signifies a recovery in maintenance and iteration pace.
Fees and revenue continued to rise
According to DeFiLlama data, Akash Network's transaction fee revenue continued to grow around mid-May, peaking at $7,858, with daily revenue rising to $5,186.
Rising transaction fees and revenue typically indicate that internet usage remains relatively stable. This aligns with the rebound in development activity and suggests that this rally is not entirely driven by price sentiment.
However, from a price structure perspective, AKT needs to regain the $0.70 to $0.75 range to further confirm the strength of its recovery. If it fails to recover this area for an extended period, the current rebound is more likely to be seen as a temporary correction rather than a larger-scale trend reversal.
