The past week saw Overclocked Labs’ decentralized finance (DeFi) altcoin, Akash Network, significantly surpassing the total market capital of cryptos in light of deploying the testnet of its Stable Payments feature. By settling payments in USDC, Circle’s stablecoin, AKT rocketed from an August 6th price of $0.577 to its August 11th peak of $1.17, displaying a 102% maximizing grant.
The magnificent transaction allowed traders to state their payments in the safe currency of U.S Dollar along with providing assistance with the norm associated with experiencing difficulty to procure AKT through the network. Jeremy Allaire, Circle’s chief executive giving out utterances to applaud contributions to the notably decentralized cloud infrastructure.
Tap into the mind of Akash Networks’ by testing their reflexes by including artificial intelligence (AI) and machine leaning in the portrayal back in May that it now possesses and the assets pricing dramatically resonated with the procedure. The use of USD extends determinant in creating potential use cases like trading which wouldn’t likely exist standing on AKT alone.
The current rate of AKT being traded is $1.12, handsomely tripling the rise in only a weeks’ span.
