Akash Network’s AKT rallies by 54% today as Algotech’s presale approaches $4m
TL;DR
AKT is the best performer amongst the top 100 cryptocurrencies by market cap today, adding 54% to its value.
Algotech’s presale is approaching the $4 million mark as more investors troop into the project.
AKT leads the market charge
The cryptocurrency market has been performing well since the Bitcoin halving on Friday. However, Akash Network’s AKT token leads the charge after performing excellently over the last few days.
AKT is up by 54% in the last 24 hours, outperforming the other major cryptocurrencies by market cap. At press time, AKT is trading at $6.24, up by 75% over the last seven days.
Akash Network’s rally comes after the token was listed on Upbit, a leading South Korean cryptocurrency exchange. The crypto exchange added USDT and Korean won trading pairs for AKT.
What is Algotech?
Algotech continues to generate steam amongst investors as its presale is approaching a key milestone. The project is developing a cutting-edge decentralized algorithmic trading platform designed specifically for the fast-paced world of cryptocurrency trading.
Algotech targets retail traders and will provide them with advanced algorithms and machine-learning features. The project is bringing AI features to retail traders with the intention of eliminating the limitations and challenges associated with manual trading.
Algotech’s unique AI features
Algotech seeks to take advantage of the growing volume in the cryptocurrency market to help traders achieve their trading goals. Thanks to the launch of Bitcoin ETFs, large institutions are coming into the market, which means there is more liquidity now than in the past.
As the trading volumes increase, crypto traders need to develop their edge to make a profit. Algotech will help traders build their edge in the market. Its advanced algorithms analyze assets across over 1000 unique data points to identify the next breakout opportunities.
The platform’s algorithms also enable traders to make split-second entry decisions for high-precision trading. The platform monitors market funding levels, availability, liquidity and spread. This helps reduce risk for traders.
Algotech also comes with an AI-based trailing stop feature, which allows traders to manage risk and protect their trading capital. Its AI tools also present traders with arbitrage opportunities. In addition to that, Algotech provides access to trading strategies, community resources, and trading education.
Will Algotech be a strong project?
Algotech is still in its presale but it could become a very strong project in the cryptocurrency space. If the development team rolls out its features and products, it could attract thousands or even millions of traders in the crypto space.
Their whitepaper indicates that only 30 million ALGT tokens will be issued. Of this amount, 10% of the tokens have been allocated to R&D and funding for testing, durability and performance on the current and new algorithms.
Furthermore, another 10% has been allocated to the support in promotion and bounty to partners. The founders will hold on to only 7% of the total supply while the team gets a 3% allocation. Finally, 70% of the total token supply is available for public sale (including marketing).
Token holders will enjoy certain incentives such as a percentage of trading fees on the platform. They would also participate in governance decisions within the Algotech ecosystem.
Should you purchase ALGT tokens?
The Algotech presale is moving swiftly and is currently in its third stage. It has raised nearly $4 million so far and could go higher in the coming days and weeks. In this stage, the ALGT token is going for $0.08, with more than 98,000 tokens sold so far.
With the right level of adoption, Algotech’s ALGT token could record massive gains in the medium to long term. In addition to Algotech’s features, token holders will receive a certain percentage of platform trading fees.
