AKT

Akash Network

AI

An open marketplace for GPU and cloud compute whose token is now burned when people pay for it.

Recovering, usage thin v1.1 · as of 2026-10-21 · framework v1.13 Coinsight · all analyses
Bottom line

Akash rebuilt its token model in 2026: Burn-Mint Equilibrium (live 23 Mar) burns AKT when tenants buy compute credits, and a governance vote cut maximum inflation from 8% to 4%. The token responded, +109% this year and +11% over 12 months while BTC fell 22%, though it still trades 91% below its 2021 high. Paid usage is real but small: reported net burn is about 0.8M AKT per quarter against roughly 2.9M AKT minted, and GPU usage fell sharply in Q1 2026. The planned move off its own Cosmos chain is the big open question.

Scorecard (1–5)
Project
Token performance
Tokenomics
Price
$0.7397
+1.5% 24h · +17% 30d · CoinGecko 21 Oct
Market cap
$221.2M
rank #179 · FDV $221.2M
24h volume
$10.3M
4.6% of market cap
From ATH
−91%
ATH $8.07, Apr 2021
2026 YTD
+109%
$0.3540 → $0.7397
Staked
~34%
~100M AKT bonded · NodeStake tracker, undated

The last 12 months

$0.25$0.5$0.75$1$1.25Oct 25NovDecJan 26FebMarAprMayJunJulAugSepOctNovDec2025-10-27: $0.8401$0.842026-02-06: $0.2779$0.28 low2026-05-26: $0.9253$0.93 peak2026-10-21: $0.7397$0.741Cosmos chain to be retired2AkashML launches3Year low at $0.284Homenode early access5BME live (Mainnet 17)6Inflation cut to 4% max712-month high at $0.938Mainnet 18 upgrade9Summer low at $0.4310Chain migration decision
GovernanceProductMarketTokenomicsTechUpcoming

Daily closes from CoinGecko, 22 Oct 2025 to 21 Oct 2026.

Key events
  1. 1
    13 Oct 25 Cosmos chain to be retired. Greg Osuri says Akash will leave its own Cosmos SDK chain; Solana named a strong contender, no date set.
  2. 2
    Nov 25 AkashML launches. Hosted AI inference on Akash GPUs, aimed at developers who do not want to manage deployments.
  3. 3
    06 Feb 26 Year low at $0.28. AKT closes at $0.28, −67% from late October 2025.
  4. 4
    25 Feb 26 Homenode early access. Owners of RTX 4090, RTX 5090 and RTX 6000 Ada cards can sign up to supply inference capacity.
  5. 5
    23 Mar 26 BME live (Mainnet 17). Compute is now priced in ACT, a USD-pegged credit minted by burning AKT; 53,520 AKT burned in the first eight days.
  6. 6
    May 26 Inflation cut to 4% max. Prop 322 lowers the inflation range from 4–8% to 3–4% and sends 70% of rewards to the community pool.
  7. 7
    26 May 26 12-month high at $0.93. Rally from $0.51 on 1 May peaks at $0.93, more than triple the February low.
  8. 8
    11 Jun 26 Mainnet 18 upgrade. Akash v2.1.0 adds Oracle v2 and resource reclamation (AEP-82).
  9. 9
    30 Jul 26 Summer low at $0.43. −54% from the May peak, then a rebound to $0.78 by 5 Oct.
  10. 10
    Q4 26 Chain migration decision. AEP-79 picks a new base network for Akash; one source targets Q4 2026, no vote scheduled yet.

How a GPU deployment works on Akash

Developer
Describes the workload

Writes a deployment file (container, GPU type, price cap) in Akash Console or the CLI.

BME module
Burns AKT, mints ACT

Tenant deposits AKT, which is burned to mint ACT credits pegged to ~$1.

Akash chain
Order posted

The deployment becomes an on-chain order open to all providers.

Providers
Reverse auction

Providers bid; the tenant picks one and a lease is created.

Provider cluster
Workload runs

Container runs on the provider's Kubernetes GPUs; ACT streams from escrow per block.

Provider
Settles in AKT

Provider burns earned ACT and receives newly minted AKT, or holds ACT.

Where AKT comes in: it is burned when tenants mint ACT and minted again when providers redeem ACT, so tokens leave supply only to the extent of fees and timing between the two steps. AKT also secures the chain through staking and receives inflation rewards.

Usage and adoption

AKT per 90 days, Aug to Oct 2026
Net burned via BME
~0.81M
Minted to stakers (30%)
~0.87M
Minted in total, incl. community pool
~2.9M

An independent analysis (DEV Community, Aug 2026) puts gross minting at ~2.9M AKT over the trailing 90 days, with 70% going to the non-circulating community pool, against ~0.81M AKT of net BME burn. So circulating supply is roughly flat, but total supply still grows by ~2M AKT a quarter. Daily net burn reportedly rose from ~5,950 AKT at launch to ~11,105 AKT by late July. Single source; on-chain totals not verified.

  • strong signal
    Net AKT burn (BME)
    ~0.81M AKT / 90 days

    ≈ $0.4–0.6M at recent prices. Burned when tenants mint ACT to pay for compute; the cleanest paid-usage signal, but from one independent analysis.

  • medium signal
    Compute spend
    ~$5M in Q1 2026

    Reported record, secondary source (KuCoin blog); sits oddly with Messari's GPU usage drop in the same quarter.

  • medium signal
    GPUs in use
    84 avg, Q1 2026

    Messari: −57.4% QoQ, utilisation 33.7%. Shows how small real GPU demand is.

  • weak signal
    New leases
    34,300 in Q4 2025

    Messari via Blockmedia, +28% QoQ. Leases include tiny CPU deployments and tests.

For AKT the scoreboard is net burn from BME against gross minting. Burn now offsets the part of inflation that reaches stakers, but not total minting, and GPU demand fell in early 2026. A steady rise in daily net burn would be the clearest sign that usage is catching up.

Project

What it is
A decentralised cloud marketplace (mainnet since 2020): developers rent CPU and GPU capacity from independent providers through a reverse auction, paying far less than hyperscalers by the project's own claims.
Team
Founded by Greg Osuri; core development by Overclock Labs (co-founder Adam Bozanich). The team is paid from the community pool through quarterly governance proposals (Q2 2026: ~$620k).
Technology
Own Cosmos SDK chain for orders, leases and payments; workloads run on providers' Kubernetes clusters. Since Mar 2026 compute is priced in ACT, a USD-pegged credit minted by burning AKT. AkashML (Nov 2025) offers hosted AI inference.
Traction
Messari: 34,300 new leases in Q4 2025 (+28% QoQ), but average GPUs in use fell 57% to 84 in Q1 2026 at 33.7% utilisation. A record ~$5M of compute spend in Q1 2026 is reported by one secondary source.
Competitors
io.net, Render, Aethir and Nosana in DePIN compute; CoreWeave, Lambda and the big clouds for serious AI workloads.
Key risks
Small and uneven GPU demand; reliance on community-pool funding for the core team; an unresolved migration off the Cosmos chain; thin liquidity for large holders.
Roadmap
Retire the Cosmos SDK chain and move to another network (AEP-79, ~15 L1s evaluated, Solana named a strong contender); one secondary source targets Q4 2026, no vote yet. Homenode expands consumer-GPU supply.

Token performance

1-year return (22 Oct 2025 → 21 Oct 2026, CoinGecko)
AKT
+11%
BTC
-22%
ETH
-35%

AKT beat BTC and ETH over 12 months, mostly through the 2026 rebound from a $0.28 low. Over 3 years it is down roughly −30% (from ~$1.05 in Oct 2023, a manual and approximate figure) vs BTC ~+179% and ETH ~+53%; 3-year figures are manual because the free CoinGecko API covers 365 days.

Range 2026
$0.28 low (6 Feb) to $0.93 high (26 May), daily closes; now $0.74
12-month drawdown
−67%, from $0.84 (27 Oct 2025) to $0.28 (6 Feb 2026); then −54% again from the May peak to $0.43 (30 Jul)
Liquidity
$10.3M traded in 24h, 4.6% of market cap; rank #179
Relative strength
+11% in a year vs BTC −22% and ETH −35%; +109% year to date, but rallies have retraced by half within weeks
ATH check ATH check passed. The $8.07 high (6 Apr 2021) came about seven months after AKT began trading in 2020, and price came back to roughly $5–6 in spring 2024, within 50% of it, so the ATH is used as the reference.

Tokenomics

Supply
~299.05M AKT total and circulating; 388.54M maximum.
Inflation
Prop 322 (May 2026) cut inflation to a 3–4% range (from 4–8%) and raised the community-pool share of rewards to 70%. About 2.9M AKT minted per 90 days.
Unlocks/vesting
Genesis vesting from 2020 is long finished; new float comes from staking rewards and community-pool grants, not cliffs.
Utility
Staking and governance for the chain, and the asset burned to mint ACT compute credits; providers redeem ACT for newly minted AKT.
Distribution
~34% of supply staked; ~5M AKT in the community pool. Team and investor holdings were not found in public data for this analysis.
Sinks
BME net burn of ~0.81M AKT per 90 days (Aug–Oct 2026, one independent analysis); staking. No ETFs or buybacks.

Bull case

BME burn keeps growing as AI inference moves to AkashML and Homenode GPUs, overtaking the ~2.9M AKT minted per quarter; a clean chain migration widens reach. Price holds above $0.60 and retests the $0.93 May high.

Bear case

GPU demand stays small and burn plateaus near ~0.8M AKT a quarter while minting continues; the chain migration drags on or disrupts staking. Price repeats the summer pattern and falls back toward $0.43, or the $0.28 February low.

Watch before the next re-run

  • Daily net AKT burn from BME vs gross minting
  • GPU count and utilisation in Messari's quarterly reports
  • AEP-79 chain migration decision and any governance vote
  • $0.60 support and the $0.93 May high

Where to trade

Krakenlisted

AKT against EUR · USD

24h $246.8k · ±2% depth $389.6k

OKXnot listed

No AKT spot market on OKX.

Largest exchanges

Exchange24h vol±2% depth
CoinbaseAKT/USD$687.0k$543.6k
GateAKT/USDT$526.1k$128.9k
KuCoinAKT/USDT$469.8k$95.9k
KrakenAKT/USD$225.1k$389.6k
BithumbAKT/KRW$186.8k$43.2k

Deepest DEX pools

Pool24h vol±2% depth
OsmosisAKT/OSMO$14.1k$11.0k

Pool size (TVL), fee tier and fee APR are not in yet: they need DefiLlama, which this setup cannot reach so far. CL = concentrated liquidity (higher fees, more impermanent-loss risk).

On-chain share of all AKT volume: 0.2%.

As of 21 Oct 2026 · CoinGecko tickers (24h volume, ±2% depth). ±2% depth is the money it takes to move the price 2% either way: the real size of a market. Exchanges ranked by volume among well-known venues; pools by depth. Not investment advice.

Where to follow

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