Bitrue Introduces AKT/USDT Perpetual Futures: A Deep Dive into Akash Network's Decentralized Cloud Computing
2024-11-21
On November 19, 2024, Bitrue, a prominent cryptocurrency exchange, announced the listing of a new USDT-based perpetual futures pair: AKT/USDT.
This development not only expands Bitrue's trading offerings but also brings attention to Akash Network, a decentralized cloud computing platform.
This article explores the significance of this listing, delves into Akash Network's innovative contributions to cloud services, and examines the role of the AKT token within this ecosystem.
Understanding Bitrue's AKT/USDT Perpetual Futures Listing
Bitrue's addition of the AKT/USDT perpetual futures pair marks a strategic move to diversify its trading options and cater to the growing interest in Akash Network's blockchain technology. Perpetual futures are derivative contracts that allow traders to speculate on the price movements of an underlying asset without an expiration date. This feature provides flexibility for traders to hold positions as long as desired, facilitating increased liquidity and dynamic trading strategies.
Key details about this new pair include:
- Launch Time: November 19, 2024, at 10:00 UTC
- Underlying Asset: AKT
- Settlement Asset: USDT
- Tick Size: 0.001
- Maximum Leverage: 75x
This listing enables traders to engage with AKT's market movements, offering opportunities to capitalize on its price fluctuations.
Exploring Akash Network's Decentralized Cloud Computing
Akash Network is an open-source, decentralized cloud computing platform that aims to provide efficient and cost-effective cloud services.
Built using the Cosmos SDK, Akash allows developers to deploy applications without relying on centralized cloud providers, promoting a more open and competitive cloud market.
Key Features of Akash Network:
- Decentralization: By leveraging blockchain technology, Akash eliminates the need for centralized control, reducing costs and increasing accessibility.
- Interoperability: Akash is the first blockchain to achieve Inter-Blockchain Communication (IBC) with Cosmos Hub, enabling seamless connections to other IBC-compatible blockchains.
- Security: The network is secured by a Proof-of-Stake (PoS) consensus mechanism, with AKT tokens used for staking to ensure network integrity.
- Scalability: Akash's architecture supports high transaction throughput, accommodating the demands of various applications and services.
By providing a decentralized alternative to traditional cloud services, Akash Network empowers developers and businesses to deploy applications more efficiently and cost-effectively.
The Significance of the AKT Token
The AKT token serves as the native cryptocurrency of the Akash Network, playing a central role in its ecosystem. It is utilized for transactions, staking, and governance, enabling token holders to participate in decision-making processes that shape the network's future.
Tokenomics:
- Total Supply: 248,285,794.661 AKT
- Circulating Supply: 247,400,000 AKT
- Market Cap: Approximately $1 billion USD
This structured approach to token distribution and inflation is designed to support long-term growth and the expansion of the decentralized cloud ecosystem while minimizing inflationary pressures.
Why This Matters
The listing of AKT/USDT perpetual futures is a significant milestone for both Akash Network and the broader cryptocurrency community. It highlights the growing interest in blockchain solutions tailored for real-world applications, particularly in areas like decentralized cloud computing, where Akash is leading the way.
By offering futures trading for AKT, Bitrue provides traders with a chance to invest in a project that is actively shaping the future of cloud services and infrastructure.
Conclusion
Bitrue’s decision to list AKT/USDT perpetual futures underscores the significance of Akash Network's contributions to blockchain innovation and decentralized cloud computing.
With its robust features, commitment to sustainability, and an ecosystem powered by the AKT token, Akash is well-positioned to drive meaningful change in the cloud computing landscape.
For traders and enthusiasts, the availability of AKT perpetual futures on Bitrue represents an exciting opportunity to engage with a cutting-edge blockchain project poised for growth.
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Frequently Asked Questions
1. What is the purpose of Akash Network?
Akash Network is a decentralized cloud computing platform that enables developers to deploy applications without relying on centralized cloud providers, promoting a more open and competitive cloud market.
2. How does the AKT token function within the Akash ecosystem?
The AKT token is used for transactions, staking, and governance within the Akash Network, allowing holders to participate in network decision-making processes.
3. Why trade AKT/USDT perpetual futures?
Trading AKT/USDT perpetual futures on Bitrue allows traders to speculate on AKT's price movements with flexibility, leverage, and without the need to hold the underlying asset directly.
Investor Caution
While the crypto hype has been exciting, remember that the crypto space can be volatile. Always conduct your research, assess your risk tolerance, and consider the long-term potential of any investment.
Bitrue Official Website:
Website: https://www.bitrue.com/
Sign Up: https://www.bitrue.com/user/register
Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.
Disclaimer: The content of this article does not constitute financial or investment advice.
