Akash Network (AKT)
Decentralized GPU cloud marketplace with real revenue; GPU demand tailwind but AKT P/S stretched vs actual compute revenue.
Ranked 46th of 251 rated tokens. Scoring pass 18 Sept 2026.
What the numbers say
AKT scores 129 of 250 across the 25-variable framework, which places it 46th of 251 rated tokens and inside the top quartile of the set. The framework verdict is CAUTIOUS HOLD.
AKT is a top-10 name in the set on one variable. The score rests on Holder Concentration 5/10, 10th of 251, Revenue Trend 6/10, 15th of 251, Regulatory Safety 7/10, 17th of 251 and Real Staking Yield 6/10, 17th of 251.
Only 76.8% of AKT's maximum supply is in circulation, so 1.3x the current float is still scheduled to arrive. Holding price per token flat while the rest enters circulation implies 23.2% of the fully diluted value sitting ahead of today's holders. That is a real but manageable overhang.
AKT trades 91.3% below its all-time high of $8.07. Recovering that level is a 11.5x move, not a 91.3% one, which is the arithmetic most drawdown charts hide.
The framework score gained 17 points against the previous pass (112 to 129). Revisions of this size follow a change in the underlying variables, not a change in price.
AKT is strong on Circulating / FDV Ratio and Regulatory Safety. The market prices those variables only partly, so the score is neither fully reflected in the price nor fully ignored by it. Its weaknesses sit in Buyback and Burn, none of which the market is currently punishing. A risk nobody is charging for is still a risk.
25-variable breakdown
Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.
Cash flow
| Protocol Revenue | 5 | 37th of 251 | |
| Revenue Trend | 6 | 15th of 251 | |
| P/S Multiple | 5 | 38th of 251 | |
| Real Staking Yield | 6 | 17th of 251 |
Supply
| Supply Inflation | 6 | 43rd of 251 | |
| Vesting Schedule | 6 | 59th of 251 | |
| Circulating / FDV Ratio | 7 | 46th of 251 | |
| Buyback and Burn | 3 | 63rd of 251 |
Ownership
| Smart Money Flows | 5 | 48th of 251 | |
| Insider Selling | 5 | 42nd of 251 | |
| Holder Concentration | 5 | 10th of 251 |
Traction
| TVL Trend | 5 | 30th of 251 | |
| Active Users | 4 | 91st of 251 | |
| Developer Activity | 6 | 33rd of 251 | |
| Network Growth | 5 | 52nd of 251 |
Position
| Market Share | 4 | 87th of 251 | |
| Competitive Moat | 4 | 114th of 251 | |
| Institutional Adoption | 4 | 71st of 251 | |
| Exchange Depth | 4 | 157th of 251 | |
| Social Mindshare | 5 | 41st of 251 |
Risk
| Regulatory Safety | 7 | 17th of 251 | |
| Catalyst Calendar | 6 | 29th of 251 | |
| BTC Alpha Potential | 4 | 45th of 251 | |
| Team Execution | 6 | 30th of 251 | |
| Treasury Runway | 6 | 33rd of 251 |
The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.
Catalyst and risk
Next catalyst
GPU leasing demand from AI startups; confidential compute and persistent storage launches
Principal risk
Actual AKT-denominated revenue remains modest; centralized clouds (AWS, Lambda) competing aggressively on price; token not required for marketplace use
Market and supply
| Price | $0.7055 |
| Market cap | $210.6Mrank 185 |
| All-time high | $8.076 Apr 2021 |
| Circulating supply | 298,456,797 |
| Eventual supply (max supply) | 388,539,008 |
| Dilution to full supply | 1.3x |
| Listed on | Kraken, Coinbase, Gate.io, Osmosis |
Price, market cap, supply and all-time high from CoinGecko, fetched 7 Oct 2026. The 25 scores come from the research pass dated 18 Sept 2026 and don't move with price.
Tokens with a similar profile
These are the closest matches to AKT measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.
AKT compared head to head
Both sides of each comparison were scored by the same framework in the same pass, so the gap between them is a measurement rather than two readings taken with different rulers.
Sources
- [Akash Network Stats] Akash Network GPU marketplace hosts thousands of GPUs including H100s from independent providers
- [Staking Rewards] AKT staking yield ~15-20% APY with Cosmos SDK validator setlink dead, claim unverified
- [CoinGecko] AKT ATH $8.08 reached March 2024 on AI/GPU compute narrative
One source link above no longer resolves, so we stripped the hyperlink rather than leave something that looks like evidence until you click it. The claims stay visible because they are part of the research record, but treat them as unverified. Every link was rechecked 5 Oct 2026.
Common questions
- What is the Early Thunder score for Akash Network (AKT)?
- AKT scores 129 out of 250 on the 25-variable framework, ranking 46th of 251 rated tokens (top quartile). The framework verdict is CAUTIOUS HOLD.
- What are AKT's strongest fundamentals?
- AKT ranks highest on Holder Concentration 5/10, 10th of 251, Revenue Trend 6/10, 15th of 251, Regulatory Safety 7/10, 17th of 251 and Real Staking Yield 6/10, 17th of 251. Ranks are measured against all 251 tokens in the same scoring pass.
- How much AKT supply is still to enter circulation?
- 76.8% of eventual AKT supply is circulating today, leaving 1.3x the current float still to arrive. At a flat price per token that is 23.2% of fully diluted value ahead of current holders.
- How far is AKT from its all-time high?
- AKT trades 91.3% below its all-time high of $8.07. Returning to that high requires a 11.5x move from the level used in this scoring pass.
- Which tokens have a similar profile to AKT?
- Measured on the shape of all 25 scored variables rather than on price, the closest matches to AKT are NOS (86), SHDW (103), PEAQ (88) and SLND (106). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
- What is the next catalyst for AKT?
- GPU leasing demand from AI startups; confidential compute and persistent storage launches
Keep reading
Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.