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What is the issue price of Akash coin
Akash Coin's issue price of $0.08 during its ICO in October 2018 was determined by factors such as project valuation, market conditions, and token supply and demand dynamics.
Nov 19, 2024 at 11:58 am
Exploring the Issue Price of Akash Coin
Akash Network, a decentralized cloud computing platform, introduced its native cryptocurrency, Akash Coin (AKT), through an initial coin offering (ICO) in 2018. The issue price of AKT played a crucial role in establishing its initial value and attracting investors.
ICO Details
- Date: October 2018
- Total Supply: 100 million AKT
- Initial Circulation: 40 million AKT
Token Allocation:
- 25% - ICO
- 25% - Team and Advisors
- 20% - Airdrop
- 10% - Reserve
- 10% - Mining Rewards
- 10% - Ecosystem Fund
Issue Price
The issue price of AKT during the ICO was $0.08 per token. This price was determined based on the project's valuation, market conditions, and the number of tokens offered for sale.
Factors Influencing the Issue Price
Several factors contributed to the setting of AKT's issue price:
- Project Valuation: The projected future value of the Akash Network was a key determinant of the issue price.
- Market Conditions: The prevailing market conditions, including the overall cryptocurrency market sentiment and the demand for cloud computing services, influenced the price.
- Token Supply and Demand: The initial circulation and the total supply of AKT impacted the price dynamics.
- Competition: The presence of competing cloud computing projects and their valuations influenced the issue price.
Importance of Issue Price
The issue price of a cryptocurrency has several implications:
- Initial Value: It establishes the initial market value of the token and provides a baseline for future price fluctuations.
- Investor Attraction: An attractive issue price can attract investors to participate in the ICO and contribute to the project's success.
- Market Perception: The issue price shapes the market's perception of the project's value and credibility.
- Further Fundraising: A well-received ICO can pave the way for additional fundraising through secondary token sales or other mechanisms.
Subsequent Price Performance
After its ICO, AKT's price fluctuated significantly due to various market dynamics, project developments, and broader economic conditions. However, it has generally maintained a value above its issue price. The current price of AKT (at the time of writing) is approximately $2.26.
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