Akedo crypto rallies 59% after $62M unlock – What’s driving AKE?

Akedo [AKE] unlocked $62 million worth of tokens two days ago, equivalent to 9% of its circulating supply. During the past two unlocks, the altcoin dropped 22% and 49% in the following week. This time, the market behaved differently. Although it fell to $0.021, it bounced back shortly after, flipped $0.03, and rose to $0.036. As of this writing, AKE was trading around $0.035, up 59% on the daily charts. The price hike led to a Daily Turnover of $16 million, suggesting increased trading activity during the rally. Is Akedo's rally leverage-driven? Akedo's recent rally has captured market participants' attention, prompting questions about what's driving it. Professor On-Chain noted that the recent hike was mostly leverage-driven, with Futures volume outpacing Spot volume by 93x.

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