Over the course of the past two months, the cryptocurrency market has witnessed a significant price recovery. Most of the coins included in the top 100 list have seen gains of double and triple digit percentages, with several of them reaching their all-time highs. Moreover, the last few price increases come on the heels of “AI” currently trending the crypto sector; after the rise of AI tools like ChatGPT and Google’s recently launched Bard.
Nearly following protocol in AI Frenzy?
Among the growing list of AI-focused altcoins gaining value, a surprising entry from Near Protocol has seen its native token, NEAR, zoom more than 15% today at the time of writing. What appears to be a deliberate jump on the AI bandwagon, Near’s recent tweet claims”AI is NEAR’ while retweeting a community post garnered a lot of attention and garnered the likes of NEAR holders and loyalists.
Read more: Check out the top 10 DeFi lending platforms of 2023
The retweet, which comes from a community-driven Twitter profile, briefly describes how Near Protocol could serve as a leading blockchain for facilitating “next generation AI use cases.” According to the post, Near generates a layer of value to establish rules and prices for data, which other apps and protocols can then use in an approach that is open, fair, and transparent.
AI is #NEARBY 👀 https://t.co/0Uc8a2NIEn
— CLOSE Protocol | Create without limits (@NEARProtocol) February 8, 2023
The after further claims that the most widely used crypto AI crossover application is actually one of the oldest DApps on the Near blockchain. An application called “NearCrowd” running on-chain has been operating discreetly for nearly two years, with thousands of employees around the world (over 1000 DAUs) labeling millions of data points used to train real machine learning models.
Growing AI sector in crypto
The artificial intelligence sector has rapidly grown to a value of $327.4 billion. And today, as the popularity of ChatGPT and other AI-based services continues to rise, the company is expected to grow even more over the next few years. This optimistic view of artificial intelligence (AI) and blockchain technology should be extremely beneficial for digital assets performing in the AI sector.
As things stand, the price of Near Protocol (NEAR) has risen to $2.74 at time of compilation. And according to the crypto market tracker published by CoinGape, this results in a 16.75% growth over the past 24 hours, as opposed to a 22% jump over the past seven days.
Also read: The arrival of this tech giant increases the price of Hedera (HBAR) by more than 13%
Pratik has been a crypto evangelist since 2016 and has experienced almost everything crypto has to offer. Be it the ICO boom, the bear markets of 2018, Bitcoin’s halving so far – he’s seen it all.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
This post Near Protocol (NEAR) price pumps 15% more than “AI” news
was published first on https://coingape.com/near-protocol-price-ai-coming/