The cryptocurrency market has seen a significant price rebound over the past month. Most coins included in the top 100 list saw gains of double- and triple-digit percentages. Some have even reached all-time highs. Recent price increases are also coming in the wake of “AI”, which is the current trend in the crypto sector. This is due to the rise of AI tools such as ChatGPT and Google’s recently launched Bard.
Near Protocol Next In AI Frenzy?
Near Protocol’s surprise entry has seen its native token NEAR rise past 15% as a result of the increasing number of altcoins that focus on AI. Near’s recent tweet declaring “AI is NEAR” while reposting a community post received significant traction. This was in what seems to be a deliberate move on the AI bandwagon.

Advertisement

Read more: Check out the Top 10 DeFi Loan Platforms of 2023
The retweet, which comes from a community driven Twitter profile, briefly describes how Near Protocol could be a leading blockchain to facilitate “next generation AI” use cases. The post states that Near generates a value layer to establish rules and prices for data. This allows other apps and protocols to use the data in an open, honest and transparent way.

AI is #NEAR https://t.co/0Uc8a2NIEn
Trending Stories

Create Without Limits (@NEARProtocol) February 8, 2023
Further, the post claims that the most popular crypto-AI cross-application is actually one the oldest DApps on Near blockchain. NearCrowd, a secretive application that has been operating on the chain for nearly two years now. It employs thousands of workers around the globe (more than 1000 DAUs), and labels millions of data points that are used to train machine learning models.
Growing AI Sector in Crypto
The $327.4 billion dollar market for artificial intelligence has grown rapidly. Today, ChatGPT and other AI-based service are gaining popularity, so it is expected that the business will expand over the next few years. This optimistic outlook on artificial Intelligence (AI) and Blockchain technology should prove to be extremely beneficial for digital assets working in the AI sector.

Advertisement

At the time of writing, the Near Protocol (NEAR), price was $2.74. According to CoinGape’s crypto market tracker, this means that the price of Near Protocol (NEAR) has increased 16.75% in the past 24 hours, compared to 22% in the last seven days.
Also read: This Tech Giant’s Entry Increases Hedera (HBAR)’s Price by More Than 13%

About the author
Disclaimer

The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. The publication or the author are not responsible for any financial loss.

Crypto Stories
View all