Is AI Coming To Near Protocol? Price Pumps 15% On This News

Over the course of the past month or two, the cryptocurrency market has been witnessing a significant price recovery. The majority of coins that are included in the top 100 list have seen gains of double and triple-digit percentages, and several of them have even reached their all-time highs. Moreover, recent few price increases are coming in the heels of “AI” currently setting the trend in the crypto sector; following the rise of AI tools like ChatGPT & Google’s newly launched Bard.

Near Protocol Next In AI Frenzy?

Among the growing list of AI-focused altcoins gaining in value, a surprise entry from Near Protocol has seen its native token, NEAR, zoom past 15% today at the time of writing. What seems like a deliberate jump on the AI bandwagon, Near’s recent tweet claiming “AI is NEAR” while retweeting a community post saw major traction 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 value layer for the purpose of establishing rules and prices for data, which other apps and protocols are then able to use in an approach that is open, honest, and transparent.

AI is #NEAR 👀 https://t.co/0Uc8a2NIEn

— NEAR Protocol | Create Without Limits (@NEARProtocol) February 8, 2023

The post further claims that the most widely utilized crypto-AI crossover application is actually one of the oldest DApps on the Near blockchain. An application called “NearCrowd” that is operating on the chain has been discreetly operational for almost two years, with thousands of workers all over the world (over 1000 DAUs) labeling millions of data points that are utilized to train genuine machine learning models.

Growing AI Sector In Crypto

The artificial intelligence sector has fast grown to be worth $327.4 billion dollars. And today, as the popularity of ChatGPT and other AI-based services continues to rise, it is anticipated that the business will undergo even more expansion over the course of the next several years. This optimistic outlook on artificial intelligence (AI) and blockchain technology should prove extremely beneficial to digital assets performing in the AI sector.

As things currently stand, the price of Near Protocol (NEAR) moved to $2.74 at the time of composition. And, according to the crypto market tracker published by CoinGape, this results in a growth of 16.75% over the past 24 hours, in contrast to a jump of 22% over the last seven days.

Also Read: This Tech Giant’s Entry Boosts Hedera’s (HBAR) Price By Over 13%