Get Ahead of the Game: Near Protocol Token Soars Before Nvidia’s AI Conference

NEAR is one of the top-performing cryptocurrencies in the market, with its native token (NEAR) hitting its highest level since May 2022 at $7.00 after rising by 20% in the past 24 hours. This impressive surge in price can be attributed to the upcoming participation of NEAR founder and CEO Illia Polosukhin at Nvidia’s AI conference next week and the introduction of Near Tasks, a new product focused on AI.

The excitement surrounding the NEAR community is evident, as the company is the only crypto-related firm that will be presenting at the main panel of the conference. This has sparked discussions about potential collaborations between NEAR and Nvidia in the future.

But NEAR is not the only crypto AI token experiencing a surge. Fetch.ai (FET), the graph (GRT) and singularityNET (AGIX) have all seen gains of over 30% in the past week, according to CoinMarketCap. The overall crypto market has also seen positive movement, with the CoinDesk 20 index (CD20) rising by 9.18% in the same period.

This bullish sentiment is further supported by bitcoin reaching a record high of $72,446 on Monday.

Adding to the excitement, CEO of crypto venture capital firm DeFiance Capital, Arthur Cheong, declared that “the future is NEAR” in a social media post after the token’s 20% surge to $7.00, its highest level in over a year. Back on March 5, it was trading at $3.60.

The journey of NEAR began in 2017 as NEAR.AI, an AI company with no connection to blockchain technology. However, the team shifted focus to building the NEAR protocol in 2018, and it was successfully launched in 2020. Polosukhin, the co-founder and CEO, previously worked at Google Research, where he was involved in developing models and tools for AI.

NEAR is a proof-of-stake blockchain that utilizes a consensus protocol called Nightshade, enabling it to handle approximately 100,000 transactions per second and process one block per second. The current market cap of the NEAR token stands at $7.45 billion, according to CoinDesk data.

In conclusion, NEAR’s recent surge can be attributed to its founder’s upcoming participation in Nvidia’s AI conference and the launch of Near Tasks. With its high transaction speed and strong team behind it, NEAR could potentially become a major player in the world of AI and blockchain technology.