"Fulamak, the price can definitely go up if they have cooperation in the future."
Cryptocurrency NEAR saw a remarkable rally as its price since March 5, 2024 has almost doubled to break $8 driven by anticipation of Nvidia's annual conference which also boosts artificial intelligence (AI) related tokens.
Co-founder and Chief Executive Officer (CEO) of Near Protocol Illia Polosukhin is scheduled to participate in a panel titled "Transforming AI" at the conference which will be hosted by Nvidia founder and CEO Jensen Huang.
The streak, speculation about a potential collaboration between NEAR and Nvidia has sparked after NEAR was the only crypto-related firm scheduled to present at the keynote panel.
Please note that NEAR's price rally reflects broader trends in the AI crypto market where tokens such as Fetch.ai (FET), Graf (GRT) and SingularityNET (AGIX) have all posted gains of over 30% over the past week.
According to Arthur Cheong, Chief Executive Officer (CEO) of DeFiance Capital said that the future is close following the additional 20% increase of NEAR at $7 which marks the highest level since May 2022 has shown the optimistic sentiment of the crypto market.
In context, NEAR was not related to blockchain before but his team started building the NEAR protocol in 2018 then the mainnet was launched in 2020 and before leading it, Polosukhin contributed to Google Research to develop models and tools about AI.
NEAR operates as a Proof-of-Stake (PoS) blockchain leveraging a consensus protocol called Nightshade that allows NEAR to process approximately 100,000 transactions per second and generate blocks per second.
As of this writing, the price of NEAR has surged by 21.58% at $8.21 in the last 24 hours with a market capitalization of over $8 billion and has recorded a 101.28% increase over the past week.
