NEAR Protocol Token Skyrockets Nearly Doubles in a Week, Driven by Nvidia AI Conference

Bittime – The price of the NEAR Protocol (NEAR) token has experienced a significant increase of almost twofold since March 5 2024. This increase was triggered by enthusiasm ahead of Nvidia's upcoming annual conference, and is believed to be influenced by several other factors.

One of the main driving factors is Near Protocol CEO and co-founder Illia Polosukhin, who will be speaking on a panel titled "Transforming AI " at the Nvidia conference. 

In fact, the panel will be directly hosted by Nvidia CEO, Jensen Huang. Polosukhin's presence and the planned launch of Near Tasks, Near Protocol's new product focused on artificial intelligence (AI), sparked speculation about the potential for close cooperation between NEAR and Nvidia in the future. 

Near Protocol was one of the few crypto companies present at the conference's keynote presentation.

Near Protocol Price Rises due to NVIDIA AI Conference

NEAR's price increase did not occur in isolation. This positive trend is also visible across the AI-related token sector.

Some tokens such as fetch.ai (FET), The Graph (GRT) , and SingularityNET (AGIX) have all seen gains of more than 30% over the past week. Overall, the CoinDesk 20 (CD20) index that tracks the top 20 crypto tokens rose 9.18% in the same period.

Additionally, the rise in Bitcoin price to a new high of $72,446 on Monday helped drive positive sentiment in the crypto market. 

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The phrase "the future is NEAR" written by Arthur Cheong, CEO of crypto venture capital firm DeFiance Capital on social media, further strengthens the bullish sentiment.

For information, Near Protocol was originally founded as NEAR.AI in 2017, which is an AI company that is not related to blockchain . 

The NEAR team then began building the NEAR protocol in 2018, and their mainnet officially launched in 2020. 

Before founding Near, Polosukhin worked at Google Research and contributed to the development of models and tools that would later become the foundation of artificial intelligence.

Near Protocol uses Nightshade's proof-of-stake mechanism and consensus protocol, which allows Near to process approximately 100,000 transactions per second and one block per second. According to CoinDesk data, the market capitalization of the NEAR token currently stands at $7.45 billion.

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About NVIDIA GTC Conference 2024

The GTC Conference (GPU Technology Conference) is an annual event hosted by NVIDIA.

This event is designed to introduce and discuss the latest innovations in GPU ( Graphics Processing Unit ) technology and their applications in a variety of fields, including artificial intelligence (AI), data science, autonomous vehicles, health, science, and many more. 

GTC provides a platform for developers, researchers, engineers and technology professionals to share knowledge, experience and the latest ideas in using GPUs to solve current technology challenges. 

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The event includes presentation sessions, workshops, product demonstrations and networking opportunities that allow participants to engage in in-depth discussions, training and exchange of ideas with experts and peers.

This year's NVIDIA Conference will be held starting March 18, 2024. Keynote speaking will be from NVIDIA CEO, Jensen Huang, to over 900 inspiring sessions, 300+ exhibits, 20+ technical workshops covering generative AI and more, as well as numerous networking events unique, GTC brings something for every technical level and area of ​​interest.

CEO and co-founder of Near Protocol, Illia Polosukhin, will be a speaker on a panel entitled "Transforming AI" which will even be hosted directly by Nvidia CEO, Jensen Huang as the keynote speaker. 

This is one of the factors driving the increase in the price of the NEAR token because it has given rise to speculation regarding potential collaboration between Near Protocol and Nvidia in the field of artificial intelligence.

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Based on the name, this conference will focus on artificial intelligence (AI). Experts and players in the field of AI are expected to attend to discuss the latest developments, trends and potential of AI technology. 

This conference could be a place for companies like Nvidia to showcase their technological advances and discuss the future of AI.

The Transforming AI panel featured the authors of "Attention Is All You Need", a groundbreaking paper introducing the transformer neural network architecture.

Here is the list of panel performers at this year's GTC conference from NVIDIA:

1. Jensen Huang, Founder and CEO of NVIDIA
2. Ashish Vaswani, Founder and CEO of Essential AI
3. Noam Zhazeer, CEO and Founder of Character.AI
4. Niki Parmar, Founder of Essential AI
5. Jakob Uszkoreit, Founder and CEO Inceptive
6. Singa Jones, Founder and CTO of Sakana AI
7. Aidan Gomez, Founder and CEO of Cohere
8. Lukasz Kaiser, OpenAI Technical Staff
9. Illia Polosukhin, Founder NEAR Protocol

How to Buy Near Protocol (NEAR) on Bittime

You can buy and sell Near Protocol (NEAR) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Near Protocol (NEAR) is available on Bittime with the market pair NEAR/IDR . To be able to buy NEAR IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Near Protocol (NEAR) on Bittime . 

Monitor the price chart movements of Near Protocol (NEAR) , Bitcoin (BTC), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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Nvidia's Q4 Earnings Drive AI Token Price Increase

NEAR Protocol (NEAR) Price Increase: Driven by New Users and Technology Adoption

DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.