In contrast to what happened in the first quarter of 2024, the total market cap of AI coins has been falling lately. In fact, at press time, the value was “just” $28.86 billion.
And, the reason is glaring. Artificial Intelligence, popularly called its short-form AI, has had several developmental strides within the past year. Some of these range from growing demand for GPUs, ChatGPT Adoption, and the skyrocketing market cap of Nvidia. At press time, NEAR’s price was $5.06. Earlier in the year, the value of the token had climbed from $2.64 to $8.90 between January and March. However, a 30.02% decline within the last 30 days means that most of these gains have gone to dust.
If this remains the case, demand for NEAR could be difficult to come by. As such, the price might fall. However, this prediction will be invalidated if a major development occurs in the AI sector or buying pressure increases., was one of the AI coins that hit a new all-time high in 2024. Specifically, FET touched $3.47 on 28 March this year.