Crypto of the week: Near Protocol ($NEAR)

Near Protocol price staged a strong comeback on Sunday, becoming one of the best-performing cryptocurrencies of the day. The token surged to a high of $8.5 as it neared the year-to-date high of $9. It has soared by over 285% from its lowest point this year.

Near Protocol will be the cryptocurrency to watch this week because of what will be happening in the US. Nvidia, the third-biggest company in the world, will host its flagship event of the year, which I wrote on here. 

The GTC event will bring together the biggest companies in the world. A closer look at the attendees and sponsors shows that they are the top corporations around the world. Some of the top companies are Google, Raytheon, and Microsoft. 

Near Protocol will be in the spotlight because its founder, Ilya Polosukhin, will be among the top speakers. He will be in the same stage with Jensen Huang, the founder of Nvidia, in one of the most-watched panels of the event.

Therefore, traders will focus on Near because of the potential announcements that will come out of the event. Some of the potential announcements are brand partnerships and even investments. 

Near Protocol will not be the only AI crypto to watch this week. Other coins to focus on are Bittensor (TAO), Render (RNDR), Fetch AI, and SingularityNET (AGIX). All these tokens have surged by more than 20% in the past 24 hours.Fundamentally, Near Protocol is doing well. Data shows that the network’s Total Value Locked (TVL) has surged to over $643 million. The top dApps in the ecosystem are the likes of Burrow, Linear Protocol, Meta Pool, and Ref Finance.

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