- Sui Community is engaged on initiatives involving the convergence of AI and blockchain.
- The co-founder of Mysten Labs highlighted Sui's funding in AI for its initiatives.
- SUI has risen 86.02% within the final 30 days and may be very near its ATH.
Sui Community has introduced that it’ll mix synthetic intelligence (AI) and blockchain expertise in its upcoming initiatives to enhance effectivity and safety.
Mysten Labs co-founder Kostas Chalkias mentioned in an X put up on Saturday that the Layer 1 blockchain protocol plans to combine AI and blockchain expertise to enhance AI-related companies.
Integrating AI and Blockchain
Enterprise capital agency Andreessen Horowitz (a16z) highlighted the advantages of integrating AI and blockchain in its State of Crypto 2024 report. The report states that the variety of crypto initiatives with AI companies and options will develop from 27% in 2023 to 34% in 2024. a16z cited the Close to Protocol (NEAR) for instance of a challenge that has efficiently addressed “content material and mental property verification” points. within the AI sector.
By overcoming the challenges of the AI sector, the blockchain sector has attracted extra builders and innovators. Blockchain expertise provides transparency that may assist resolve the authentication issues plaguing the AI sector.
SUI token efficiency
At press time, SUI was buying and selling at $2.10, up 3.40% within the final 24 hours, in accordance with information from CoinMarketCap. Digital has a market worth of $5.80 billion and ranks 18th by valuation. The altcoin is up 14.49% over the previous week and 86.02% over the previous 30 days.
SUI is additional buying and selling very near its all-time excessive (ATH) of $2.16 and there’s a likelihood that traders might witness a brand new ATH. That is doable as a result of the relative power index (RSI) for the altcoin is excessive. On the time of writing, the RSI is at 61.78, indicating robust shopping for strain.
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