Polkadot Parachains Thrive as NeuroWeb Adds 2.4M Knowledge Assets

by

As an analyst with over two decades of experience in the tech and finance industries, I find myself consistently intrigued by the dynamic nature of the crypto market. While some projects struggle to keep their heads above water during bearish periods, others continue to thrive and make significant strides forward.

Due to a bearish trend in the cryptocurrency market, the AI and Big Data sector has seen a decline from $70.42 billion to $63.88 billion. Notably, Filecoin (FIL), with a current value of $6.40 and 24-hour volatility of 9.8%, has suffered significant losses. Its market cap stands at $3.90 billion, while its 24-hour volume is $1.66 billion. Similarly, Fetch.AI (FET), with a value of $1.79 and 24-hour volatility of 4.1%, has lost ground with a market cap of $4.65 billion and a 24-hour volume of $1.21 billion. The Injective protocol also experienced losses, ranking among the top losers in this sector.

Against all odds, the cutting-edge AI project Neuroweb, anchored on the Polkadot platform, is carving out a place in history. Continuing its upward trend, NeuroWeb.AI is reshaping the entire AI sector.

NeuroWeb.AI Adds 2.4 Million Knowledge Assets in November

NeuroWeb functions as a sidechain within the Polkadot network, enhancing its connectivity and security while serving as the foundation for a decentralized artificial intelligence platform. In essence, NeuroWeb AI is pioneering the idea of space-based knowledge mining, enabling individuals or entities to contribute valuable knowledge resources to the system and essentially “mine” for rewards.

Beyond this, OriginTrail’s Decentralized Knowledge Graph (DKG) serves as the fundamental structure for NeuroWeb. The DKG seamlessly integrates knowledge graph and blockchain technologies, thereby creating a vast realm of AI-compatible Knowledge Assets. This setup empowers everyone to engage in reliable knowledge exchange.

Knowledge Resources refer to useful, organized chunks of information, facts, or wisdom that users contribute to the NeuroWebAI’s distributed network. Moreover, these Knowledge Resources are tokenized and stored on a blockchain, which guarantees their origin, validity, and availability for various applications.

1) Miners are given tokens as a motivator for incorporating fresh data into the blockchain. According to Polkadot’s latest tweet, Neuroweb has reached an all-time high in data assets. In November alone, the platform added 2.4 million new data assets, surpassing the amount from October.

Polkadot Parachain Hit 9.07M Transactions

As an analyst, I’m sharing some insights about the Polkadot parachains. On a monthly basis, we witnessed a record-breaking high in transfers, totaling approximately 9.07 million. Interestingly, over half of these transfers can be attributed to NeuroWeb, contributing a staggering 6.96 million transactions in November alone.

In November, the number of transfers exceeded a total of 8.81 million, with NeuroWeb accounting for approximately 6.44 million of those transfers.

Polkadot Bulls Fail to Extend Rally Beyond $10

Yesterday, as selling intensity increased across the larger market, Polkadot’s price decreased by 18.45%. Unfortunately, this decline prevented Polkadot from exceeding the 38.20% Fibonacci level at approximately $10.26, causing it to dip below the significant $10 psychological threshold.

Currently, Polkadot stands at $8.55, and the recent dramatic drop has affected the upward trend seen in the last fortnight. Now, it’s approaching the 100-week Exponential Moving Average (EMA) line. With the Weekly Relative Strength Index (RSI) line retreating beneath the overbought threshold, Polkadot seems to be experiencing a slight downturn.

Source: Tradingview

Even though the Relative Strength Index (RSI) line has flipped from the overbought region every week, it suggests a possible resurgence.

Based on a decrease in price resistance and a significant crossover seen in both the 20-week and 50-week Exponential Moving Averages, this cryptocurrency is expected to attempt retesting the neckline at around $10.26. If it successfully breaks out bullishly, it could potentially reach the 50% Fibonacci level, which stands at approximately $14.145.

Read More

2024-12-10 14:36