The recently launched Destra crypto, DSYNC, leaps as high as 32% following an announced 0% tax from Destra. DSYNC is the native token of Destra network, a decentralized AI computing platform.
According to data from CoinGecko, DSYNC has gone up by more than 30% in the past day of trading. At the time of writing, it is trading hands at $0.406. At the beginning of December, DSYNC reached a new all-time high, surging to more than half a dollar. The token’s current price is only 22% lower than its recent ATH.
In the past week, DSYNC has been on an upward trend. The token has gone up by more than 21%. However, it has gone down by 7.6% in the past month of trading.
A day before DSYNC’s price surge, the Destra Network announced via an X post that DSYNC is now tax free. Shortly after the announcement, the token spiked by 13% before seeing bigger gains the day after.
Price chart for DSYNC in the past 24 hours of trading, January 2, 2025 | Source: CoinGecko
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It is possible that the recent boost was fueled by the broader AI token rally. According to data from CoinGecko, the total market value of AI meme coins crossed the $10 billion threshold, increasing by nearly 30% in the past 24 hours. At the time of writing, its combined market cap is nearing $11 billion.
The Destra Network is known for its optimization of AI technology within the blockchain and cloud solutions using GPU. The project has been a champion of using decentralized AI agents.
According to its X account, Destra is in the process of developing a platform called Destra Sentient, that would provide traders with specially designed AI agents that “think like humans, communicate naturally, and bring a new level of interaction to your digital world.”
As previously reported by crypto.news, major networks such as ZKsync and Ripple Labs have made strides to combine AI and blockchain technology, whether it is through partnering with AI platforms or launching their own.
According to Syncracy Capital, AI technology is still fairly new to the crypto space, with only 1% of the total crypto market cap credited to AI-integrated projects. Though, this may soon change as AI tokens continue to reign.
Read more: Crypto x AI makes up just 1% of crypto market cap, says analyst
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
