Key Takeaways:
- Solana became the first Layer 1 blockchain to introduce a ChatGPT plugin.
- Yet, the SOL price refused to show any signs of life.
NEW DELHI (CoinChapter.com) — The Solana Foundation announced the release of a ChatGPT plugin for the Solana blockchain. Solana claimed to be the first Layer 1 blockchain to integrate directly with artificial intelligence.
The artificial intelligence sector has been heating up, with ChatGPT leading the sector. Solana announced that the integrated product was available for download on GitHub. Furthermore, Solana stated that AI integration would make it easy for users to “understand Solana data and protocols.”
The announcement claimed that Solana’s “fast throughput, near-zero costs, and ease of use” would facilitate artificial intelligence models’ interaction with the network.
Additionally, the Solana Foundation announced an increase in the grant amount in its AI-focused development programs, from $1 million to up to $10 million. Solana’s grants program encourages developers to develop new use cases for Solana protocols and AI models.
AI will make Solana more usable and understandable. Crypto APIs are way better than the APIs that deal with money from finance-focused centralized service providers because they are trustless and don’t deal with the same issues that centralized providers have to deal with.
Solana Labs CEO Anatoly Yakovenk said in an interview.
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The Solana Foundation also launched a Web 3 accelerator program for university students. The program would allow participants to collaborate with “top experts” in AI and blockchain.
Furthermore, Solana’s AI integration has started bearing fruit, creating an AI chatbot that “answers questions about Solana development and helps find the right Solana documentation.”
SOL Price Struggling Below EMA Resistance
Meanwhile, SOL price failed to capitalize on the news, dropping 3.4% to form a daily low near $19.38 on May 24. The Solana token price has been moving below the resistance confluence of its 20-day EMA (red wave), 50-day EMA (purple wave), and 100-day EMA (blue wave).
Bulls must breach above the confluence resistance before targeting resistance near $21.3. Moreover, a break and hold above the immediate resistance level would likely help the SOL price rise to $23.7 before downside corrections pare gains.
Conversely, the lack of volatility in the market could result in the SOL price dropping to its support near $18.7. Failure of the immediate support level might cause the Solana token to test the support level near $16.9 before recovering.
The relative strength index for SOL remained neutral, with a value of 37.5 on the daily charts.
