Destra Cryptocurrency Skyrockets Over 30% Amid Tax-Free DSYNC Trading

In a recent development, the Destra network’s proprietary cryptocurrency, DSYNC, soared by up to 32% on the back of the announcement that Destra would enforce a 0% tax policy. DSYNC functions as the core currency within the Destra ecosystem, which focuses on decentralized AI computing frameworks.

Data presented by CoinGecko reveals that DSYNC’s value has climbed over 30% in the latest trading period. As of this moment, its market price is $0.406. The token’s peak valuation was recorded in early December when it crossed the fifty cent threshold. Currently, the token’s market value sits just 22% shy of its peak ATH.

DSYNC has exhibited a consistent ascent over the preceding week, with an increase exceeding 21%. Nevertheless, the token’s price has diminished by 7.6% across the last month of market activity.

Just one day before the value of DSYNC escalated, the Destra Network broadcasted a statement on an X post revealing that DSYNC would be exempt from taxes. Following this proclamation, the token experienced a 13% upswing, which preceded an even larger appreciation the subsequent day.

The rally in DSYNC’s value may be linked to the general uplift experienced by AI-focused tokens. As per CoinGecko, there’s been a nearly 30% surge in market capitalization for AI-related meme coins in the last day, reaching the brink of $11 billion from a $10 billion baseline.

Destra Network is acclaimed for integrating AI technologies within blockchain and leveraging GPU for enhanced cloud services. It promotes the use of decentralized AI entities in various applications.

Destra’s presence on X indicates they are formulating a new platform named Destra Sentient. This initiative aims to provide traders with sophisticated AI agents that emulate human reasoning, engage in natural dialogues, and introduce a new dimension to digital interaction.

As previously mentioned by crypto.news, prominent networks such as ZKsync and Ripple Labs have been advancing the integration of AI within the blockchain space by forming alliances with AI entities or pioneering their own AI initiatives.

Per insights from Syncracy Capital, blockchain-integrated AI technology is relatively nascent in the cryptocurrency domain, with merely 1% of the overall crypto market capitalization attributed to AI-driven projects. However, the landscape could rapidly transform as AI tokens appear to dominate the market.