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AI Tokens Surge While NVIDIA Drops 13% from Peak Value
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As Nvidia’s stock fell 13% from its high point, losing $430 billion in market value due to insider selling, AI-related coins went through the roof.
Over the past week, cryptocurrencies linked to artificial intelligence (AI) went through the roof, while Nvidia’s stock lost $430 billion in market value. Crypto traders keep a close eye on Nvidia, which is often seen as a sign of the AI coin market.
Google Finance data shows that Nvidia’s stock price has dropped 11.08% in the last five business days. Nvidia makes computer chips that many AI companies use to run their AI models.
Data from CoinMarketCap shows that Fetch.AI (FET) and SingularityNET (AGIX) are up 23.46% and 20.83% over the last week, while the overall crypto market has been going down.
Bitcoin (BTC $61,095) and Ether (ETH $3,368), the two biggest cryptocurrencies by market value, are down 9.17% and 4.23%, respectively, over the past week. People were worried about Nvidia’s stock going down because its president, Jensen Huang, and other leaders have been selling a lot of shares lately.
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