This One Crypto Is Most Associated With NVDA, Here How It's Doing After The Tech Giant's Blockbuster Quarter
Portfolio Pulse from Aniket Verma
Nvidia's (NASDAQ: NVDA) higher-than-expected Q1 earnings led to a decline in the AI-based cryptocurrency token Render (CRYPTO: RNDR), which fell 3.79%. Despite initial gains, profit-taking and high leverage positions contributed to the dip. Whale activity and increased trading volume suggest potential volatility ahead.
May 23, 2024 | 3:40 am
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Nvidia reported higher-than-expected Q1 earnings, which initially boosted related AI-based cryptocurrencies like Render. However, profit-taking and high leverage positions led to a decline in RNDR.
Nvidia's strong earnings positively impact its stock, but the associated AI-based cryptocurrency RNDR saw a decline due to profit-taking and high leverage positions. This indicates a mixed short-term impact.
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