These AI-Related Cryptos Have Outperformed Bitcoin, Ethereum Over A Week: Nvidia Effect Or Something Else?
Portfolio Pulse from Aniket Verma
AI-related cryptocurrencies Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) have outperformed Bitcoin and Ethereum over the past week, driven by excitement around a token merger to create the Artificial Superintelligence Alliance (ASI) token. Despite Nvidia's recent decline in stock price, these AI-linked cryptos have continued to rise.
June 27, 2024 | 10:32 am
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Nvidia's stock has fallen 6.6% since becoming the world's most valuable company, now ranking third in market cap. Despite this, AI-related cryptocurrencies have continued to rise.
Nvidia's stock decline is notable given its recent milestone as the world's most valuable company. However, the continued rise of AI-related cryptocurrencies suggests that the market's enthusiasm for AI is not solely dependent on Nvidia's stock performance.
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