As a researcher with a background in artificial intelligence (AI) and cryptocurrencies, I find today’s market action intriguing. AI-focused cryptocurrencies defied the broader digital asset market’s muted action, with large-cap tokens such as Fetch.ai’s FET, Render’s RNDR, Bittensor’s TAO, SingularityNET’s AGIX, and AIOZ Network’s token (AIOZ) advancing 4%-7% over the past 24 hours, according to CoinGecko data.
As a crypto investor with an interest in artificial intelligence (AI) technologies, I noticed an uplift in the value of my holdings in this sector on Wednesday. Despite a generally subdued performance across the digital asset market, AI-focused cryptocurrencies managed to buck the trend, possibly due to anticipation surrounding Nvidia’s (NVDA) quarterly earnings report scheduled for later that day.
The significant drop in the stock market today occurred following a rapid increase in the previous days due to favorable regulatory decisions in the United States and decreasing bond yields, which eased concerns about inflation.
As a crypto investor, I’ve noticed Nvidia shares experiencing a slight dip of around 1.5% in value as we approached the end of regular trading on Wednesday. This decline came before the company was set to release its earnings report for the quarter after the market closed.
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2024-05-22 22:47