AI-related crypto tokens have been on the rise in the past week, despite a significant drop in market capitalization for Nvidia, a key player in the AI space. Nvidia’s market cap plummeted by nearly 13% to $2.91 trillion, down from its all-time high of $3.34 trillion, mainly due to concerns about massive stock sales by top executives like Chairman Jensen Huang. Huang alone has sold $79.38 million in shares since June 13, with Nvidia insiders collectively selling over $796 million this year. However, many of these sales were pre-planned, according to portfolio analyst Oguz O.
In contrast to Nvidia’s troubles, AI-related cryptocurrencies like Fetch.AI and SingularityNET have seen significant gains. Fetch.AI rose by 35% and SingularityNET by 34% in the last seven days, despite a general market crash that saw Bitcoin drop by 7% and Ethereum by 2.2% during the same period. Other AI tokens have also seen positive movement, with OpenAI CEO Sam Altman’s World Currency increasing by 5.9% and Arkham Intelligence’s native token, ARK, rising by 26% over the week.
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https://finance.yahoo.com/news/ai-crypto-tokens-surge-despite-061939123.html
