Toncoin (TON) has drawn a lot of attention from crypto giants as its price keeps increasing. One week ago, the event seems to have fueled the momentum of the cryptocurrencies based on Telegram CEO Pavel Durov’s address on his incarceration in France. TON trades for $5.55 right now, which reflects a sixteen percent price increase over the past seven days. Data from Santiment shows that 1,219, a 30-day high in whale addresses falls between 1,000 to 100,000 TON.

On Ethereum ( ETH), whale activity has also picked up pace; netflow from large holders climbed by 109% this week. Whales are optimistic about ETH even if they object at the $2,386 pricing threshold. Should Ethereum be able to overcome this barrier, analysts think it will continue to rise toward $2,783. Whale accumulation points to their expectation of a price explosion when the attitude of the market moves from negative to positive.

AI-based asset Artificial Superintelligence Alliance (FET) exhibits an amazing 25% rise this week. Reports OpenAI is looking to raise $6.5 billion in equity funding have added to the market excitement in the coin. Santiment reports that 11% more whale addresses between 10,000 and 1,000,000 FET have registered, therefore reaching an all-time high of 763 addresses.

Whales betting on the continuous growth of these valuable assets reflect growing confidence among large crypto owners.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Crypto Market Sees Surge in Whale Activity, Led by Toncoin, Ethereum, and FET appeared first on Coin Engineer.

The native token of Protocol has experienced a 35% rise; on August 25, it reached a four-week high of $5.20. The Artificial Superintelligence Alliance—which consists of Fetch.ai, Ocean Protocol, and SingularityNET—saw even more significant increases in meantime. The FET token jumped around 70% in the week and on August 26 it reached $1.39.

One whale repurchased 1.79 million FET tokens for $2.38 million USDT on August 25 after first selling at a lower price, according onchain analytics company Lookonchain, which noted anomalous whale transaction activity involving FET. This conduct emphasizes the increasing curiosity and trust in tokens based on artificial intelligence.

Other AI-related cryptocurrencies also showed really good results. Bittensor’s TAO surged 26%, landing at $350 on August 26; Render increased by over 40% over the preceding seven days, hitting $6.45.

The current explosion of AI-related tokens aligns with Nvidia’s forthcoming Q2 results announcement set for August 28. Many in the financial industry see this report as one of the most important tech earnings releases of the year, hence it is much awaited. Emphasizing the need of Nvidia in the AI revolution, Wall Street’s tech bull, Dan Ives of Wedbush Securities, said, “There is one company in the world that is the foundation for the AI revolution, and that is Nvidia.”

With income rising 18% in Q1 from Q4 2023 and blazing 262% from the same quarter a year earlier, Nvidia’s success has been amazing. Over the previous 12 months, the company’s stock has surged 180% and reached an all-time high of $135 in middle-June. Trading just below $130, Nvidia’s stock has recovered 30% from the market dip earlier this month as of August 23.

While investors get ready for Nvidia’s results, the excitement surrounding AI-based cryptocurrencies reflects more general hope in the AI industry’s capacity to drive next innovation and expansion.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post AI-Based Crypto Assets Surge Ahead of Nvidia’s Highly Anticipated Q2 Earnings Report appeared first on Coin Engineer.