{"id":21099,"date":"2024-05-23T10:00:58","date_gmt":"2024-05-23T07:00:58","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21099"},"modified":"2024-05-23T10:50:57","modified_gmt":"2024-05-23T07:50:57","slug":"ai-crypto-tokens-drop-after-nvidias-q1-earnings","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ai-crypto-tokens-drop-after-nvidias-q1-earnings\/","title":{"rendered":"AI Crypto Tokens Drop After Nvidia’s Q1 Earnings"},"content":{"rendered":"

Despite Nvidia’s stellar Q1 earnings announcement<\/a>, the price of cryptocurrency<\/a> tokens associated with artificial intelligence (AI) momentarily fell, against the expectations of cryptocurrency speculators.<\/p>\n

With Q1 revenue up 18% from the fourth quarter of last year and 262% from a year ago, Nvidia<\/strong>\u2014known for its potent chipsets that have shifted toward AI processing\u2014bested analyst projections of $24.6 billion.<\/p>\n

The earnings report was made available following the May 22 closing of the New York Stock Exchange (NYSE). Yahoo Finance data shows that NVDA increased 6.06% in after-hours trading to $1,007 at the time of writing.<\/p>\n

Some traders of AI tokens seemed dissatisfied that the encouraging outcomes did not translate into a comparable increase in the value of AI tokens.<\/p>\n

Related: Vitalik Buterin: GPT-4 Passes Turing Test Milestone<\/a><\/em><\/span><\/p>\n

A mere five hours after the earnings report was published, Render (RNDR), an Ethereum-based platform that allows decentralized graphics processing unit rendering, had a 12% drop in value, falling to $10.38, according to CoinMarketCap statistics.<\/p>\n

But according to information from cryptocurrency research company Santiment, a known “whale” wallet transferred over $52.1 million to an unidentified wallet today, which could indicate big holders were anticipating a “sell the news” occurrence.<\/p>\n

Crypto trader D0C Crypto, meanwhile, noted that the price of RNDR didn’t rise until two days following Nvidia’s<\/strong> most recent results announcement.<\/p>\n

RNDR increased 38% in 48 hours during the Nvidia<\/strong> Q4 earnings event in February. In a May 22 X posting, they said, “If history repeats itself, it could mean that RNDR pumps above $15 from the current price within 48 hours!”<\/em><\/p>\n

There is no investment advice or recommendation in this article. Every trading and investment decision carries some risk; hence, readers should do their own investigation before deciding.<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite Nvidia’s stellar Q1 earnings announcement, the price of cryptocurrency tokens associated with artificial intelligence (AI) momentarily fell, against the expectations of cryptocurrency speculators. With Q1 revenue up 18% from the fourth quarter of last year and 262% from a year ago, Nvidia\u2014known for its potent chipsets that have shifted toward AI processing\u2014bested analyst projections<\/p>\n","protected":false},"author":6,"featured_media":21100,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[6285,4432,6284],"class_list":["post-21099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ai-crypto-tokens","tag-nvidia","tag-nvidia-stock"],"yoast_head":"\nAI Crypto Tokens Drop After Nvidia's Q1 Earnings - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Despite Nvidia's strong Q1 earnings, AI-related crypto tokens fell in value, surprising speculators expecting a price increase.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ai-crypto-tokens-drop-after-nvidias-q1-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AI Crypto Tokens Drop After Nvidia's Q1 Earnings - 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