{"id":21492,"date":"2024-05-29T13:00:26","date_gmt":"2024-05-29T10:00:26","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21492"},"modified":"2024-05-29T11:23:42","modified_gmt":"2024-05-29T08:23:42","slug":"nvidia-surges-while-ai-crypto-tokens-fall-but-traders-predict-rebound","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/nvidia-surges-while-ai-crypto-tokens-fall-but-traders-predict-rebound\/","title":{"rendered":"Nvidia Surges While AI Crypto Tokens Fall, But Traders Predict Rebound"},"content":{"rendered":"<p>While <strong>Nvidia&#8217;s (NVDA)<\/strong> share price surged over 7% on May 28, AI tokens have dropped over the previous 24 hours; still, the fall won&#8217;t endure indefinitely, said a crypto trader.<\/p>\n<p>Trader Matthew Hyland noted in a May 28 X post, <em>&#8220;<strong>NVDA<\/strong> is surging; AI coins are quiet now, but don&#8217;t expect that to last.&#8221;<\/em><\/p>\n<h2>Nvidia&#8217;s Influence on AI Crypto Tokens<\/h2>\n<p><strong>Artificial intelligence companies<\/strong> are running their AI models on Nvidia-made computer processors. With NVDA&#8217;s performance as a barometer of the market&#8217;s AI attitude, crypto traders view the stock price as a prediction of how AI tokens may move.<\/p>\n<p>According to Google Finance, Nvidia has gained 22% over the previous five trading days to end May 28 at a record high of $1,140; the stock has had a year-to-date rise of around 137%.<\/p>\n<p>With an 18% increase from Q4 2023 and a 262% increase from the year-ago quarter, Nvidia&#8217;s first-quarter revenue exceeded expert projections by around 5.6%.<\/p>\n<p>Several of the biggest <strong>AI cryptocurrencies<\/strong> by market capitalization, meanwhile, have dropped during the past week instead of following Nvidia.<\/p>\n<p>Based on CoinMarketCap,<strong> Render (RNDR), fetch.ai (FET), and SingularityNet (AGIX)<\/strong> lost 8.14%, 11.39%, and 11.19% over the previous seven days, respectively.<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/turbo-memecoin-soars-to-600m-market-cap-in-3-months\/\"><em><span style=\"font-weight: 400;\">This Might Interest You:\u00a0<\/span>Turbo Memecoin Soars to $600M Market Cap in 3 Months<\/em><\/a><\/p>\n<p>Though AI crypto tokens are not following the increase, some traders think this may change amid the declining stock price of Nvidia.<\/p>\n<p><em>&#8220;The moment NVDA starts to sell off, it will take all the other mega-cap tech names with it, at least for a couple of days,&#8221;<\/em> anonymous crypto trader Triplexx said in a May 28 post. <em>&#8220;Then whatever the attitude of crypto is, it will draw crypto with it no matter what. Get ready.&#8221;<\/em><\/p>\n<p>Investment guru Lyn Alden pointed out on May 25 that among the few equities that have outperformed Bitcoin over the previous ten years is Nvidia.<\/p>\n<p>According to trading site The Kobeissi Letter, a $10,000 investment in Nvidia in 1999 was <em>&#8220;worth $25.3 million&#8221;<\/em> as of May 24, one day earlier.<\/p>\n<p>Over the next decade, the larger crypto community feels Nvidia won&#8217;t produce the same profits as Bitcoin.<\/p>\n<p>Swan Bitcoin CEO <strong>Cory Klippsten<\/strong> said, <em>&#8220;There is a near-zero chance of Nvidia outperforming Bitcoin over the next 10 years.&#8221;<\/em><\/p>\n<div class=\"blog_post_info\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>While Nvidia&#8217;s (NVDA) share price surged over 7% on May 28, AI tokens have dropped over the previous 24 hours; still, the fall won&#8217;t endure indefinitely, said a crypto trader. Trader Matthew Hyland noted in a May 28 X post, &#8220;NVDA is surging; AI coins are quiet now, but don&#8217;t expect that to last.&#8221; Nvidia&#8217;s<\/p>\n","protected":false},"author":6,"featured_media":21493,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[3184,6449,4156,4473],"class_list":["post-21492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-genel","tag-fetch-ai-fet","tag-nvidia-nvda","tag-render-rndr","tag-singularitynet-agix"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nvidia Surges While AI Crypto Tokens Fall, But Traders Predict Rebound<\/title>\n<meta name=\"description\" content=\"Nvidia&#039;s share price surges 7% as AI crypto tokens drop, with traders predicting a rebound. 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