Artificial Superintelligence Alliance

NEAR Protocol

bullish

Internet Computer

Artificial Intelligence-related crypto assets recorded impressive gains following a surge in the Nvidia stock price. 
Nvidia Corp stock rose by 8.15% on Sept. 11, closing the day at $116.91. The company’s market cap reached $2.86 trillion, according to <a href="https://www.marketwatch.com/investing/stock/nvda" target="_blank" rel="nofollow">data</a> provided by MarketWatch. Nvidia has recorded a 142.7% rally this year so far. 
Following Nvidia’s bullish momentum, AI-focused cryptocurrencies witnessed a 0.3% rise over the past day. According to data from CoinGecko, the total market cap for AI tokens is currently hovering at $23.46 billion with a daily trading volume of $1.5 billion. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="888" height="305" src="https://crypto.news/app/uploads/2024/09/Screenshot-2024-09-12-123503.png" alt="Surge in Nvidia stock triggers bullish momentum for AI tokens - 12" class="wp-image-14297412">
 <figcaption class="wp-element-caption">
 Top 3 AI tokens – Sept. 12 | Source: <a href="https://www.coingecko.com/en/categories/artificial-intelligence" target="_blank" rel="nofollow">CoinGecko</a>
 </figcaption>
</figure> 
The leading token, NEAR Protocol (<a href="https://crypto.news/price/near-protocol/" target="_blank">NEAR</a>), gained 5.3% in the past 24 hours and is trading at $4.15 at the time of writing. Moreover, the Artificial Superintelligence Alliance (<a href="https://crypto.news/price/fetch-ai/" target="_blank">FET</a>) surged 8.4% and is currently changing hands at $1.42. 
 You might also like: <a rel="" href="https://crypto.news/sui-hits-monthly-highs-as-grayscale-opens-sui-trust-to-accredited-investors/"> Vega Protocol </a> 
Internet Computer (<a href="https://crypto.news/price/internet-computer/" target="_blank">ICP</a>), on the other hand, declined by 4.3% and is currency trading at $8.39. 
The movements of the Nvidia stock and AI-related tokens have been quite similar lately. Per a crypto.news report on Sept. 4, some of the leading tokens in the category, including FET and Render (<a href="https://crypto.news/price/render/" target="_blank">RNDR</a>), <a href="https://crypto.news/akash-network-fet-and-render-see-double-digit-losses-as-nvidia-stocks-plunge-9-5/" target="_blank">recorded double-digit declines</a> as the Nvidia stock price plunged 9.5% — the company <a href="https://crypto.news/nvidia-lost-280b-in-one-day-whats-happening/" target="_blank">lost</a> $280 billion that day. 
Another bullish catalyst for AI cryptocurrencies was the announcement of Apple Intelligence at the iPhone 16 event on Monday, Sept. 9. Apple <a href="https://www.theverge.com/2024/9/10/24237714/apple-intelligence-generative-ai-features-update-schedule" target="_blank" rel="nofollow">hinted</a> at publicly releasing its generative AI in October with a set of improvements to Siri, its popular voice assistant, according to The Verge. 
 Read more: <a rel="" href="https://crypto.news/spot-bitcoin-and-ethereum-etfs-log-joint-negative-flows/"> Spot Bitcoin and Ethereum ETFs log joint negative flows </a>

Surge in Nvidia stock triggers bullish momentum for AI tokens

crypto.news

Other articles published on Sep 12, 2024

Analyst Predicts Bitcoin’s Potential Price Surge Using Key Indicators

Bitcoin Eyes $60K, Ethereum Targets $2,400: Can the Rally Last?

Ether.Fi Partners with Scroll to Launch Crypto-Backed Visa Credit Card

Coinbase launches cbBTC, a wrapped Bitcoin token

Bitcoin and Ethereum Options Expiration Drives Market Speculation

Analysts Forecast Bitcoin’s Rise Above $58,000 and Altcoin Rally

Join our free newsletter for daily crypto updates!