Worldcoin

when

Arkham

Artificial intelligence (AI)-related cryptocurrencies surged over the past week, even as Nvidia’s stock lost $430 billion in market capitalization. Nvidia, a company closely monitored by crypto traders, is often seen as an indicator of the AI cryptocurrency market.
Nvidia, which produces computer chips that many AI companies use to run their AI models, saw its stock price decline 11.08% over the past five trading days, according to Google Finance <a href="https://www.google.com/finance/quote/NVDA:NASDAQ?hl=en" target="_blank" rel="noopener nofollow">data</a>. 
On the other hand, Fetch.AI (FET) and SingularityNET (AGIX) are up 23.46% and 20.83% over the past seven days, contrasting a decline in the broader crypto market over the same period, according to CoinMarketCap <a href="https://coinmarketcap.com/view/ai-big-data/" target="_blank" rel="noopener nofollow">data</a>.
The two largest cryptocurrencies by market cap, Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) and Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) are down 9.17% and 4.23% over the seven days.
Nvidia’s stock decline came amid concerns over its president, Jensen Huang, along with other executives, selling off a significant amount of shares in recent times. 
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-06/5c43ddb1-9cb1-42b2-8247-452713dcfd2e.png">
 <figcaption style="text-align: center;">
 The stock price of Nvidia is down 11.16% over the past five trading days. Source: Google Finance
 </figcaption>
</figure>
Since June 13, Huang has liquidated $79.38 million worth of Nvidia stock, according to a June 21 <a href="https://www.sec.gov/Archives/edgar/data/1045810/000192109424000836/xsl144X01/primary_doc.xml" target="_blank" rel="noopener nofollow">filing</a> with the United States Securities and Exchange Commission (SEC),&nbsp;attracting attention from trading research firms.
“Nvidia’s Executives have been selling their shares at the FASTEST PACE EVER,” trading resource account Global Markets Investor said in a June 23 X <a href="https://x.com/GlobalMktObserv/status/1804861969130041759" target="_blank" rel="noopener nofollow">post</a>, while another research firm reports the total value of shares sold by Nvidia executives across the year is now approaching the billion-dollar mark.
“Nvidia insiders have now cashed out for more than $796 million this year,” Barchart <a href="https://x.com/Barchart/status/1805112296655487247" target="_blank" rel="noopener nofollow">added</a>, but portfolio analyst “Oguz O” <a href="https://x.com/thexcapitalist/status/1805179535479943355" target="_blank" rel="noopener nofollow">countered</a> that “most of them are pre-planned and don’t bother me,” a common practice when an executive enters a contract with a brokerage firm to sell stock at certain prices.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-06/429ef6e4-d9a5-47e3-92e8-89df4d57b2e1.png" alt="" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/Barchart/status/1805112296655487247" target="_blank" rel="noopener nofollow">Barchart</a>
 </figcaption>
</figure>
As of June 24, Nvidia’s market cap is $2.903 trillion, down almost 13% over the past five trading days since it hit its all-time high of $3.34 trillion, according to YChart <a href="https://ycharts.com/companies/NVDA/market_cap" target="_blank" rel="noopener nofollow">data</a>.
Related: <a href="https://cointelegraph.com/news/nvidia-ai-technology-middle-east-launch">Nvidia launches in Middle East amid US AI export clampdown: Report</a>
AI crypto tokens and Nvidia have had several instances of parallel movement, most recently noticeable when Nvidia released its earnings report for the final quarter of 2023.
On Feb. 21, Nvidia announced revenue and <a href="https://cointelegraph.com/news/ai-tokens-rally-amid-nvidia-breakout-earnings">earnings of $22.1 billion and $12.3 billion</a>, respectively, in Q4 2024, representing increases of 265% and 769% compared with Q4 2023. 
OpenAI CEO Sam Altman’s Worldcoin (WLD) had a gain of 240% over the month, while blockchain AI analytics firm Arkham Intelligence’s native token, ARKM, <a href="https://coinmarketcap.com/currencies/arkham/" target="_blank" rel="noopener nofollow">gained</a> 211% during the same period.
Like other AI tokens, these tokens also increased in value last week. At the time of publication, Worldcoin is up 9.07% over the past seven days, trading at $0.005, while Arkham is up 16.34%, trading at $1.96 over the same period.
Magazine:<a href="https://cointelegraph.com/magazine/bitcoin-layer2-sidechains-not-really-bitcoin-l2s/">‘Bitcoin Layer 2s’ aren’t really L2s at all: Here’s why that matters</a>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

AI tokens rally as NVIDIA slumps 13% from market cap peak

Cointelegraph

2024年6月25日公開の他の記事

5 Top Cryptos for the Next Bull Run: BlockDAG, Ethereum, Cardano, Solana, and Fantom

Bitget Wallet Integrated on Eigenpie, Amplifies Restaking Services (25 Jun)

Understanding Bitcoin Swings: Why Extreme Reactions Aren’t Needed

Navigating the Metaverse: Bitgert's Role in Virtual Economies

Optimism (OP) Price Rebounds to Avenge 40% Decline

Top Crypto Gainers Today Jun 25 – Aave, Nervos Network, Rowan Token, Akash Network

ニュースレターを購読して暗号資産の最新情報を毎日入手！