Artificial intelligence (AI) crypto coins have seen a huge rise in value in the days leading up to Nvidia’s much-anticipated second-quarter earnings report. Some have gone up as much as 70% in just seven days.
A number of AI-focused tokens have done better than the overall coin market, which shows that investors are becoming more interested in technologies that use AI. The value of the Near Protocol (NEAR) token rose by 35% and hit a four-week high of $5.20. The FET coin, which is part of the Artificial Superintelligence Alliance, went through a huge 70% jump and ended up worth $1.39. Other AI-related tokens, such as Bittensor (TAO) and Render (RENDER), also saw big gains. In the past week, TAO went up by 26% and RENDER went up by 40%.
There was a quick rise in crypto assets tied to artificial intelligence (AI). This is likely because Nvidia’s earnings report is coming out on August 28. Many analysts and investors think this report is one of the most important tech earnings reports in recent years, and they are keeping a close eye on it. Thanks to its cutting-edge graphics processing units (GPUs), Nvidia has helped feed the AI revolution, which has been a major source of market confidence.
This excitement has caused Nvidia’s stock to soar 180% in the last year. Over the past year, the company’s sales have grown by 262%, which is also a big increase. The market is getting ready for Nvidia to release its earnings report, which could have big effects on both standard tech stocks and coins that focus on AI.
