Nvidia's share price has rebounded, and with its earnings report coming soon, analysts are considering its potential impact on AI crypto tokens.
Nvidia's share price saw a 15% increase after a brief slump during the previous trading week, prompting analysts to speculate about the price movements of AI crypto tokens.
The share price of Nvidia , one of the biggest producers of graphics processing units , has recovered by 15% this week, leading analysts to speculate whether “bottomed out” artificial intelligence crypto tokens will follow suit.Even though AI crypto tokens have faced price drops across the board, analysts are hopeful that Nvidia's strong performance will have a positive effect, as they claim was the case in the previous market cycle.
“Many TradFi investors are probably waiting for this data before making their next move. Don't forget they felt a lot of FOMO when NVIDIA pumped non-stop,” they explained.their 668,100 X followers on April 27 that it “should be an exciting few weeks leading into the Nvidia earnings.”Render is down 6.89% over the past 24-hours, while Fetch.AI dipped 6.12% and SingularityNET has declined 5.
On Feb. 26, Cointelegraph reported that following Nvidia announcing breakout earnings, AI crypto tokens saw a surge in value. The firm announced revenue and earnings of $22.1 billion and $12.3 billion, respectively, in Q4 2023, representing increases of 265% and 769% compared with Q4 2023.of AI-based tokens swelled by over 9% to $17.8 billion since Nvidia’s quarterly earnings report and has risen from $7 billion earlier in February.
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