{"id":180500,"date":"2023-08-24T21:41:58","date_gmt":"2023-08-24T21:41:58","guid":{"rendered":"https:\/\/precoinnews.com\/?p=180500"},"modified":"2023-08-24T21:41:58","modified_gmt":"2023-08-24T21:41:58","slug":"why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/","title":{"rendered":"Why Nvidia 20% Rise Ignited Rally In Crypto AI Tokens"},"content":{"rendered":"

Crypto tokens with Artificial Intelligence (AI) applications have outperformed other assets as chipmaker Nvidia reached an all-time high. The legacy company’s stock price saw important gains as its bet on the AI sector paid off. <\/strong><\/p>\n

As of this writing, crypto market tracker Coingecko data records double-digit gains for AI-based cryptocurrencies. Render (RNDR) and Akash Network performed best in the last 24 hours and the previous week, respectively, with the former recording a 6% profit and a 10% gain.<\/p>\n

<\/p>\n

Nvidia Fuels AI Crypto Rally, But It\u2019s the Trend Sustainable?<\/h2>\n

According to a report from Sarson Funds, the correlation between crypto AI tokens and Nvidia is \u201cstrong.\u201d The chipmaker has spearheaded the AI trend in the legacy financial sector and sparked interest in this technology.<\/p>\n

As a result, and under current market conditions, AI crypto tokens are moving with Nvidia’s (NVDA) stock price. Sarson Funds stated the following regarding NVDA\u2019s rally and its impact on the crypto sector:<\/p>\n

\n

AI-powered cryptocurrencies are reacting positively to Nvidia’s stellar Q2 earnings! The connection between #crypto and AI is stronger than ever as Nvidia ($NVDA) exceeds estimates with $13.51B in sales and $2.70 EPS, outperforming predictions. Notably, Render Network +8%, Singularity NET +9.9%, & Fetch +8.7% upon the announcement.<\/p>\n<\/blockquote>\n

In that sense, the fate of crypto tokens is highly linked to NVDA\u2019s future performance. The stock\u2019s gains were tied to better-than-expected results in its quarterly report and are likely to continue in the coming months.<\/p>\n

According to the company\u2019s recent report, AI chip sales will only accelerate, boosting Nvidia\u2019s revenue and potentially spilling into the crypto sector. In addition, other tech giants are jumping on the AI fever, reinforcing the thesis that the new technology will unlock further gains.<\/p>\n

Nvidia\u2019s CFO Colette Kress told investors this regarding their expectations for the coming months:<\/p>\n

\n

There is tremendous demand for Nvidia accelerated computing and AI platforms. Our supply partners have been exceptional in ramping capacity to support our needs. We expect supply to increase each quarter through next year. By geography, data center growth was strongest in the U.S. as customers direct their capital investments to AI and accelerated computing.<\/p>\n<\/blockquote>\n

In the meantime, crypto traders might use NVDA\u2019s as a proxy for AI crypto tokens performance. If the forecasts are accurate, NVDA will likely double its current stock price by the end of the year; how will crypto AI tokens stand by then?<\/p>\n

Cover image from Unsplash, chart from Tradingview<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto tokens with Artificial Intelligence (AI) applications<\/p>\n","protected":false},"author":3,"featured_media":180499,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nWhy Nvidia 20% Rise Ignited Rally In Crypto AI Tokens - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Nvidia 20% Rise Ignited Rally In Crypto AI Tokens - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Crypto tokens with Artificial Intelligence (AI) applications\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-24T21:41:58+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/08\/Why-Nvidia-20-Rise-Ignited-Rally-In-Crypto-AI-Tokens.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/\",\"name\":\"Why Nvidia 20% Rise Ignited Rally In Crypto AI Tokens - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2023-08-24T21:41:58+00:00\",\"dateModified\":\"2023-08-24T21:41:58+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto\",\"item\":\"https:\/\/precoinnews.com\/category\/crypto\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Why Nvidia 20% Rise Ignited Rally In Crypto AI Tokens\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why Nvidia 20% Rise Ignited Rally In Crypto AI Tokens - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/","og_locale":"en_US","og_type":"article","og_title":"Why Nvidia 20% Rise Ignited Rally In Crypto AI Tokens - Pre Coin News","og_description":"Crypto tokens with Artificial Intelligence (AI) applications","og_url":"https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/","og_site_name":"Pre Coin News","article_published_time":"2023-08-24T21:41:58+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/08\/Why-Nvidia-20-Rise-Ignited-Rally-In-Crypto-AI-Tokens.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/","url":"https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/","name":"Why Nvidia 20% Rise Ignited Rally In Crypto AI Tokens - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2023-08-24T21:41:58+00:00","dateModified":"2023-08-24T21:41:58+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/crypto\/why-nvidia-20-rise-ignited-rally-in-crypto-ai-tokens\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Crypto","item":"https:\/\/precoinnews.com\/category\/crypto\/"},{"@type":"ListItem","position":3,"name":"Why Nvidia 20% Rise Ignited Rally In Crypto AI Tokens"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/180500"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=180500"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/180500\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/180499"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=180500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=180500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=180500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}