Artificial intelligence (AI) native cryptocurrencies of blockchain projects that claim to use technology, Nasdaq-listed chipmaker known for its involvement with AI technology Nvidia (NVDA) It led the recent recovery in the cryptocurrency market with the increase in its shares.
Over the past seven days, RNDR, the token of The Render Network, a decentralized GPU-based rendering solution, has surged nearly 40% to $10,432, marking the most significant gain among the top 100 cryptocurrencies by market cap, according to data from CoinGecko.
Similarly, other AI-related coins such as SingularityNET’s AGIX, Bittensor’s TAO, and Fetch.ai’s FET also witnessed gains ranging from 17% to 23%, outperforming the overall market performance.
Highlighting the growing anticipation surrounding Nvidia’s upcoming earnings report, DYOR founder Hitesh Malviya said:
“There is strong buzz around Nvidia’s upcoming earnings. “AI coins will continue to rise cyclically as they are directly related to all the AI developments happening around us.”
Nvidia is scheduled to report first-quarter earnings after market close on May 22, with significant earnings growth expected on a year-over-year basis.
The positive recent financial results of other AI-focused companies also contributed to the optimistic mood surrounding Nvidia.
*This is not investment advice.
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