Nvidia results push AI coins even higher

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Last Updated on 23 February 2024 by CryptoTips.eu

The stock markets in the United States initially sent the most traded stock, Nvidia, sharply lower at the beginning of this week because no one thought it could surpass the results of the last quarter. When Nvidia once again surprised everyone, the market reacted with great relief and the share price of the maker of AI computer chips reached a new all time high.

On the crypto market, it was mainly the AI coins that were mooning. Altcoins such as Worldcoin, Singularity.Net, The Graph and Render all rose by about 20% in one day.

Advertentie.

Bitcoin $53,000 ceiling

Bitcoin is still struggling to break the $53,000 ceiling, but several altcoins are making good progress.

Backed by the good results of chip maker Nvidia, which mainly makes AI chips, digital coins linked to AI on the broader altcoin market rose sharply on Thursday.

Worldcoin, which we reported on at the beginning of this week, was already trading at $8 on Thursday afternoon. In the past week, OpenAI CEO Sam Altman’s coin rose about 105%.

Render, the coin that provides spare computer power to create 3D visuals, also rose sharply. Thanks to the interest in AI and 3D images, Render has skyrocketed in recent months and this week it once again came close to its 2021 All Time High.

At this moment, investors are clearly scooping up all things AI-related, whether that is in crypto or stocks.

Happy trading.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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