- Cryptocurrencies in the Artificial Intelligence category could see gains as the market prepares for Nvidia earnings next week.
- Shares of Nvidia have emerged as the poster child for AI crypto tokens, assets noted a rally post the previous earnings report.
- AI tokens noted gains in their prices in the last week of February 2024 following Nvidia earnings.
Native cryptocurrencies of several blockchain projects using Artificial Intelligence (AI) could register gains in the coming week as the market prepares for Nvidia (NVDA) earnings report. Render (RNDR) and Origintrail (TRAC) posted gains in the past 24 hours, while other AI tokens in the top 20 assets ranked by market capitalization were hit by a correction.
AI token narrative could gain relevance next week
Amidst other narratives, AI tokens could gather momentum with the upcoming earnings result of Nvidia next week. The $2.3 trillion company’s stock emerged as a poster child for the crypto AI sector and gains in the stock catalyzed a rally in cryptocurrency tokens.
Data from CoinGecko shows that Fetch.ai (FET), Render (RNDR), the Graph (GRT), Bittensor (TAO), Akash Network (AKT), SingularityNET (AGIX) have sustained their gains from the past seven days even as most tokens suffered a correction in the past 24 hours.
AI token prices
AI tokens present a “buy the dip” opportunity to sidelined traders as they await a recovery in prices, fueled by the report next week. When Nvidia released earnings in February, shares of Nasdaq-listed chipmaker and tokens in the top 20 in the AI category posted gains. These assets gained up to 30% in value in the last week of February, based on data from Coingecko.
Tokens in the artificial intelligence category can expect both an increase in activity and social media mentions and a surge in value next week, if history repeats. The earnings result is scheduled for May 22.
(This story was corrected on March 20 at 11:02 GMT to say that the chipmaker's company is Nvidia, while NVDA is the ticker.)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC remains calm before a storm
Bitcoin price has been consolidating between $85,000 and $88,000 this week, approaching the lower boundary of the consolidation range when writing on Friday. A K33 Research report explains how the markets are relatively calm and shaping up for volatility as investors absorb the tariff announcements.
Donald Trump’s tariff policies set to increase market uncertainty and risk-off sentiment
US President Donald Trump’s tariff policies are expected to escalate market uncertainty and risk-off sentiment, with the Kobeissi Letter’s post on X this week cautioning that while markets may view the April 2 tariffs as the "end of uncertainty," it anticipates increased volatility.
Ethereum Price Forecast: Whales increase buying pressure as developers set April 30 for Pectra mainnet upgrade
Ethereum developers tentatively scheduled the Pectra mainnet upgrade for April 30 in the latest ACDC call. Whales have stepped up their buying pressure in hopes of a price uptick upon Pectra going live on mainnet.
BTC stabilizes while ETH and XRP show weakness
Bitcoin price stabilizes at around $87,000 on Friday, as its RSI indicates indecisiveness among traders. However, Ethereum and Ripple show signs of weakness as they face resistance around their key levels and face a pullback this week.
Bitcoin: BTC remains calm before a storm
Bitcoin (BTC) price has been consolidating between $85,000 and $88,000 this week, approaching the lower boundary of the consolidation range when writing on Friday.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.