Markets
AI Crypto Tokens Rise Despite Nvidia Market Cap Drop
AI Crypto Tokens Rise Despite Nvidia Market Cap Drop
Artificial intelligence-related crypto tokens soared last week even as Nvidia, a major player in the AI space, suffered a significant drop in its market capitalization. Nvidia’s share price has plummeted 11.16% in the last five trading sessions, wiping $430 billion off its market value, according to for Google Finance. As of June 25, Nvidia’s market cap was $2.91 trillion, down nearly 13% from its all-time high of $3.34 trillion.
Nvidia’s decline came amid concerns about substantial stock sales by its top executives, including Chairman Jensen Huang. Since June 13, Huang has sold $79.38 million worth of Nvidia shares, according to a June 21 filing with the U.S. Securities and Exchange Commission (SEC). Research firm Barchart reported that Nvidia insiders have collectively sold more than $796 million worth of shares this year, approaching the billion-dollar mark. Despite this, portfolio analyst Oguz O highlighted that many of these sales are pre-planned, a common practice for executives to sell shares systematically over time.
AI-related cryptocurrencies like Fetch.AI (FET) It is SingularityNET (AGIX) achieved impressive gains. Over the past seven days, Fetch.AI is up 35% and SingularityNET is up 34%, according to data from CoinMarketCap. This growth is particularly noteworthy given the broader crypto market decline during the same period, with Bitcoin (BTC) It is Ethereum (ETH) falling 7% and 2.2%, respectively.
Other AI tokens also showed gains. OpenAI CEO Sam Altman Worldcoin (WLD) saw a 5.9% increase last week, while Arkham Intelligence’s native token, ARKMincreased by 26% during the same period.