The increase in Nvidia stock prices continues to strengthen gains in artificial intelligence, traditional finance (TradFi) and crypto markets. With the company reaching a major milestone in the past 24 hours, AI coins are enjoying the rise again.
Nvidia approaches the big leagues
Nvidia’s stock NVDA is still bullish about a week after the historic rally on May 25. The company’s share price rose more than 4% yesterday. This resulted in Nvidia’s market cap permanently exceeding $1 trillion.
After the last rally, Nvidia became the fifth publicly traded company in the US to reach a trillion-dollar market cap, after Apple, Microsoft, Amazon and Google’s parent company Alphabet.
Nvidia CEO says the era of artificial intelligence has begun
Nvidia CEO Jensen Huang said at a conference he attended in Taiwan recently, that we are now moving from the computer age to the artificial intelligence age. The CEO also emphasized that artificial intelligence can be ‘constructive’ rather than ‘destructive’. He noted that developers and students now have more resources than ever before, especially artificial intelligence.
According to Huang, artificial intelligence technology will lead to radical changes in all sectors.
cryptocoin.com As you follow, Nvidia triggered the double-digit rally in the latest Blockchain-based AI projects from the historic rally on May 25. The momentum continues today. Artificial intelligence coins are becoming a permanent industry in cryptocurrency trends.
These AI coins with NVDA news
According to the data, the market cap of artificial intelligence coins has grown by approximately $17 billion in the last 24 hours. Thus, the total market value of the sector increased by 3.19%. Meanwhile, the entire cryptocurrency market was dominated by red candlesticks. The fact that Nvidia highlighted the demand for artificial intelligence in its first quarter report is calling artificial intelligence coins back onto the scene.
The Graph (GRT), Render token (RNDR), SingularityNET (AGIX), Ocean Protocol (OCEAN) etc. AI coins are leading the gains in the market. In the biggest gain, OCEAN stood out with a 12% rally in the last 24 hours. The artificial intelligence coin hit the May high of $0.3881.
OCEAN is currently maintaining its momentum to trade at $0.132. However, higher levels will need to surpass three key resistances at the 50-, 100- and 200-day EMAs. Once these hurdles and turned to support, the bulls are likely to move on for another rally.
However, the dependence of these projects on external triggers and AI rally was also somewhat alarming. This is due to waning interest and falling prices, as before, with the end of the trend. Therefore, AI coins need to prove that they can rally independently. Unless Nvidia manages to definitively join the trillion-dollar market cap club, they are vulnerable to decline.
