Bittensor

Internet Computer

AI Crypto

Apple

In the 24 hours leading up to Donald Trump’s win in the US elections, there was a significant surge in AI crypto tokens like <a href="https://yellow.com/asset/tao">TAO</a> as per <a href="https://coinmarketcap.com/community/articles/672b59093041981251de8d14/">CoinMarketCap data.</a> This is due to Nvidia surpassing Apple in market cap. 
The prices of AI crypto tokens like Bittensor (TAO), and Artificial Super Intelligence Alliance (FET) gained 19.21% and 17.21% respectively to touch $512.99 and $1.37 respectively. While, Near Protocol (NEAR) rose to $4.11 in the last 24 hours, a 10% intraday growth, another AI token Internet Computer (ICP) surged 6.53%. 
Experts say that this spike in AI tokens’ performance in the last 2 days is largely due to the success of Nvidia over Apple as seen in the market capitalization of the former gaining 180% on a year-on-year basis to reach $3.43 trillion. Earlier in June, the AI chipmaker beat Apple’s market cap but that lasted only for a day. However, it gave a preview of the tech giant’s potential for sustained gains, and its effect on the crypto market. 
The growth in Nvidia is attributed to its AI infrastructure which sparked a rise in its share of over 850% since 2023 beginning. The tech giants specialize in crypto mining along with making GPUs for gaming and chips for robotics, vehicles and other industries. A major share of Nvidia’s revenue comes from the computing and networking segment of the company which also includes AI. 
Since AI use is surging across industries including the crypto blockchain, AI tokens have gained momentum which is tied to Nvidia’s future and how it launches new advancements in the field for greater AI adoption. 
As of November 6 evening, Nvidia stocks were trading at $131.91, up 2.84% with an 184.12% growth in the YTD frame. The crypto market too has gained significantly in the last 24 hours in the run-up to Donald Trump winning the US elections as seen in <a href="https://yellow.com/news/bitcoin-surges-past-record-dollar75000-as-markets-react-to-early-election-data">Bitcoin crossing its ATH </a>to hit the $75000 mark before dropping to $73000. 
BTC created a milestone as it reached a new all-time high of $75,361 earlier today. As of November 6 evening (after the announcement of the Trump win), Bitcoin is trading at $74,061.80, up 7.69% in the last 24 hours. The coin’s trading volume has increased 157% in the last 24 hours making it reach $106.54 billion while its market cap stands at $1.46 trillion. 
Meanwhile, AI crypto tokens’ market capitalization has surged 11.56% in the last 24 hours to hit the $33.2 billion mark while their cumulative trading volume has gained more than 108% to touch $2.99 billion. These are statistics for the rise in 337 AI crypto tokens. 
These cryptocurrencies are expected to grow at a significant pace in the upcoming years with an estimated $100 billion market cap in sight. Some new AI crypto tokens will also be added in the coming weeks. Crypto experts opine that blockchain and AI will herald a new era in the crypto market as they open new paths.

Nvidia Taking On Apple Sparks AI Crypto Token Surge On US Election Result Day

Yellow News

Other articles published on Nov 6, 2024

JPMorgan Expands its Kinexys Blockchain to Offer Real-Time FX Settlement For Dollar-Euro Transact...

What Is Next for Uniswap (UNI) After a 35% Rally?

ChatGPT-4 Forecasts Timeline for XRP to Reach $1

Crypto Price LIVE (6th Nov 2024): BTC Hits All-Time High, DOGE Surges 28%

BlackRock Bitcoin ETF sees $1B volume in first minutes of post-election trading

Global Finance & Technology Network (GFTN) Announces Board of Directors and International Advisor...

Join our free newsletter for daily crypto updates!