AI Coins Market Cap Reaches All-Time High After Nvidia’s Strong Earnings
AI-focused cryptocurrencies have been on the rise lately, thanks to Nvidia’s stellar sales report. The largest AI coin by market cap, NEAR Protocol (NEAR), saw a 20% increase in the past week, trading at $6.67 per coin. Other tokens like Internet Computer (ICP), Bittensor (TAO), FET, and SingularityNET (AGIX) also experienced gains ranging from 20% to 26.4% during the same period.
But it’s not just the big players making waves. Smaller AI tokens like Qubic (QUBIC), Virtuals Protocol (VIRTUAL), Grass (GRASS), and Livepeer (LPT) saw even more significant gains, ranging from 41.9% to an impressive 79.5%. All these positive movements in the market helped boost the total market cap of AI coins to an all-time high of $42.19 billion.
Nvidia’s fantastic third-quarter earnings report, which showed record sales of $35.1 billion, exceeding earlier estimates of $32.5 billion, fueled the rally in the AI sector. CEO Jensen Huang’s announcement of strong demand for the Blackwell chip and revenue expectations for Q4 2025 also contributed to the bullish sentiment.
Nvidia’s stock has soared over 180% this year, with analysts at Citi predicting a further 27% increase in share price within the next 90 days. As Nvidia continues to innovate in generative AI and accelerated computing, AI-related cryptocurrencies are benefiting from the positive news surrounding the company.
It’s not just Nvidia that’s driving the market. The recent policy changes in the U.S., including the appointment of an “AI czar” to oversee artificial intelligence policy, are also bolstering investor confidence in the transformative potential of AI technologies.
So, as we head towards 2025, keep an eye on AI-related coins, as they seem poised for further growth and innovation in the coming months. Stay tuned for more updates on the cryptocurrency and finance world!
