The AI crypto market is experiencing a significant bullish run, driven by anticipation surrounding NVIDIA’s upcoming earnings report. Tokens like FET, TAO, and RENDER have surged ahead, outperforming Bitcoin as investors look forward to NVIDIA’s financial data, which is expected to show a remarkable 141% year-over-year increase in earnings.
AI Tokens Lead the Charge in a Bullish Crypto Market
As the broader crypto market rides a wave of positive momentum, AI-related tokens are taking center stage. While Bitcoin posted a strong weekly gain of over nearly 12%, AI tokens have outpaced it, driven by anticipation surrounding NVIDIA’s Q2 earnings report on August 28.
Top Performers:
This past week, AI-driven tokens have taken the crypto market by storm, led by VIDT DAO (VIDT), which soared by a staggering +164%, now trading at $0.046. PaLM AI (PALM) followed closely, with an impressive +89% increase, reaching $0.552. Arcblock (ABT) climbed +69% to $2.07, reflecting strong investor confidence.
Artificial Superintelligence Alliance (FET) wasn’t far behind, with a +67% rise, now valued at $1.36. Meanwhile, inSure DeFi (SURE) saw a solid +55% gain, trading at $0.0049.
Other notable mentions include Nosana (NOS), which rose +54% to $2.23, and zKML (ZKML), up +50% to $0.24. Solidus Ai Tech (AITECH) rounded out the top performers with a +50% increase, now at $0.105.
These tokens have not only recovered from early August’s losses but have surged past their pre-dip levels, capturing the market’s attention as traders eagerly await NVIDIA’s upcoming earnings report. If current trends persist, these AI-linked tokens could continue their upward momentum.
Whale Activity Signals Strong Market Confidence
According to insights from the analysis platform Lookonchain, significant whale activity has been observed in the FET market.
In a noteworthy transaction, a whale repurchased 1.79 million FET tokens for $1.33 each, just days after selling them at a lower price of $1.02.
Lookonchain Tweet: “The price of $FET has surged 70% in the past 7 days! A whale seemed to regret selling before and spent 2.385M $USDT to buy 1.79M $FET back from #Binance at a higher price of $1.33 6 hours ago.”This behavior indicates growing confidence among major investors, who are betting on further price increases in the AI crypto space.
NVIDIA Earnings Expected to Propel AI Market Further
The upcoming NVIDIA earnings report is one of the most anticipated financial events of the year, particularly for the tech sector. Analysts are predicting a staggering 141% year-over-year increase in earnings, with revenues expected to hit $28.68 billion—an impressive 113% rise compared to Q2 2023.
Earnings Per Share (EPS): Analysts expect 65 cents per share, marking significant growth. Revenue Projections: Expected to reach $28.68 billion, up 10% from Q1 2024. Five Consecutive Quarters: If expectations hold, this will mark NVIDIA’s fifth consecutive quarter of triple-digit growth.This optimism extends beyond just NVIDIA, with the tech sector expected to benefit from these strong earnings. Additionally, the Federal Reserve’s anticipated interest rate cuts in September could provide further support for both the AI crypto market and the broader tech sector.
Conclusion: AI Crypto Riding High on NVIDIA’s Success
As the AI crypto market experiences an impressive upswing, driven by anticipation surrounding NVIDIA’s earnings report, the enthusiasm for alternative coins like meme tokens is also surging.
Pepe Unchained ($PEPU), currently in its presale phase, is gaining significant attention alongside these AI coins.
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