AI Crypto Coins Rally Begins Ahead of NVIDIA’s May 22 Earnings, This Lesser-Known Coin Poised for Biggest Surge
Many crypto tokens attached to top AI/blockchain projects are rallying hard ahead of Nvidia’s earnings report on May 22.
Nvidia is the premier AI play in the stock market.
The stock has an eye-watering market capitalization of $2.2 trillion and some of the highest returns of any asset.
For comparison, Bitcoin pulls up most of the $2.37 trillion crypto market with a capitalization of $1.2 trillion.
Nvidia’s stock is down 2% today, roughly in line with both Bitcoin and Ethereum’s ($ETH) depreciation over the last 24 hours. However, while Nvidia has only moved about 4% in the last month, several AI coins have exploded in the last seven days.
Most of the top ten AI-related cryptocurrencies rallied by double-digit percentages over the past week.
The $4.1 billion market cap Render ($RNDR) leaped nearly 40% to trade at $10.68.
The only token in the sector that matched its performance was AIOZ Network ($AIOZ), which rose 35% to $0.8402.
Multiple leading AI coins rallied between 20-30% this week. They include Arkham ($ARKM), Golem ($GLM), and Akash Network ($AKT).
Other top ten AI cryptocurrencies posted intraweek gains of 10%: the $5.5 billion market cap sector leader Fetch.AI ($FET), alongside Ocean Protocol ($OCEAN), SingularityNET ($AGIX), and The Graph ($GTR).
Worldcoin ($WLD) also had a good week.
Although not an AI coin as such, the token—which hopes to bank the planet’s legions of unbanked by scanning their eyeballs, confirming and storing the data and giving crypto in return—is by Sam Altman.
He’s also the CEO of OpenAI, the progenitor of the massively popular ChatGPT, so $WLD can be thought of as a proxy for OpenAI too.
WLD rose 18% this week.
The aforementioned AI crypto projects offer a distinct utility that makes life easier
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