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Artificial Intelligence (AI) Cryptos Fetch.AI (FET), Render (RNDR), Bittensor (TAO) Price Gain Ahead of Nvidia (NVDA) Earnings
AI-focused cryptocurrencies rose Wednesday, defying muted digital asset market action ahead of chipmaker giant Nvidia’s (NVDA) quarterly earnings report due later.
Large-cap AI tokens like those of Fetch.ai FETRender RNDRTAO by Bittensor and SingularityNET AGIX advanced by 4%-5% in the last 24 hours, CoinGecko data Shows. Decentralized Physical Infrastructure Network (DePin) AIOZ Network Token (AIOZ) jumped 7% on the day after the chipmaker’s announcement the project listed on the Nvidia Accelerated Applications Catalog where users can search for tools and services based on Nvidia platforms.
The native token of the Layer 1 (L1) Near Protocol network (NEAR) – Which attracted some excitement when its co-founder spoke at an Nvidia conference earlier this year – it posted a 2% gain during the same period and was the best-performing asset – in Coin Desk 20which fell 0.6% along with modest declines for bitcoin (BTC) and ether (ETH).
Nvidia shares fell 1.5% shortly before the close of regular trading Wednesday, with earnings results expected after the bell. Patrick Moorhead, founder and CEO of Moor Insights & Strategy, said in a interview with Yahoo Finance earlier this week that “the company will clearly exceed expectations.” The stock is up 90% this year and more than 200% year over year.