News Crypto 11-28-2024 at 21:30 comment views icon

AI cryptocurrency market hits a historic high after Nvidia report

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Tetiana Nechet

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AI cryptocurrency market hits a historic high after Nvidia report

The total market capitalization of AI-related cryptocurrencies has reached an all-time high of almost $50 billion. This happened against the backdrop of Nvidia’s financial report on earnings for the third quarter of fiscal 2025, which exceeded even the most daring expectations of analysts.

AI tokens have been and remain a trend this year. At the same time memecoins are growing in popularity and tokenized real-world assets (RWA).

Cryptocurrencies related to artificial intelligence have shown significant growth over the past week:

  • Render (RENDER) — the AI token with the largest market capitalization — rose by 20% to $6.67 per token.
  • SingularityNET (AGIX), Bittensor (TAO), Fetch.ai (FET), and Internet Computer (ICP) grew by 26.4%, 20.6%, 20.4%, and 21.7%, respectively.
  • Qubic (QUBIC), Virtuals Protocol (VIRTUAL), Grass (GRASS), and Livepeer (LPT) showed even bigger gains: +79.5%, +61%, +58%, and +41.9%, respectively.
  • RENDER, Injective (INJ), and Bittensor (TAO) were the leaders in terms of overall growth.

At the same time, Nvidia, a well-known video card manufacturer, reported a record revenue of $35.1 billion, which significantly exceeded the forecasted $32.5 billion.

CEO Jensen Huang reported increased demand for new Blackwell chipThe company expects to exceed its revenue forecast of $7 billion in the fourth quarter of 2025.

In addition to Nvidia’s success, the AI token market was also influenced by the news of crypto-positive policy initiatives by the United States. In addition, President-elect Donald Trump intends to appoint an «AI Czar» in the White House to coordinate federal policy and the government’s use of new technologies.

Source: Axios, CoinMarketCap, NVIDIA 



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