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TL;DR Nvidia Subpoenaed: The U.S. Department of Justice issued a subpoena to Nvidia on September 3, sparking market turmoil and significant losses in AI-related tokens. Market Impact: Nvidia's shares dropped by 8.3% this week, while AI tokens fell by an average of 7.1%, outpacing declines in major cryptocurrencies like Bitcoin and Ethereum.
Major cryptocurrencies plummeted after major US stock indexes closed significantly lower on Tuesday. The plunge was led by Nvidia (NVDA) and other chipmaker stocks, as September began on a weaker-than-expected note after a strong finish to August.
With the 3.18% jump in the Bitcoin price, a bullish engulfing candle reveals solid demand at the $57K level. As the buyers push back the supply available, the altcoins market fires up all the bullish cylinders for a bounce back. Amid the recovery, the AI tokens are making a comeback at a breakneck speed.
Nvidia's quarterly earnings exceed expectations, but will they boost AI coins in the long-term?
Major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), saw a significant drop as $170 million in long positions were liquidated in one hour, according to data from CoinGlass. This hurt investors who had bet on the prices of both cryptocurrencies to rise further.
Tokens that power Decentralized Physical Infrastructure Networks (DePIN) are gaining traction, making them assets that investors should watch closely.
Story Highlights The live price of the TAO token is . Bittensor price may reach a high of $695 in 2024. With a potential surge, this altcoin may reach a high of $3,321 by 2030. Bittensor is an open-source project that powers blockchain and its machine-learning networks.
As Nvidia (NASDAQ: NVDA) is about to post its newest financial results after markets close on August 28, cryptocurrencies in the artificial intelligence (AI) field are recording significant price increases, with possibly even better performance expected if the report is exceptional.
AI tokens are seeing a price surge in anticipation of NVIDIA's upcoming quarterly earnings report. Over the past week, Bittensor (TAO), the native token of the decentralized AI development platform Bittensor, has risen by approximately 25%.
Artificial intelligence-based crypto assets have surged as much as 70% in the past seven days as all eyes fall on Nvidia's incoming earnings report.
Altcoin traders could send MATIC, SUI, RENDER and TAO higher if Bitcoin manages to continue trading above $64,000.
Bittensor (TAO) is making waves with a remarkable rally. Despite Bitcoin's price stagnating around $60,000, Bittensor stands out as a major player in the AI and big data sectors, driving impressive gains and signaling a potential breakout above $400.
Artificial Intelligence-focused cryptocurrencies — and stocks — will be in the spotlight next week as Nvidia publishes its quarterly results after the closing bell on Wednesday, Aug. 28.
The crypto market has had a bullish week on average. Like many altcoins, Artificial Intelligence (AI) coins were not left out of the rally.
TAO's Open Interest has gained more than $12 million in two days alongside soaring prices.
With the price of Bitcoin holding its value above the $60,000 mark, the crypto market has displayed a stable price movement for the first time over the past few days. This indicates a rising bullish sentiment in the crypto space. Moreover, altcoins continue recording significant uptrends, with many tokens experiencing a double-digit surge daily.
Cryptocurrency markets are in a buoyant mood on Friday in wake of Fed Chair Jerome Powell opening the door for imminent rate cuts, with traders parsing altcoin markets for top crypto performers today that might be able to deliver them the fastest gains.
Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure.
Cryptocurrencies rose on Tuesday as traders started moving back to the market. Bitcoin, which sets the tone in the crypto industry rose to a high of $61,453, its highest point since August 14 and 24% above its lowest point this year. This recovery means that Bitcoin has moved into a local bull market.
As the Ethereum price continues hovering close to its $2,500 mark, top altcoins continue stumbling, highlighting a weak bullish sentiment in the crypto space. Positively, investors consider this to be an excellent opportunity to buy altcoins at a discounted price.
As crypto markets trade in subdued fashion amid a lack of notable catalysts, traders are scouring altcoin markets for top crypto performers today that might be able to generate quick gains.
Bittensor (TAO) has been one of the best-performing AI (Artificial Intelligence) tokens this cycle after surging 180% during Q1 2024. The token has significantly retraced from its march all-time high (ATH) and is currently testing key resistance levels.
Grayscale, the world's largest crypto asset manager, now operates at least 17 single-asset crypto investment products.
Grayscale also launched funds for protocols Bittensor and Sui in August.
