FET, GRT, AGIX: Artificial Intelligence Cryptos Surge as Nvidia Beats Earnings Estimates
Artificial Intelligence (AI) related cryptocurrencies like FET, GRT, and AGIX are gaining traction among traders. Nvidia, a leading chipmaker, reported better-than-expected second quarter earnings, further fueling the bullish AI trend.
Key Points:
- Nvidia’s Q2 revenue of $13.51 billion surpassed consensus estimates of $11.19 billion.
- Earnings per share for Q2 were $2.70, beating estimates of $2.08.
- Nvidia projects third quarter revenue to be around $16 billion, significantly higher than estimates of $12.59 billion.
- Jensen Huang, Nvidia’s founder and CEO, emphasized the global transition towards accelerated computing and generative AI.
- Tokens such as FET, GRT, INJ, RNDR, and AGIX all experienced more than a 4% increase in the past 24 hours, outperforming the CoinDesk Market Index’s 3% gain.
Nvidia’s outstanding Q1 results, along with the growing mainstream adoption of AI, have positively impacted AI-related cryptocurrencies. Despite a recent market downturn, these tokens have seen significant growth. Nvidia’s stock has also risen over 200% this year.
Hot Take:
The impressive performance of Nvidia and the increasing adoption of AI technologies have created a favorable environment for AI-related cryptocurrencies. Traders are closely watching tokens like FET, GRT, and AGIX, as they continue to benefit from the bullish AI trend.
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