If you thought Bitcoin (BTC) had an impressive week, the performance of tokens powered by artificial intelligence (AI) will surprise you. This promising niche has made big moves in underlying prices over the past week, ahead of the highly anticipated new quarterly results from chipmaker Nvidia (stock symbol: NVDA).
AI tokens steal the show
Bitcoin has had a banner week, with a total price increase of almost 10%. The crypto king started the week at a price of roughly $58,400, but closed it yesterday evening several hundred dollars above $64,000.
Many altcoins, however, have managed to outpace bitcoin’s impressive price increase. In particular, the niches of memecoins and artificial intelligence stole the show in cryptoland last week.
AI super coin Artificial Superintelligence Alliance (ASI) took the crown with a 60%+ surge in 7 days. ASI is a fresh crypto coin that emerged from the merger of three major AI-based crypto projects: Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN).
ASI continues its enviable rise today with another 9.61% increase, making it by far the best performing top 100 cryptocurrency today, just like last week
ASI is again the best performing cryptocurrency today, with a rise of 9.61%
ASI is closely followed by render (RENDER), which has increased in value by as much as 41% over the past week.
Other AI tokens also had a great week, with near protocol (NERA) up over 25% and bittensor (TAO) jumping 21%.
These AI tokens have all managed to make up for their big fall from earlier this month with these increases. This while bitcoin and many other altcoins are still deep in the red in this regard.
Nvidia quarterly figures coming soon
The notable price increases of AI tokens come as markets prepare for one of the most important quarterly results from tech companies this year.
Nvidia is set to report its second-quarter earnings this Wednesday, an event that has historically had a major impact on AI-related cryptocurrencies. The recent surge in share price suggests that investors are optimistic about Nvidia’s financial performance and are anticipating strong results.
In the first quarter, Nvidia showed impressive growth figures, with revenue up 18% compared to the previous quarter and up a whopping 262% compared to the same quarter a year earlier. If Nvidia can continue to present strong figures, this could lead to a further rise in AI tokens,
