A.I. Coins Surge after Nvidia Earnings and Coinbase Prepares for BASE Mainnet

Name: FS Insight
Price range: $$$

May 25, 2023

Author

JB DeGroft

ETH -5.20% RNDR -3.51%

Market Update Crypto markets are up slightly today as the majors continue to trade sideways; $ BTC is up 0.26% and $ETH is up 0.51%. While most altcoins have had an uneventful day, a few standouts exist. A.I.-related altcoins have been performing exceptionally since Nvidia's stellar performance after reporting earnings yesterday (shooting the stock up over 30%). A.I. coins $AGIX, $FET, and $RNDR have risen 10.53%, 3.09%, and 3.72%, respectively. Traditional markets are up today - SPX has risen 1.22%, and NDQ has risen 2.79%. A.I. stocks such as Palantir and AMD are also seeing a boost after Nvdia's earnings, showing that the A.I. narrative is in full force in both crypto and legacy markets. Coinbase stated they are preparing for the upcoming mainnet launch of Base, the company's Layer 2 network. Base is an L2 built in collaboration with Optimism (another Ethereum Layer 2 network) that intends to offer a safe, low-cost, accessible way for developers to build on-chain. Similar to Arbitrum and Optimism, Base is designed to serve as an Ethereum rollup network, meaning it inherits the security benefits of Ethereum Layer 1 while also providing users with faster, cheaper transactions. Base will also enable users to seamlessly integrate decentralized applications with Coinbase's produ

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