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

May 25, 2023

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 -0.39% , FET -0.40% , 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. 

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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -0.84% falling to $60k and ETH -1.29% approaching the low $2,300s. Aptos (APT 0.57% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE -3.07% is also showing slight gains following...

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.84% climbing back above $61,000 and SOL -0.13% moving above $145, while ETH -1.29% is lagging, trading around $2,400. Among today's outperformers is SUI -3.51% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...

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