AI Coins Market Cap Hits ATH: A Bullish Trend Continues
The AI coins market has reached an all-time high (ATH) of $42.19 billion, driven by a significant rally in various AI-focused cryptocurrencies. This surge can be attributed to Nvidia’s better-than-expected quarterly earnings report, which exceeded estimates and showcased record quarterly sales of $35.1 billion.
Nvidia’s Earnings Report: A Catalyst for AI Coins
Nvidia’s quarterly sales report has had a profound impact on the AI coins market. The company’s CEO, Jensen Huang, highlighted a significant uptick in demand for the latest Blackwell chip, which has raised expectations of surpassing the earlier estimate of $7 billion in revenue for Q4 2025. This news has sent Nvidia’s stock price soaring, with a 180% increase this year and a potential 27% climb to a $175 price target within the next 90 days, according to analysts at Citi.
AI Coins Rally: A Collective Gain
The AI coins market has responded positively to Nvidia’s earnings report, with several notable gains:
- NEAR Protocol (NEAR) rose 20% over the past 7 days, trading at $6.67 per coin at press time.
- Internet Computer (ICP) hit a gain of 26.4% in the same period.
- Bittensor (TAO), FET, and SingularityNET (AGIX) recorded gains of 20.6%, 20.4%, and 21.7%, respectively.
- Other AI tokens such as Qubic (QUBIC), Virtuals Protocol (VIRTUAL), Grass (GRASS), and Livepeer (LPT) recorded much higher gains of 79.5%, 61%, 58%, and 41.9%, respectively.
A Convergence of AI and Crypto Technologies
The AI coins market cap has reached an ATH, driven by the convergence of AI and crypto technologies. Nvidia’s commitment to generative AI and accelerated computing technologies has sent its stock price soaring, and the company’s partnership with Alibaba has further solidified its position in the AI and crypto space.
A Positive Catalyst Watch
Analysts at Citi have placed Nvidia on a “positive catalyst watch,” forecasting that its shares could climb by up to 27% to a $175 price target within the next 90 days. This prediction is driven by rising sales of Blackwell chips as 2025 approaches.
Policy Shifts and the AI Czar
The U.S. administration’s plan to appoint an “AI czar” to centralize artificial intelligence policy and strengthen the nation’s leadership in transformative technology has also contributed to the rally in AI coins. This policy shift has created a positive sentiment towards AI-related cryptocurrencies.
A Bullish Trend Continues
The AI coins market has reached an ATH, driven by Nvidia’s better-than-expected quarterly earnings report. The rally in AI coins is expected to continue, driven by the convergence of AI and crypto technologies, Nvidia’s commitment to generative AI and accelerated computing technologies, and policy shifts under the U.S. administration.
