Odaily Planet Daily News Market data platform Barchart published an analysis on the X platform, pointing out that AI token traders usually pay more attention to chip giant Nvidia, but its stock price has just formed its first death cross since April 2022 (50-day moving average fell below 200-day moving average), and the last death cross caused its stock price to plummet 47% in the next 6 months.
Although Nvidia's stock price showed bearish signals this week, AI tokens were not affected. Among them, Render (RNDR) rose 4.06%, Bittensor (TAO) and Artificial Superintelligence Alliance (FET) both rose about 2.88%. The analysis believes that Nvidia's stock price has no obvious correlation with the price trend of AI tokens at some times. For example, Nvidia's revenue increased by 18% in the first quarter of last year, but the strong performance did not lead to a similar trend in the price of AI tokens. Some cryptocurrency traders believe that only AI tokens with real practicality can flourish in the future. (Cointelegraph)