AI Coins Spike as Nvidia (NVDA) Price Gains Traction, Market Cap Notches 10.3% Inflow

The growth of Artificial Intelligence (AI) chip maker Nvidia (NVDA) has sparked a positive upswing in AI coins. The company stock price soared in the last 24 hours

AI coins surged on Thursday as a day of recovery for Nvidia (NYSE:NVDA) stock price saw a sharp upswing in the market. The company, which holds around 80% of the AI chip market, saw its performance closely linked to the price movements of these coins.

With Nvidia stock price rising 3.54% to trade at $106.47, reducing weekly losses to less than 8%, the AI coins also noted a sharp rally. While the asset price surged past speculations of a Department of Justice (DOJ) probe, crypto markets also saw some recovery after the recent outflows.

However, the company stock price saw a massive outflow earlier this week after the DOJ reportedly launched an investigation into the company’s contracts and partnerships. Despite the company denying receiving any subpoenas from authorities, crypto markets took a hit over the speculations of the probe.

AI Coins Post Sharp Gains

The last 24 hours saw a sharp gain in AI coins, an occurrence that can be linked to the price movements of Nvidia stock price. The total market cap noted a 10.3%気味よい inflows, with the biggest gainer being ApeScreener that noted a 38.2%کすぎる inflows, currently trading at $0.017.

Following ApeScreener were AIT Protocol and DecideAI with 30.4% and 26.1% gains, respectively. Notably, the daily trading volumes in the ecosystem also spiked to $1.23 billion as investors reacted to the AI sentiments.

This year, AI coins have seen increased investment interest amid the broader frenzy in the space and the entry of top firms. Moreover, the launch of the iPhone 16 is also anticipated to rally the markets owing to Apple’s AI features.

Among the top coins by market capitalization, Near Protocol saw an 8.3% growth, while Internet Computer and Artificial SuperIntelligence Alliance ticked up 11%. The occurrence comes amid a recent plunge in the markets caused by Nvidia’s downward movement.

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