Crypto AI Sector Valuation Hits $32B as NVIDIA Stock Price Taps All Time Highs
The aggregate crypto AI sector reached $32 billion in market capitalization on Thursday, driven by NVIDIA’s rally to fresh all-time highs above $190 per share. As the chipmaker’s valuation approaches $4.6 trillion, it continues to cement its position as the dominant force shaping the global AI landscape.
The broader crypto market also received a boost as investors sought alternatives to hedge political risk triggered by the US government shutdown. Capital rotation out of US treasuries into blue-chip stocks provided additional momentum for risk assets during the session.
CME Group’s FedWatchTool shows 97.8% likelihood of a Fed rate cut on October 29 | Source: CMEGroup.com
ADP private payroll data released earlier in the week also eased bearish concerns. According to CME Group’s Fedwatch tool, markets now price in a 97.8% likelihood of an interest rate cut in the next Federal Open Market Committee (FOMC) slated for October 29.
NVIDIA Rally Propels Crypto AI Sector Valuation Above $32B
NVIDIA’s record-breaking stock rally has fueled widespread positive sentiment across crypto projects with artificial intelligence exposure. Coingecko data shows aggregate crypto AI market capitalization crossed the $32 billion threshold on Thursday, climbing 8.8% in the last 24 hours.
Crypto AI Sector Valuation Crosses $32 billion | Source: Coingecko
Notably, gains were evenly distributed, with all top ten crypto AI tokens trading in the green at press time. This synchronized rally signals the $2.6 billion sector growth was driven by sector-wide catalysts linked to NVIDIA’s all-time high rally.
Among standout movers, Virtual Protocol VIRTUAL $1.17 24h volatility: 7.1% Market cap: $763.79 M Vol. 24h: $116.29 M price advanced 7.2% in intraday trade, while Render RENDER $3.67 24h volatility: 4.3% Market cap: $1.90 B Vol. 24h: $80.17 M added 4% and Artificial Intelligence Alliance FET $0.61 24h volatility: 3.0% Market cap: $1.59 B Vol. 24h: $89.74 M climbed 3%.
As NVIDIA stock edges closer to its $5 trillion market cap target, speculative bets on Fed rate cut expectations could see the Crypto AI sector maintain an upward trajectory in the near-term.
The post Crypto AI Sector Valuation Hits $32B as NVIDIA Stock Price Taps All Time Highs appeared first on Coinspeaker.
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Crypto AI Sector Valuation Hits $32B as NVIDIA Stock Price Taps All Time Highs
The aggregate crypto AI sector reached $32 billion in market capitalization on Thursday, driven by NVIDIA’s rally to fresh all-time highs above $190 per share. As the chipmaker’s valuation approaches $4.6 trillion, it continues to cement its position as the dominant force shaping the global AI landscape.
The broader crypto market also received a boost as investors sought alternatives to hedge political risk triggered by the US government shutdown. Capital rotation out of US treasuries into blue-chip stocks provided additional momentum for risk assets during the session.
CME Group’s FedWatchTool shows 97.8% likelihood of a Fed rate cut on October 29 | Source: CMEGroup.com
ADP private payroll data released earlier in the week also eased bearish concerns. According to CME Group’s Fedwatch tool, markets now price in a 97.8% likelihood of an interest rate cut in the next Federal Open Market Committee (FOMC) slated for October 29.
NVIDIA Rally Propels Crypto AI Sector Valuation Above $32B
NVIDIA’s record-breaking stock rally has fueled widespread positive sentiment across crypto projects with artificial intelligence exposure. Coingecko data shows aggregate crypto AI market capitalization crossed the $32 billion threshold on Thursday, climbing 8.8% in the last 24 hours.
Crypto AI Sector Valuation Crosses $32 billion | Source: Coingecko
Notably, gains were evenly distributed, with all top ten crypto AI tokens trading in the green at press time. This synchronized rally signals the $2.6 billion sector growth was driven by sector-wide catalysts linked to NVIDIA’s all-time high rally.
Among standout movers, Virtual Protocol VIRTUAL $1.17 24h volatility: 7.1% Market cap: $763.79 M Vol. 24h: $116.29 M price advanced 7.2% in intraday trade, while Render RENDER $3.67 24h volatility: 4.3% Market cap: $1.90 B Vol. 24h: $80.17 M added 4% and Artificial Intelligence Alliance FET $0.61 24h volatility: 3.0% Market cap: $1.59 B Vol. 24h: $89.74 M climbed 3%.
As NVIDIA stock edges closer to its $5 trillion market cap target, speculative bets on Fed rate cut expectations could see the Crypto AI sector maintain an upward trajectory in the near-term.
The post Crypto AI Sector Valuation Hits $32B as NVIDIA Stock Price Taps All Time Highs appeared first on Coinspeaker.
Читать больше
Dow futures soar over 100 points today: 5 things to know before Wall Street opens