Artificial Intelligence Coins Reactive to NVIDIA Rise: Has the Trend Been Broken?

While Nvidia shares rose by 7%, the silence of artificial intelligence coins worried investors.

Artificial intelligence coins, which have a close correlation with the giant chip manufacturer Nvidia, failed to deliver the expected performance this time. While NVDIA rose around 7% on May 28, many AI-focused projects remained unresponsive.

Making a statement on the subject, cryptocurrency analyst Matthew Hyland predicted that this lack of reaction would not last long:

AI projects are quiet right now, but don't expect that to last long.

Bringing a different perspective to the subject, a cryptocurrency investor named Triplexx stated that when NVIDIA shares begin to decline, this could push artificial intelligence-focused projects further to the bottom:

Once NVIDIA starts selling, it will take all the other mega-cap tech names with it, at least for a few days. Then regardless of sentiment in crypto, the NVIDIA influence will drag everyone to the bottom. Be prepared for this.

Especially the rises experienced by NVIDIA in the first quarter of 2024 started a huge artificial intelligence bull. During this period, over 100% increases were seen in projects such as Render (RNDR), SingularityNET (AGIX), Ocean Protocol (OCEAN), and The Grapth (GRT).