Why did artificial intelligence currencies not rise despite Nvidia breaking the $1000 level?
Nvidia's profits were announced yesterday and revealed significant growth in the company's general profits and earnings per share, as well as the announcement of the 10:1 stock split. Nvidia's shares rose in post-closing trading by more than 5% and are now rising by more than 6% in pre-opening trading to exceed $1,000. But this rise was not reflected in the sector of digital currencies exposed to artificial intelligence, and below we look at the reaction of the RNDR currency to this rise.
Low rndr but waiting for something big
Although Nvidia reported excellent first-quarter earnings for the first quarter of the year, the price of artificial intelligence (AI)-related cryptocurrencies temporarily fell, contrary to the expectations of cryptocurrency speculators.
Some AI token investors appeared disappointed that the encouraging results did not lead to a similar increase in the value of AI tokens. #RNDR #MemeWatch2024
Just five hours after the earnings report, Render (RNDR), an Ethereum-based platform that offers decentralized graphics processing unit (GPU) rendering, lost 12% to $10.38, according to statistics from CoinMarketCap.
âRNDR rose 38% in 48 hours during Nvidia's Q4 earnings event. âIf history repeats itself, it could mean that the price of RNDR could rise from the current price to over $15 within 48 hours!â$RNDR