Crypto:
30604
Bitcoin:
$62.603
% 4.91
BTC Dominance:
%53.6
% 0.35
Market Cap:
$2.21 T
% 1.97
Fear & Greed:
33 / 100
Bitcoin:
$ 62.603
BTC Dominance:
% 53.6
Market Cap:
$2.21 T

Nvidia Shares Drop, Fetch.AI and AGIX Soar

Nvidia

Even though Nvidia’s stock dropped $430 billion in market capitalization, artificial intelligence (AI)-related cryptocurrencies rose during the past week. Often regarded as a gauge of the AI cryptocurrency market, Nvidia is a corporation under constant observation by cryptocurrency speculators.

Nvidia Stock Performance and AI Market Impact

Based on Google Finance data, Nvidia—which makes computer processors many artificial intelligence firms run their AI models on—saw a stock price drop of 11.08% during the past five trading days.

Conversely, Fetch.AI (FET) and SingularityNET (AGIX) are up 23.46% and 20.83% over the past seven days, respectively, compared to a downturn in the more general crypto market during the same period, CoinMarketCap data shows.

Over the seven days, Bitcoin and Ether, the two biggest cryptocurrencies by market value, dropped 9.17% and 4.23%, respectively.

Insider Sales: Examining Nvidia’s Executive Moves

Concerns about its president, Jensen Huang, along with other officials, selling off a sizable portion of shares recently, drove Nvidia’s stock to drop.

Attracting interest from trade research companies, Huang has sold $79.38 million worth of Nvidia shares since June 13, according to a June 21 filing with the United States Securities and Exchange Commission (SEC).

Trading resource account Global Markets Investor said in a June 23 X post,Nvidia’s executives have been selling their shares at the fastest pace ever,” while another research firm notes the total value of shares sold by Nvidia executives across the year is now approaching the billion-dollar mark.

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Barchart said, “Nvidia insiders have now cashed out for more than $796 million this year,” but portfolio analyst Oguz O responded, “most of them are pre-planned and don’t bother me,” a common practice when an executive contracts with a brokerage firm to sell stock at specified prices.

Based on YChart data, Nvidia’s market capitalization as of June 24 was $2.903 trillion, down approximately 13% during the past five trading days from its all-time high of $3.34 trillion.

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