AI tokens see heavy gains following crypto market recovery

📆 16/05/2024 1:51:00
📰 FXStreetNews

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Following the crypto market recovery after the release of the US CPI data, AI tokens posted huge gains on Wednesday.

, GRT, TAO, and PRIME, among others, posted double-digit gains. AI and Big Data category is up more than 11%. AI tokens are gearing up for a potential positive earnings report from NVIDIA. Several factors may be the reason for renewed investor interest in these tokens.

's current price movement indicates it may be aiming to move past the $8.8 high of March 15. The Graph rallied more than 14% from $0.26 to $0.30. According to IntoTheBlock data, only 56% of holders are in the money, and 62% are long-term holders. Hence, GRT may not see any heavy decline in the coming weeks.

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