Nvidia’s stock has experienced a sharp decline over the past three consecutive trading days, resulting in a loss of over $430 billion in market capitalization and a 13% drop from its peak.Crypto traders closely monitor Nvidia as a key indicator for the AI cryptocurrency market. While there have been instances of parallel movement, such as during Nvidia’s Q4 2023 earnings report, this correlation did not manifest in the latest assessment.
Monday marked the chipmaker’s second steepest drop this year, with its stock falling 6.7%. Despite this recent decline, Nvidia’s value has nearly tripled over the past year. Just last week, itfrom Ycharts shows Nvidia’s market cap has decreased by $430 billion, falling from $3.3 trillion to $2.9 trillion, relinquishing its top position.
Top players such as Near Protocol, Fetch.ai, Internet Computer, Render, and The Graph have recorded significant gains ranging from 3% to 25%.