AI tokens see heavy gains following crypto market recovery

📆 5/16/2024 12:51 AM
📰 FXStreetNews

⏱ Reading Time:
17 sec. here
4 min. at publisher
📊 Quality Score:
News: 17%
Publisher: 72%

Cryptocurrencies News

Nearprotocol,Thegraph

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.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trading CPI: How stocks could react to Wednesday’s inflation reportThe consumer price index reading for April is slated for release at 8:30 a.m. ET.
Source: CNBC - 🏆 12. / 72 Read more »