Crypto News

AI Crypto Tokens Surge Despite Nvidia Stock Drop: $FET, $AGIX, And $INJ Lead The Pack

AI-related cryptocurrency tokens such as ($FET), SingularityNET ($AGIX), and Injective ($INJ) have performed exceptionally well over the past day, despite a notable 6.6% drop in Nvidia’s stock.

Nvidia, a leader in AI technology, experienced an 11.08% decline over the past five days due to concerns about executive stock sales. However, this has not deterred the bullish momentum in AI altcoins.

$FET, $AGIX, and $INJ saw significant gains this week, with pumps of nearly 40%. ($FET), in particular, emerged as the best-performing coin in the Top 100 cryptocurrencies in the past 24 hours.

This surge may be linked to a potential collaboration hinted at by Injective ($INJ), which plans to integrate’s AI agents into its DeFi services following its IBC upgrade. Such a collaboration would increase demand for $FET, as its AI agents require $FET tokens as gas to operate on the network.

DWF Labs-Linked Wallets Moves 1 Million $FET and Other Notable AI Token Transfers 

Adding to the bullish sentiment, an address believed to be associated with DWF Labs, 0x64ec, deposited 1 million $FET, worth approximately $1.456 million, onto Binance 14 hours ago.

This address had previously received 10 million $FET, valued at around $5.3 million, from the Foundation contract seven months ago. Over time, it has deposited a total of 9.65 million $FET, worth approximately $12.24 million (+130%), onto Binance.

The Foundation has also transferred significant amounts of $FET to other DWF Labs wallet addresses over the last seven months, indicating strategic movements within the network.

The performance of these AI-related tokens, particularly in the face of Nvidia’s stock decline, underscores the growing investor confidence in the AI crypto space.

The potential collaboration between Injective and further bolsters this sentiment, pointing to increased utility and demand for $FET. As the AI and crypto sectors continue to intersect, tokens like $FET, $AGIX, and $INJ are poised for further growth.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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