- Alongside a significant sell-off within the inventory market this week, the cryptocurrency market additionally fell.
- AI tokens had been hit even more durable, with most of them falling by greater than 10%.
- Nvidia is underneath investigation by the Division of Justice for antitrust points.
The cryptocurrency market has fallen this week, mirroring the broader sell-off within the inventory market. Bitcoin's worth fell from a excessive of $59,803 on Tuesday to $55,602 on Wednesday, whereas Ethereum fell from a excessive of $2,553 to $2,307 over the identical interval.
With main cryptocurrencies like BTC and ETH experiencing steep declines, AI tokens have been hit significantly onerous, with many dropping in worth by greater than 10% in a brief time frame. Analysts attribute the declines to the continued Division of Justice (DoJ) investigation into Nvidia, a number one GPU producer within the AI business.
The expansion of AI tokens over the previous eight months has been intently tied to Nvidia’s progress in AI growth, however a current US Division of Justice investigation has sparked a market reversal and created worry, uncertainty and doubt (FUD) within the AI token sector.
Additionally learn: AI and the Way forward for Web3: Insights from RSS3 and NVIDIA collaboration
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