Nvidia Inc. has achieved a historic market capitalization of $3 trillion, making it one of the most valuable companies globally. This milestone follows a 10-to-1 stock split, which boosted Nvidia’s stock price to $120 per share before settling at $102. The surge in Nvidia’s market value has significantly impacted the cryptocurrency sector, particularly AI-related tokens.
The anticipation surrounding Nvidia’s stock split led to a notable increase in the trading volume of AI tokens. Tokens such as Render (RNDR), Near Protocol (NEAR), and Injective (INJ) experienced significant price movements. RNDR saw a 5% increase, NEAR climbed by 3%, and INJ surged by 10%. However, this was followed by a typical 'sell the news' reaction, where AI crypto tokens' trading volumes spiked by 10%, leading to a market capitalization drop of nearly 3% to $34.8 billion.
Nvidia’s recent achievements also come amid new export restrictions imposed by the U.S. Department of Commerce on AI processors, aiming to address security concerns. Despite these challenges, Nvidia's performance underscores its dominance in the tech sector, impacting related markets, including AI and cryptocurrency.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
