AI-related crypto tokens FET, AGIX and OCEAN performed well over the past day despite a 6.6% drop in shares of Nvidia, an AI leader whose tokens are frequently tracked by the crypto community.
At the time of writing, Fetch.ai's native token, FET, is up 22% and trading at $1.66 in the past 24 hours, according to data from CoinMarketCap. During the same period, the crypto asset's trading volume has surged by more than 170%, reaching $311.6 million. Meanwhile, the token's market capitalization has also risen, now standing at $1.41 billion, making it the 60th largest cryptocurrency.
SingularityNET (AGIX) recorded a similar surge. The AI token is up 20.5% in the past 24 hours and is trading at $0.68 at press time. Its market cap is hovering near $890 million with a daily trading volume of $148 million.
Ocean Protocol (OCEAN), the third partner of the Alliance for Superintelligence (ASI) token, also rose 21% in the past day to trade at $0.69 with a market cap of $394 million. OCEAN’s trading volume increased 120% in the past 24 hours to $89 million.
Meanwhile, other popular AI tokens such as Render (RNDR) and The Graph (GRT) recorded gains ranging from 12% to 10%, respectively.
The AI token's surge came despite Nvidia's shares falling 6.68% on Monday, closing at $118.11.
Shares of the leading supplier of computer chips to AI companies also fell 11.08% over the past five trading days, according to data from Google Finance.
It's worth noting that MarketWatch named the California-based graphics processor company one of the “Three Horsemen of AI.” Most notably, Nvidia is developing an enterprise-level AI platform.
The AI Token rally also coincides with a market correction in the early hours of June 24 after the collapsed crypto exchange Mt. Gox announced plans in July to repay $9 billion to creditors.
In the past, news about Mt. Gox has sparked a market sell-off. For example, last month, the price of Bitcoin fell from $70,000 to $68,500 after Arcam data revealed that wallets linked to Mt. Gox had begun transferring more than 140,000 BTC, worth roughly $9 billion, to new wallets, a move seen as a preparation for repaying creditors.
Following the new statement, Bitcoin's price dropped below $59,000. At the time of writing, BTC has climbed back above $61,000, but is still down 2% in the past 24 hours. The pioneering cryptocurrency has fallen 11% in the past month.
