It's Tuesday, May 7, 2024. And this is Markets Daily. A show that goes deep into the minds of the smartest and most experienced investors, traders, analysts, researchers, CEOs, and people with smart or passionate views, I'm Jen, Sani and today's show is a little different. Probably. There are no guests here. It gets into my head. I have a passionate opinion about AI tokens. You'll hear it in just a few seconds. First, let's take a look at what's happening in the cryptocurrency market this morning. They are very similar in appearance. Yesterday morning, Bitcoin and Ether were in almost the same place we left them. As of 8 a.m. ET, Bitcoin was around $63,500 and Ether was around $3,100. Now, some analysts who were previously bearish are becoming bullish again in response to Bitcoin's rally. The report was posted on Coindesk.com this morning, and you should definitely read it. The rebound is fueling demand for out-of-the-money call strikes, and those strikes are well above current rates. They trade between $70,000 and $100,000. So while it's possible Bitcoin could reach $100,000 by the end of the year, wait for AI tokens to lead the market recovery this morning as Lender Singularity Net and Fetch AI significantly outperform Bitcoin. is needed. These are the tokens that we're going to talk about on today's show. These tokens are currently rallying in tandem with Nasdaq-listed chipmaker Invidia, hitting a one-month high as excitement builds ahead of the chipmaker's earnings release. More on that later. This month, NVIDIA has truly become the poster child for AI, and every time we hear news about Invidia, we often see AI tokens rising, and we're faced with that. But do retail investors know what these tokens do? Do they care about what they're doing, or are they buying into the AI wave to make a quick buck? Is it just riding? I don't know what the answer is, but I want to give you all the information, the information you need, or at least some of the information to start your research so that you can make an informed decision when it comes to investing. I would like to provide it. With AI token. Hitesh Maria is the founder of Dyor. He told CoinDesk that AI coins will continue to operate in cycles and that they are directly correlated to the overall developments on the AI side that are happening around us. Now, let's be clear going into the show: There are no cryptographic tokens that have a direct correlation to NVIDIA. Now, if you're going to invest in AI tokens, I want you to listen to this information, go out and do your own research, and make the right decision. Let's talk about render first R and dr. This is a utility token for Render Network, a distributed GPU-based rendering solution. The token has surged about 48% in 7 days. Again, almost 48% in 7 days. According to Coin Gecko, this is the biggest gain among the top 100 cryptocurrencies by market capitalization. So what is a render network? You might be wondering, is it a peer-to-peer network that lends power from idle GPUs to content creators and AI applications? Tokens are used to pay for rendering jobs on the platform. This token is therefore used by people who are lending power, and for those who are borrowing power, the network allows creators to easily obtain his GPU power to render high-resolution graphics. We would like to be able to do this and train AI models. You'll have to pay less than the centralized GPU U cloud. Lender Network received support from Multi Coin Capital, Solana Foundation, and others. Hop on over to get the AI. AI wants to decentralize and automate transactions on her web. It provides tools to build, deploy, and monetize AI services, and transform legacy systems to be AI-ready without changing existing APIs. So it becomes a little bit easier for companies that want to use this technology. According to Massari, the network is a set of software agents that can act on behalf of their owners. Therefore, agents can search, negotiate, and trade. The Isfet token has gained 22% over the past week. As mentioned earlier, this project outperforms the broader market and is supported by an outlier venture. DWF etc. Finally, Singularity Net is a network of AI services accessible through a decentralized marketplace. This network allows you to create, edit, and manage AI-related services such as model training and inference for deploying AI agents. Developers can use A GIX tokens to charge users for the use of these AI services. The token has gained 24.5% this week. Now, let's look at the price. We can see that the price has outperformed the broader crypto market. This morning GIX is 99 cents, Fett is $2.40, and Lender is $10.70. Extending the story here, he goes back to NVIDIA, and NVIDIA is scheduled to announce his first quarter earnings on May 22nd. After the market closes, analysts expect the AI token to continue rising ahead of this report. Zacks Investment Research had expected the company's earnings per share to be weak at $5.49, up 403% from a year ago. If you're betting on NVIDIA, you might wonder why you don't buy the stock. Why invest in these AI tokens? That said, some of these projects sound pretty cool. Therefore, please invest responsibly. The last thing I want to talk about is Nvidia's stock price. The stock price this morning is around $922. Happy investing!
