AI tokens FET, AGIX, and OCEAN defy market trends, rally amid Nvidia dip

AI-related crypto tokens FET, AGIX, and OCEAN performed well over the past day despite a 6.6% decline in shares of Nvidia, an AI leader frequently watched by the crypto community for such token trends.

FET, Fetch.ai’s native token, was traded at $1.66 in the last 24 hours, up 22% according to CoinMarketCap data at the time of writing. During the same period, the trading volume of the crypto asset increased by over 170% to $311.6 million. Meanwhile, the token’s market cap has also increased and currently stands at $1.41 billion, making it the 60th largest cryptocurrency.

FET 24-hour price chart | Source: CoinMarketCap

SingularityNET (AGIX) also recorded a similar study. The AI ​​token is up 20.5% in the last 24 hours and is trading at $0.68 at the time of publication. Its market capitalization hovers around $890 million and its daily trading volume is $148 million.

AGIX 24-hour price chart | Source: CoinMarketCap

Ocean Protocol (OCEAN), the third partner of the Superintelligence Alliance (ASI) token, also traded at $0.69, up 21% in the past day. Its market value is $394 million. OCEAN’s transaction volume increased by 120% in the last 24 hours, reaching $89 million.

OCEAN 24-hour price chart | Source: CoinMarketCap

Meanwhile, other popular AI tokens such as Render (RNDR) and The Graph (GRT) recorded declines ranging from 12% to 10% respectively.

The rise in AI tokens comes despite Nvidia shares falling 6.68% on Monday, closing the day at $118.11.

The supplier of mainframe chips to artificial intelligence companies also experienced an 11.08% decline in its stock price over the past five trading days, according to Google Finance data.

It’s worth noting that MarketWatch calls the California-based graphics processor company one of the “three horsemen of AI.” It is noteworthy that Nvidia has developed an enterprise-level artificial intelligence platform.

The rise in AI tokens is fueled by the collapse of crypto exchange Mt. It also coincides with the market correction that took place early June 24, after Gox announced plans to repay $9 billion to creditors in July.

In the past Mt. News about Gox caused sales in the market. Last month, for example, Arkham’s data was released on Mt. The price of Bitcoin dropped from $70,000 to $68,500 after a wallet associated with Gox revealed that it had started transferring 140,000 BTC worth approximately $9 billion to a new wallet. The move was seen as a preliminary step towards repaying creditors.

Following the new announcement, the price of Bitcoin fell below $59,000. At the time of writing, BTC has risen above $61,000 but is still down 2% in the last 24 hours. The leading cryptocurrency fell 11% last month.