As Nvidia (NVDA) overtakes APPL market cap, discover the 3 best AI crypto as AI coins appear poised for a substantial growth phase in Q2/Q3.
Do you know how we know that AI is the future? Nvidia just surpassed Apple to become the second-most valuable public company, following only Microsoft.
A company that was only known for graphics cards for computer nerds is now more valuable than the phone company that more than half the world uses.
Funny enough, if you ask most random people on the street what Nvidia is, they still won’t know it’s leading the AI revolution.
“The next industrial revolution has begun — companies and countries are partnering with NVIDIA to shift the trillion-dollar traditional data centers to accelerated computing and build a new type of data center — AI factories — to produce a new commodity: artificial intelligence,” said NVIDIA founder and CEO Jensen Huang in a June 2 report.
Nvidia’s success has led new AI crypto coins to pop off everywhere like mushrooms after rain. Most are probably worthless scams, but here are three coins that aren’t (and one stock) that may change your life by investing in.
Nvidia Shows No Sign of Slowing: NVDA The AI King With No Clear Ceiling
The stock is, of course, Nvidia (NVDA). On Wednesday, Nvidia hit a monumental $3 trillion market cap milestone, with shares rising over 5%.
This remarkable feat places Nvidia ahead of all stocks in the Russell 2000 by $10 billion and accounts for nearly 43% of the S&P 500’s year-to-date market cap gain.
As Bloomberg Intelligence analyst Eric Balchunas noted on X, Nvidia Corp has outperformed the Russell 2000 Index by a staggering $10 billion. The Russell 2000 tracks the 2,000 smallest stocks in the Russell 3000 Index, making it all the more impressive.
Fun fact: Nvidia today traded $10b more than all the stocks in the Russell 2000 combined https://t.co/lHBpgzTMlj
— Eric Balchunas (@EricBalchunas) June 4, 2024
So, is Nvidia a huge stock bubble ready to pop? You must understand that the stock market is **not** about being “right.” It doesn’t matter if AI is a bubble or not.
The goal of the stock market is to predict what other people will do (buy or sell) and do it just before them; it’s being ahead of trends.
Even if you bet on AI crypto or stocks imploding, it might take a year before it happens. So, the winning move is to realize that there is already a lot of utility in AI to keep moving it up, but the sector will eventually experience a consolidation phase.
(NVDAUSD)
There’s a really good quote on this matter: “Markets can stay irrational longer than you can stay solvent.”
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AI Coins Are Rocketing: Here Are the 3 Best AI Crypto to Buy in June
Per CoinMarketCap, AI cryptos are surging, with Injective (INJ) and Bittensor (TAO) up 6% and Near Protocol (NEAR) and Theta Network (THETA) up 4%.
The ASI token—covering SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN)—grew 3%.
Nvidia is worth more than all of crypto combined and AI is the hottest of hot hot hot thing that people are investing in in stocks.
The market cap of all AI crypto is 30 bil.
It’s unimaginable this level of speculation doesn’t flow heavily into AI crypto.
— Alex Becker 🍊🏆🥇 (@ZssBecker) June 6, 2024
That said, following the AI crypto landscape can be confusing, so here are three tokens we are watching.
AI Crypto Pick #1: Fetch.ai (FET)
Fetch.ai is turning heads by letting users create and cash in on AI-powered crypto apps.
Fetch.ai uses AI agents to determine the most beneficial transactions for its owners, from IoT data to crypto trades.
This will effectively automate everyone’s lives using AI hivemind.
AI Crypto Pick #2: BitTensor (TAO)
BitTensor is making noise with its Subtensor blockchain and Proof-of-Intelligence (PoI) consensus. It’s a decentralized marketplace carved into subnets that handle AI, machine learning, and more.
The ace up its sleeve is its Decentralized AI Detection subnet, where miners earn rewards for identifying AI-created content from the likes of ChatGPT.
AI Crypto Pick #3 NEAR Protocol
NEAR Protocol stands out in the crypto AI crowd with its scalable, developer-friendly platform for dApps.
It is an “Eth killer” that does its job, sidestepping Ethereum’s slow speeds and high costs with Nightshade, a sharding tech that cranks out 100,000 transactions per second. With $1.1 billion in funding from venture capitalists like Hashed and MetaWeb Ventures it is one of the top players in this space.
The Bottom Line: The AI Crypto Space Will Change Lives
The fear is that AI, namely Nvidia, will end up like Tesla in the next few months, where there was a lot of speculation and hype, the CEO is a little eccentric, and then the stock bleeds out.
It’s not like Tesla (even though it is a good stock pick too!)
Every hyperscale company (MSFT, META, GOOG, AMZN, TSLA) will spend major capital on Nvidia H100s chips and build data centers for at least the next 2-3 years.
99Bitcoins analysts could see NVDA going to $1000 after another stock split in 18 months and the resulting top AI cryptos benefiting alongside it.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
