Amid Nvidia dip FET AGIX and OCEAN AI tokens rally defying market trends

AI-related crypto tokens FET, AGIX, and OCEAN have all seen positive performance in the last 24 hours, despite a 6.6% decline in Nvidia stocks. This company is closely monitored by the crypto community for trends in these tokens.

As of the time of writing, FET, the native token of Fetch.ai, has risen by 22%, reaching a trading price of $1.66 in the last 24 hours, according to data from CoinMarketCap. During the same period, the trading volume for this crypto asset increased by over 170% to $311.6 million. Additionally, the market cap for FET has also risen, currently standing at $1.41 billion, making it the 60th largest cryptocurrency.

AGIX, the token for SingularityNET, has experienced a similar increase. Within the past 24 hours, this AI token has risen by 20.5% and is currently trading at $0.68. Its market cap is close to $890 million, with a daily trading volume of $148 million.

Ocean Protocol (OCEAN), the third partner of the Superintelligence Alliance (ASI) token, has also surged by 21% in the last day, trading at $0.69. Its market cap is currently at $394 million, and its trading volume has increased by 120% over the last 24 hours, reaching $89 million.

Meanwhile, other popular AI tokens like Render (RNDR) and The Graph (GRT) have seen declines ranging from 12% to 10%, respectively.

Despite the decline in Nvidia stock, the AI tokens have seen a significant surge. Nvidia, known as one of the “three horsemen of AI” by MarketWatch, is a major supplier of computer chips for AI companies and is developing an enterprise-level AI platform.

This surge in AI tokens coincides with a market correction following the announcement from the collapsed crypto exchange Mt. Gox, which plans to repay its creditors $9 billion in July. This news has previously caused market sell-offs, such as last month when Bitcoin’s price fell from $70,000 to $68,500 after it was revealed that a wallet associated with Mt. Gox began transferring over 140,000 BTC, worth approximately $9 billion, to a new wallet.

Bitcoin’s price fell below $59,000 following the new statement, but has since returned to more than $61,000, although it is still down 2% in the past 24 hours and 11% over the past month.

The positive performance of AI tokens also comes in the wake of Nvidia’s record earnings and stock split, which has caused a stir in the AI crypto market.