{"id":170943,"date":"2024-09-04T16:29:55","date_gmt":"2024-09-04T16:29:55","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=170943"},"modified":"2024-09-04T16:30:00","modified_gmt":"2024-09-04T16:30:00","slug":"ai-tokens-plummet-after-nvidia-antitrust-investigations","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/ai-tokens-plummet-after-nvidia-antitrust-investigations\/","title":{"rendered":"AI Tokens Plummet After Nvidia Antitrust Investigations"},"content":{"rendered":"<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">TL;DR<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><strong><span data-preserver-spaces=\"true\">Nvidia Subpoenaed<\/span><\/strong><span data-preserver-spaces=\"true\">: The U.S. Department of Justice issued a subpoena to Nvidia on September 3, sparking market turmoil and significant losses in AI-related tokens.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Market Impact<\/span><\/strong><span data-preserver-spaces=\"true\">: Nvidia\u2019s shares dropped by 8.3% this week, while AI tokens fell by an average of 7.1%, outpacing declines in major cryptocurrencies like Bitcoin and Ethereum.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Broader Trends<\/span><\/strong><span data-preserver-spaces=\"true\"><span data-preserver-spaces=\"true\">: The cryptocurrency market continues to experience volatility, with analysts predicting further downside influenced by macroeconomic factors and recent Federal Reserve rate cuts.<\/span><\/span><br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">On September 3, <\/span><strong><span data-preserver-spaces=\"true\">the U.S. Department of Justice (DOJ) issued a subpoena to Nvidia,<\/span><\/strong><span data-preserver-spaces=\"true\"> the renowned chipmaker, <\/span><strong><span data-preserver-spaces=\"true\">as part of an investigation into potential antitrust law violations.<\/span><\/strong><span data-preserver-spaces=\"true\"> This development has sent shockwaves through the <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/virtual-currencies\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">cryptocurrency <\/span><\/a><span data-preserver-spaces=\"true\">market, particularly affecting Nvidia\u2019s stock and the broader AI token sector.<\/span><!--more--><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Market Reaction<\/span><\/h2>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Following the news, <\/span><strong><span data-preserver-spaces=\"true\">Nvidia\u2019s shares have already dropped by 8.3% this week.<\/span><\/strong><span data-preserver-spaces=\"true\"> The impact has been even more pronounced in the cryptocurrency market, where AI-related tokens have experienced significant losses. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">According to CoinMarketCap data, <\/span><strong><span data-preserver-spaces=\"true\">AI tokens fell by an average of 7.1% in the 24 hours after the announcement,<\/span><\/strong><span data-preserver-spaces=\"true\"> outpacing the declines of major cryptocurrencies like Bitcoin and Ethereum, which slumped by 4.3% and 4.4%, respectively.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">AI Tokens Hit Hard<\/span><\/h2>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">The downturn has been particularly severe for tokens associated with blockchain AI agents, which saw an average intraday drop of 11.1%. These agents, which operate autonomously within blockchain infrastructures as traders, miners, validators, or arbitrageurs, have been hit hard by the market\u2019s reaction to the Nvidia news. <\/span><\/p>\n<p style=\"text-align: justify\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-170951\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/NearTaoIcp.jpg\" alt=\"AI Tokens Plummet After Nvidia Antitrust Investigations\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/NearTaoIcp.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/NearTaoIcp-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/NearTaoIcp-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Main <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/coinmarketcap.com\/view\/ai-big-data\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">AI Tokens<\/span><\/a><span data-preserver-spaces=\"true\"> like <\/span><strong><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/near-protocol\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Near Protocol<\/span><\/a><\/strong><span data-preserver-spaces=\"true\"> (NEAR), <\/span><strong><span data-preserver-spaces=\"true\">Internet Computer<\/span><\/strong><span data-preserver-spaces=\"true\"> (ICP), <\/span><strong><span data-preserver-spaces=\"true\">Artificial Superintelligence Alliance<\/span><\/strong><span data-preserver-spaces=\"true\"> (FET), <\/span><strong><span data-preserver-spaces=\"true\">and Render<\/span><\/strong><span data-preserver-spaces=\"true\"> (RENDER) have managed to weather the storm, r<\/span><strong><span data-preserver-spaces=\"true\">eporting gains ranging from less than 1% to nearly 5% in the last 24 hours. <\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">On the other hand, <\/span><strong><span data-preserver-spaces=\"true\">Bittensor<\/span><\/strong><span data-preserver-spaces=\"true\"> (TAO) and <\/span><strong><span data-preserver-spaces=\"true\">Tetha Network<\/span><\/strong><span data-preserver-spaces=\"true\"> (THETA) are among the few tokens <\/span><strong><span data-preserver-spaces=\"true\">reporting losses, ranging from 0.40% to 1%<\/span><\/strong><span data-preserver-spaces=\"true\"> in the same time frame.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Broader Market Trends<\/span><\/h2>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">The broader cryptocurrency market has been experiencing choppy sideways trading since March when Bitcoin reached its recent all-time high of around $73,700. The recent downturn is seen as part of this ongoing trend. <\/span><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">Analysts from Bitfinex predict further downside in September,<\/span><\/strong><span data-preserver-spaces=\"true\"> with potential retracement to the $45,500 price level, influenced by evolving macroeconomic metrics and recent rate cuts by the Federal Reserve.<\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">The DOJ\u2019s investigation into Nvidia has had a ripple effect across both traditional and cryptocurrency markets. As the situation unfolds, investors will be closely watching for further developments and their potential impact on AI tokens and the broader crypto landscape.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Nvidia Subpoenaed: The U.S. Department of Justice issued a subpoena to Nvidia on September 3, sparking market turmoil and significant losses in AI-related tokens. Market Impact: Nvidia\u2019s shares dropped by 8.3% this week, while AI tokens fell by an average of 7.1%, outpacing declines in major cryptocurrencies like Bitcoin and Ethereum. Broader Trends: The &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"AI Tokens Plummet After Nvidia Antitrust Investigations\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/ai-tokens-plummet-after-nvidia-antitrust-investigations\/#more-170943\" aria-label=\"More on AI Tokens Plummet After Nvidia Antitrust Investigations\">Read more<\/a><\/p>\n","protected":false},"author":32,"featured_media":170952,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9918,84,74,9156],"tags":[4591,5536,5026],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/170943"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=170943"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/170943\/revisions"}],"predecessor-version":[{"id":170953,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/170943\/revisions\/170953"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/170952"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=170943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=170943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=170943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}