The cryptocurrency market shows mixed results amid expectations of Nvidia's anticipated earnings report, which is expected to significantly influence the market.
Major Cryptocurrency Losses
Major cryptocurrencies like Ether, Solana, and XRP experienced slight losses over the past 24 hours, despite a general market uptick over the weekend. Bitcoin (BTC) slipped below the $64,000 mark during Asian trading hours on Monday, following a 5% jump on Friday. Ether (ETH) traded just above $2,700, Solana’s SOL was priced at $158, and XRP was at 58 cents.
AI Token Market
AI-related tokens, such as FET and TAO, led the market gains, rising 8.8% and 4.7%, respectively. This surge comes ahead of Nvidia’s highly anticipated earnings report, historically a key indicator for the AI token market.
Nvidia Earnings Expectations
Analysts surveyed by FactSet anticipate Nvidia will report earnings of 65 cents per share, marking a 141% year-over-year increase. Revenue is projected to reach $28.72 billion, up 113% from the same period last year. This would mark Nvidia’s fifth consecutive quarter of triple-digit growth.
The cryptocurrency market remains uncertain as analysts closely watch for Nvidia's upcoming earnings report. This report is expected to significantly impact the market, especially in the AI tokens segment.
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