-->Nvidia, the well-known microchip manufacturer, announced its Q4 2023 revenue on Wednesday. These figures, which were higher than expected, have given a boost to crypto AI projects that make heavy use of Artificial Intelligence (AI).

In this article we look at Nvidia’s figures, their influence on AI coins and a number of crypto AI projects that can benefit most from this.

Nvidia Exceeds All Expectations in Q4 2023

Nvidia announced last Wednesday that its value per share had risen to $5.16, while analysts estimated this value at $4.59. Wall Street forecast revenue of $20.4 billion for the chip manufacturer, but actual revenue was $22.1 billion.

In short: Nvidia performed much better than expected in the fourth quarter of 2023.

These positive figures from Nvidia had a positive impact on several crypto AI projects. For example, SingularityNet (AGIX) is up more than +20%, FetchAI (FET) is up more than +10%, and Render Token (RNDR) is up 8% on Wednesday evening.

Jensen Huang, the founder and CEO of Nvidia shared the following:

Accelerated computing and generative AI have reached their inflection point. Demand is rising globally across companies, industries and countries.”

Nvidia is up over +200% in a year following the AI ​​revolution. The company forecasts revenue of $24 billion for the first quarter of 2024, while analysts predict revenue of $22.2 billion.

Nvidia currently has a market cap of $1.94 trillion, higher than Google, Amazon and the crypto market as a whole – this can be read in Nvidia’s full report for Q4 2023.

The Best 3 Crypto AI Projects to Watch During AI Revolution

Crypto AI projects can be a good investment right now. As AI becomes more sophisticated, there are increasing signs of an emerging crypto bull market. Projects that combine AI with the blockchain can therefore increase significantly in value in the near future. Moreover, Nvidia’s increase in value also affects many other cryptos, including the most famous: Bitcoin.

Today we look at 3 promising crypto projects that could explode in value in the long term, but also generate profits in the short term.

1. Scotty The AI (SCOTTY)

Scotty The AI ​​(SCOTTY) is an emerging crypto AI project that is building an AI ecosystem, allowing users to benefit from trading signals, key crypto info, efficient token swaps and more.

SCOTTY can be used for AI features, which have already been launched, but has the branding of a meme coin. Scotty The Ai’s goal is to become the protector of the crypto universe and build a large confidential community. The token can also be staked for passive income.

SCOTTY retails for $0.0058 in presale, with the new AI coin having already raised over $580,000. Although the token itself has not yet been launched, the project has already launched its first 2 AI features, ScottySwap and ScottyChat, which you can try for free via the official website.

2. Chainlink (LINK)

Although Chainlink (LINK) hasn’t directly benefited from Nvidia’s positive numbers, LINK could see a major bull run this year. Chainlink allows different blockchains to communicate with each other and for off-chain data to be stored securely on the blockchain.

The project is supported by an open-source community and data providers, developers, node operators, researchers and more. Chainlink is an ERC-20 token on the Ethereum network and could therefore also benefit if Ethereum continues to grow after the anticipated Dencun upgrade, which is planned around March 13.

Chainlink rate chart
Chainlink price chart – CoinMarketCap

LINK has fallen sharply in price this week, so it may be useful to keep an eye on it.

3. Bitcoin Minetrix (BTCMTX)

Another promising coin is BTCMTX from Bitcoin Minetrix. This emerging crypto makes it possible to access cloud Bitcoin mining via the Ethereum network. BTCMTX is up for sale in a presale that will sell out soon now that the project has already raised $11.3 of its $15 million.

Using this new staking crypto, it is possible to earn additional tokens and mining credits that you can use to mine Bitcoin via the cloud. By staking BTCMTX, you earn rewards in the form of a new riskier token and Bitcoin, which could rise significantly in value this year after the Bitcoin halving in April.

BTCMTX retails for $0.0136 each in presale and can be staked early for passive rewards while the presale is still ongoing. After the presale, the token will be launched on exchanges and may further increase in price. By mining soon, you will earn twice as much BTC as after the Bitcoin halving.

Disclaimer: This article contains insights from independent authors and is not part of BitcoinMagazine.nl’s editorial content. This is not investment advice, please do your own research.

Source: https://bitcoinmagazine.nl/nieuws/ai-coins-in-de-lift-na-winst-nvidia-3-beste-crypto-ai-projecten

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