Artificial intelligence stocks and cryptocurrencies will be in the spotlight today, May 28, as NVIDIA publishes its financial results. As the biggest player in the AI industry and the second-biggest firm in the sector, NVIDIA has a sizable impact on assets in the sector.
This article looks at the top AI crypto tokens to trade ahead of the NVIDIA earnings.
AI crypto tokens to trade ahead of NVIDIA earnings
NVIDIA’s earnings will have an impact across the AI space. Analysts anticipate the data to show that the revenues will be $43.25 billion, up by 66% from a year earlier. Its guidance for the third quarter will be $45 billion, up by 52% YoY.
NVIDIA’s earnings per share are expected to come in at 75 cents, up from the 61 cents it made last year. Historically, NVIDIA beats analysts’ estimates as it did last time when its EPS was higher than estimate by $0.04.
The top AI crypto tokens to trade are Virtuals Protocol (VIRTUAL), Render Network (RNDR), Kaito (KAITO), and Grass (GRASS).
Nvidia $NVDA reports earnings in 2 days
Virtuals Protocol (VIRTUAL)
AI token generator Virtuals Protocol is one of the most active players in the crypto industry. It had a 24-hour volume of $622 million, much higher than other bigger tokens like Bittensor, Near Protocol, and Internet Computer.
Virtuals Protocol is a top player in the industry because it helps developers generate AI agents, some of which have received multimillion-dollar valuations. Some of the top AI agents on Virtuals are GAME, Ava, aixbt, and Ribitta.
Therefore, there is a likelihood that the VIRTUAL price will be highly volatile before and after NVIDIA earnings.
Render Network (RNDR)
Render Network is the fourth-biggest AI crypto token with a market capitalization of $2.3 billion.
It is a Solana-based network that provides a distributed GPU solution. It allows users, especially game developers and creators to lease distributed GPU capabilities.
Instead of buying GPUs for thousands of dollars, users can lease distributed ones for just a few dollars per hour. Render provides a win-win situation for GPU providers and its users.
The RNDR token price has risen by 75% from the lowest point this year, although it remains much lower than the year-to-date high of $11.70.
Kaito (KAITO)
The other top AI crypto to watch is Kaito, a platform that combines the concept of artificial intelligence and data analytics.
Kaito has become one of the most popular players in the crypto industry with a market cap of over $554 million. It is a highly popular name as its daily volume stands at over $231 million.
Kaito token will be in the spotlight after the NVIDIA earnings because it is one of the top AI tokens in the industry. It is also having strong metrics, including high staking volume, total distributed value, and the rising number of stakers.
Kaito price is also nearing its all-time high, a move that it may accelerate if NVIDIA’s numbers are strong.
Read more: Crypto price forecasts: Tellor (TRB), Kaito, Hedera HBAR
Grass (GRASS)
Grass is another top AI crypto token to consider because of its popularity. It is a crypto project that allows users to download and install an app on their browsers and desktops.
It scrapes data and then pays its users during an airdrop period. This data is then used to train AI models, which explains why Grass is classified as an AI crypto token.
Some of the other top AI crypto tokens to consider are Near Protocol, Artificial Superintelligence Alliance (FET), The Graph (GRT), Arweave (AR), and Akash Network (AKT).
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