AI tokens took a hit this week, and the trigger came from outside crypto.
Per CoinDesk, KITE and Venice's $VVV each fell about 9% in 24 hours. The weakness came after OpenAI disclosed about $50 billion in annualized revenue at the end of September, below the $68 billion that had been widely reported. The Nasdaq Composite also had its worst day since mid-August.
My view: AI coins trade as a bet on the AI boom as a whole. When the leader's numbers disappoint, the whole basket gets repriced, whatever each project ships.
๐ฌ Should AI tokens move with Nasdaq AI stocks, or on their own news?
#AI #Altcoins
Per CoinDesk, KITE and Venice's $VVV each fell about 9% in 24 hours. The weakness came after OpenAI disclosed about $50 billion in annualized revenue at the end of September, below the $68 billion that had been widely reported. The Nasdaq Composite also had its worst day since mid-August.
My view: AI coins trade as a bet on the AI boom as a whole. When the leader's numbers disappoint, the whole basket gets repriced, whatever each project ships.
๐ฌ Should AI tokens move with Nasdaq AI stocks, or on their own news?
#AI #Altcoins