CandleFocus AI tokens market tanks 14.6% as Nvidia faces anti-trust probe in China
2024-12-10
Author: Content Editor
The market cap of Artificial Intelligence (AI)-related cryptocurrencies has dropped by 14.6% following reports of China's anti-trust probe into AI chip-making giant Nvidia. The largest AI coin by market cap, Near Protocol, fell by 8.6% in a day, while other AI tokens like Render, Akash Network, FET, and The Graph also suffered losses. Bittensor, Arkham, Livepeer, and Flux experienced higher losses of 12-16%. China's investigation into Nvidia for suspected anti-monopoly violations and breaches of commitments tied to its acquisition of Mellanox Technologies had a significant impact on the AI sector. This news, combined with a flash crash of Bitcoin, led to a broader crypto market downturn and $1.7 billion in liquidations.
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