Crypto AI Sector Valuation Reaches $32B Amid NVIDIA Stock Surge
- The crypto AI sector's market capitalization reached $32 billion, driven by NVIDIA's stock reaching new highs over $190 per share.
- NVIDIA's valuation is nearing $4.6 trillion, solidifying its influence in the global AI sector.
- Investor interest in risk assets increased due to political uncertainty related to a potential US government shutdown.
- Capital shifted from US treasuries to blue-chip stocks, adding momentum to risk assets.
- The CME Group's FedWatch Tool indicates a 97.8% likelihood of an interest rate cut on October 29, according to market predictions.
- Crypto projects with AI exposure saw their market cap increase by 8.8%, with top ten tokens trading positively.
- Significant gainers include Virtual Protocol with a 7.2% rise, Render with a 4% increase, and Artificial Intelligence Alliance with a 3% jump.
- NVIDIA's continued stock performance could sustain growth in the Crypto AI sector amidst expectations of a Fed rate cut.
