Despite Nvidia's price drop, AI encrypted tokens are still skyrocketing: $FET, $AGIX and $INJ lead the way.

Despite Nvidia's price falling by 6.6%, AI-related cryptocurrencies such as Fetch.ai ($FET), SingularityNET ($AGIX), and Injective ($INJ) have still performed very well in the past day. Nvidia, a leading enterprise in the field of AI technology, has dropped by 11.08% in the past five days due to concerns over executive stock sales. However, this has not stopped the bullish trend of AI altcoins.
$FET, $AGIX, and $INJ have shown significant gains this week, with gains close to 40%. Especially Fetch.ai ($FET), which has become the best performer among the top 100 cryptocurrencies in the past 24 hours.
This surge may be related to the potential cooperation implied by Injective ($INJ), which plans to integrate Fetch.ai's AI agents into its DeFi services after the IBC upgrade. Such cooperation will increase the demand for $FET, as its AI agents require $FET tokens as gas to run on the network.
What's even more bullish is that an address believed to be associated with DWF Labs, 0x64ec, deposited $1 million worth of FET, approximately $1.456 million, into an exchange 14 hours ago.
The address had previously received 10 million $FET from the Fetch.ai Foundation contract seven months ago, worth approximately 5.3 million dollars. Over time, it has deposited a total of 9.65 million $FET to a certain exchange, worth around 12.24 million dollars (+130%).
In the past seven months, the Fetch.ai Foundation has also transferred a large amount of $FET to other DWF Labs wallet addresses, indicating strategic movements within the network.
The performance of these tokens related to artificial intelligence, especially in the case of the decline in NVIDIA's stock price, highlights investors' growing confidence in the artificial intelligence encryption field.
The potential collaboration between Injective and Fetch.ai further enhances this sentiment, indicating an increased utility and demand for $FET. With the ongoing intersection of artificial intelligence and cryptocurrency, tokens such as $FET, $AGIX, and $INJ are expected to further grow.
(Data source: Will Izuchukwu)