The value of AI crypto tokens has experienced substantial fluctuation, recently plummeting to $20 billion following legal issues faced by Nvidia Corp.
Over the past months, AI tokens had surged due to Nvidia's role in AI advancements. However, an investigation by the US DOJ into potential antitrust violations by Nvidia has led to a sharp decline in these tokens' values.
The subpoenas issued on Tuesday include inquiries into whether Nvidia restricts competition and penalizes companies that do not solely use its AI chips. The investigation impacted Nvidia's shares and caused a ripple effect on AI tokens, causing a 7.6% market capitalization drop in 24 hours.
During this turmoil, major AI cryptocurrencies such as NEAR Protocol, Internet Computer, and Injective experienced notable declines, with Bittensor (TAO) leading the fall with an 11% decrease.
Despite its recent losses, TAO shows the potential for recovery within an ascending triangle pattern. If it breaks above $357, TAO could see a 43% price surge. However, failure to surpass $304 might lead to further volatility.
