Internet Computer (ICP) and NEAR Protocol (NEAR) led a sharp decline in AI-related cryptocurrencies on November 11, with losses of 7.6% and 8% respectively. This downturn followed a 3% drop in Nvidia's stock, triggered by SoftBank Group's sale of its entire $5.8 billion stake in the company. The AI token market cap fell by 7%, significantly outpacing the broader crypto market's 2% decline.
Other AI tokens such as Bittensor, RENDER, and The Graph also experienced losses, while negative sentiment extended to crypto mining stocks like CoreWeave, which plummeted over 16%. The selloff highlights the interconnectedness of tech and crypto markets, particularly in the AI sector.
AI Cryptos Tumble as Nvidia Stock Declines After SoftBank Sale
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