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The AI sector has experienced a roller coaster market. Will the big players smash the market or will Nvidia fall?

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Major investors withdrew after profiting 10 times, Nvidia fell more than 5%

Last weekend, the AI sector experienced a roller coaster ride.

On Saturday, the OpenAI board made an announcement on Twitter announcing the completion of a review conducted by the law firm WilmerHale and the continued leadership of Sam Altman and Greg Brockman OpenAI. Subsequently, affected by this news, the encryption market’s enthusiasm for the AI sector was further boosted. AI projects such as Render (RNDR), Fetch.ai (FET), SingularityNET (AGIX), Arkham (ARKM), etc. have all increased by more than 15% in 24 hours.

Worldcoin (WLD), of which Sam Altman is the founder, hit a new all-time high, exceeding $10, with a 24-hour increase of more than 40%. The decentralized streaming media platform LPT, which doubled in 3 days due to Sora, a large video generation model launched by OpenAI, also rose sharply, briefly breaking through $26, with a 24-hour increase of more than 65%.

However, the strong general gains have attracted the market After a wave of expectations, the AI sector fell broadly the next day.

Why did it fall?

Major investors who made ten times the profit withdrew their losses

Why did it suddenly fall? The community has speculated that one situation may be that the large ARKM owner qklpj.eth takes profit and sells it.

From community discussions, qklpj.eth has been holding ARKM for the past eight months, having previously traded at $0.386 in November 2023. All 10.09 million ARKM ($3.16M) were transferred to Binance. Last weekend ARKM reached a high of $3.9.

According to Ember Monitoring, on March 2, a newly created address withdrew 2.99 million $ARKM from Binance, worth over $7 million. The GAS of this community address comes from the 0x1729 address, and the 0x1729 address is related to qklpj.eth. The next day, a new address (0x81DA) suspected to be qklpj.eth continued to withdraw 1.01 million $ARKM ($2.51M) from Binance. It has withdrawn a total of 4 million $ARKM worth over 10 million from Binance in more than a day.

After ARKM achieved an increase of over 38% on Saturday, qklpj.eth transferred the previously proposed 4 million ARKM to Binance on Sunday. If sold at that time, qklpj.eth The profit from these three transactions spanning 8 days was approximately US$2.8 million.

But this is only part of the positions that were transferred back after the transfer. The observable ARKM holdings of qklpj.eth totaled 10.09 million. Buy Price $0.386. If both sold at the high point, its cost of less than $4 million would have netted it nearly $40 million.

Nvidia closed down more than 5 %

In addition to large investors smashing the market, NVIDIA's stock plunge last weekend is also an explanation. On Friday, Nvidia rose more than 5% intraday but closed down 5.6%, its largest one-day drop since May 31 last year. It is reported that this single-day decline also wiped out approximately US$130 billion in NVIDIA's market value, which is one of the largest single-day market value evaporation records in the history of the US stock market.

The current encryption field The narrative of AI projects is inseparable from the technology community's optimism about the advantages of NVIDIA chips. "Motif" suddenly fell sharply after rising all the way. This shock will naturally be conveyed to the AI sector, but it was temporarily suspended due to Sam's return to the OpenAI board of directors yesterday. downtrend.

AI token rise and fall

AI-driven data analysis platform Arkham (ARKM) It fell below $3, falling 17.5% in 5 minutes yesterday, and is now quoted at $3.1, falling more than 20% in 24 hours.

Worldcoin (WLD) pulls back It fell below US$10, dropped more than 20% in 24 hours, and is now quoted at US$9.3;

AI agent Fetch.ai (FET), distributed storage network Arweave (AR), etc. also experienced declines ranging from 10% to 15%;

AI-driven UGC platform NFPrompt (NFP) It fell more than 15% in 24 hours and is still falling. The decentralized AI market SingularityNET (AGIX) also fell more than 10% from its high point.