"Coinbase Surges 0.8% in Crypto Market Recovery; Nvidia Rebounds 8.8% After AI Shock"

Coin WorldWednesday, Jan 29, 2025 8:20 am ET

1min read

The U.S. stock crypto sector is up in pre-market trading, with Coinbase leading the way, surging 0.8%. This positive momentum comes amidst a broader market recovery following the recent volatility triggered by DeepSeek's AI model.

Crypto mining stocks, however, are feeling the heat for a second straight day as concerns over AI-driven market overvaluation shake investor confidence. Riot Platforms (RIOT) dropped 4.37% on Jan. 28, while Cleanspark (CLSK) and MARA Holdings (MARA) slipped 2.47% and 0.14%, respectively. Meanwhile, the S&P 500 gained momentum, recovering from the chaos triggered by DeepSeek's new AI model, which sent shockwaves through the market just a day earlier.

Nvidia (NVDA), a major player in the tech sector, staged the biggest rebound among U.S. tech giants, surging over 8.8% after tumbling 17% on Jan. 27. Other major players, including Apple (AAPL), Amazon (AMZN), and Microsoft (MSFT), also posted solid gains, with the S&P 500 recording its third-largest single-day market cap increase in history.

AI-focused crypto tokens continue their slide, with the sector's market capitalization shedding 5.11% in the past 24 hours. The Venice Token (VVV), linked to DeepSeek's AI model, plunged 20.29%, leading the declines, while Virtuals Protocol (VIRTUALS) lost 11.75%.

Bitcoin remains steady near the crucial $100,000 mark, as traders await the Federal Open Market Committee's interest rate decision on Jan. 29. Market expectations suggest a 99.5% probability that the Fed will keep rates unchanged at 4.25% to 4.50%.

Coinbase, the leading cryptocurrency exchange, has expanded into Argentina, enhancing crypto access, financial inclusion, and security while promoting education and compliance in a growing digital economy. The widespread reliance on cryptocurrencies in Argentina by millions of users proves substantial market demand for secure digital financial services.

Coinbase has received regulatory approval to expand into Argentina, marking a crucial

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