Crypto Traders Shift Attention from Meme Coins to AI Stocks

The crypto market has seen a shift from meme coins to AI stocks, with some of the most active traders moving their attention to companies in the artificial intelligence and chip sectors.

Raul Patel, founder of a crypto company, has switched his focus from trading meme coins to betting on AI-related companies like NVIDIA, Micron Technology, SK hynix, Sandisk Corporation, and others. He claims that this approach is 'much nicer' as he can sleep peacefully without worrying about his 'bags', a term used in the crypto community for positions in a portfolio.

The surge of interest in AI company stocks has been rapid, with contracts on shares of these companies attracting over $8 billion to Hyperliquid in just one week. On Binance, the average daily turnover for contracts tied to stocks rose from $85 million in February to $5.5 billion in July.