The latest U.S. government export restrictions on Nvidia’s H20 and AMD’s MI308 AI chips to China are causing quite a stir in the global semiconductor and crypto markets. The restrictions, announced on April 29, 2025, put a combined $6.3 billion in potential revenue for both companies at risk, sending shockwaves through the equity and crypto asset classes like RNDR, FET, and AKT on reference to AI.
Trading Volumes Surge as Investors Reposition
Despite price drops, trading volume on AI tokens surged. RNDR volume climbed 28% to $92 million, and FET volume rose 19% to $78 million, according to CoinMarketCap. These spikes signal intensified trader interest amid hardware access concerns.
Some assets bucked the trend. Akash Network (AKT), which supports decentralized cloud computing, gained 2.3% to $2.45 with a 15% increase in volume, suggesting a potential shift in capital toward alternative decentralized infrastructure projects not directly dependent on U.S. hardware.
AI Chip Export Curbs Hit Nvidia Stock, Trigger Selloff in AI-Linked Cryptos
The U.S. introduced licensing requirements for advanced AI chip exports to China, significantly restricting access to chips such as the Nvidia H20 and AMD MI308. This policy, aimed at curbing China’s AI development, triggered an immediate 3.2% drop in Nvidia’s stock within the first trading hour on April 29, as per Yahoo Finance data.
The ripple effect was immediate in the crypto space. AI-linked cryptocurrencies like Render Token (RNDR) fell 4.7% to $7.85 by 11:00 AM EST, while Fetch.ai (FET) declined 3.9% to $1.23. Both tokens rely heavily on high-performance AI hardware for their decentralized computing infrastructures, and the restriction casts uncertainty on their ecosystems.
Technicals Show Oversold Signals and Potential for Rebound
Technical indicators support the view that these AI tokens may be entering oversold territory. RNDR’s RSI fell to 42 and FET’s to 44 on the 4-hour chart, while MACD signals for both turned bearish. This suggests short-term downside risk but opens the door for a bounce if volume stabilizes.
Bitcoin and Ethereum mirrored broader tech market unease. BTC dipped 1.8% to $67,500, and ETH slid 2.1% to $3,200. Still, BTC’s RSI held at 48, indicating neutral sentiment, and support held near $66,800
Traders Eye Nvidia Stock and AI Token Correlation
Historical patterns indicate AI tokens often trail major tech stocks by 24–48 hours. Nvidia’s performance on April 30 could set the tone for the next leg of RNDR and FET movements.
Support levels to watch: $7.50 for RNDR and $1.18 for FET. Breakdowns could lead to deeper corrections. Resistance lies at $8.10 and $1.30, respectively, if sentiment recovers.
For crypto investors, this situation underscores how tech regulations now directly influence crypto market dynamics, particularly for tokens tied to AI infrastructure and decentralized computing.
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