Tokens associated with artificial intelligence (AI) performed worse than the largest cryptocurrencies over the last 24 hours. The relative weakness comes in the midst of unusual activity in put options tied to shares in Nvidia (NVDA), the chipmaker, who on Monday said it will start building its AI Super computers in the US

While Bitcoin (BTC), the largest cryptocurrency by market value, added 0.6% over 24 hours to $ 85,500, traded Tao, the Token for Blockchain-based Machine Learning Network Bittensor, 3.6% lower at $ 239 and decentralized GPU rising of platform render network’s 3.93, according to the data source coing. Other tokens, including FET, SEI and GRT lost 2%.

NVIDIA card-dated put options so remarkable activity Monday, according to data traced by convex value. The action was concentrated in the $ 100 strike settings that expire on April 17, on April 25 and May 2. In addition, there was activity in $ 60 that expires on April 17 and $ 50 and $ 85 strike expiring on May 16.

Convex value called the activity in these so-called out-of-the-money put options at strikes under Santa Clara, California-based the company’s spot price of $ 110 unusual. “My effort would be [these are] Protective plays, “an analyst told on the platform Coindesk.

Buying a put option is equivalent to buying insurance against market glass. Dealers typically click them up when seeking to take advantage of or uncover their spot/futures efforts from a potential market drop.

“Someone knows something,” Substack-based Analytical Service Merlin Capital Posted on X.