Render (RNDR) Price Surges 32% In Single Week – Here’s Why
21 Mayo 2023 - 8:09AM
NEWSBTC
Render (RNDR) has been on an upward trajectory, recording some of
the biggest profits in the crypto market this past week. This show
of strength by the metaverse cryptocurrency coincides with a busy
week dominated by the bulls. However, it appears that the
RNDR price increase is not a result of general market sentiment.
So, what could be driving up the value of Render? Related Reading:
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Price? RNDR Gains 32% In One Week – Price Overview After a period
of sideways movement, the price of RNDR has chosen to go upward to
become one of the biggest gainers this past week. According to
CoinGecko data, this coin has ballooned by more than 32% in the
last seven days. It is worth noting that most of this price
increase happened in two days – on the 17th and 18th of May. In an
almost vertical rise, RNDR surged in value by more than 20% on
Wednesday, May 17. This price rise is understood to be a reaction
to the news of Apple launching its VR headset. RNDR, the utility
token of the Render Network, didn’t have a great market performance
in 2022, sinking as low as $0.325 at some point in the year.
However, the cryptocurrency has been on an excellent recovery,
gaining nearly 500% since the turn of 2023. As of this writing, the
RNDR token changes hands at $2.36, with a 2.8% price increase in
the past 24 hours. That said, price data reveals that the coin has
not made any significant movement since Thursday, consolidating
around the $2.50 price level. RNDRUSD trading at $2.367 | Source:
RNDRUSD chart from TradingView How Apple’s VR Headset Will Affect
RNDR Price As earlier mentioned, the price surge experienced by
RNDR in the past week was primarily due to the rumors of Apple
launching its highly-anticipated VR headset next month. In fact,
most metaverse tokens, including MANA, ICP, SAND, etc., enjoyed a
bullish run as a result of the news. The Render Network offers
decentralized GPU-based rendering solutions. Meanwhile, RNDR is the
utility token used to pay for motion graphics, animation, and VFX
rendering on the network. The RNDR token basically powers all
products released by the network’s parent company. And, with the
recent release of Render’s OctaneX app on M1 and M2 iPads, there is
speculation that the developers of the new VR headset will use the
Render network. OctaneX is an app that offers real-time,
photo-realistic 3D rendering in M1 and M2 iPads. Considering this
potential development, there is rising demand for the RNDR token –
and we are very likely to see a further increase in its price.
Related Reading: Decentraland (MANA) Leads Crypto Market Gains,
Here’s Why -Featured image from RenderToken.com, chart from
TradingView
Render Token (COIN:RNDRUSD)
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Render Token (COIN:RNDRUSD)
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De Oct 2023 a Oct 2024