The cryptocurrency market has been steadily stuck in a downward trend over the past few weeks. Well-known cryptocurrencies like Bitcoin (BTC), Cardano (ADA), and Ethereum (ETH) have generally adopted a passive approach and frequently find themselves in unfavourable regions. However, despite the generally subpar performance of the top-ranking cryptocurrencies by market capitalization, a very small number of digital assets have managed to shine with exceptional positive growth.
According to information from CoinMarketCap, Render Token (RNDR) has increased significantly during the last seven days, rising by a whopping 10.10%. Given that the vast bulk of the market has seen losses in their one-week efficiency, RNDR’s increase is particularly striking.
RNDR is currently trading at $1.48 after transacting a significant $20,818,258 worth of goods and services during the previous 24 hours. Additionally, this figure represents a significant 36.52% improvement over the purchasing and selling volume observed yesterday.
While its value remained in a lower range, this digital asset saw more significant buying and selling activity early this month. On September 1, specifically, RNDR traded at $1.35, with approximately $23 million in buying and selling volume over a 24-hour period.
Additionally, the top data analytics platform Coincodex predicted that after Bitcoin‘s 2024 halving, RDNR would reach a high of $3.45. Coincodex further noted that by 2025, the coin might surpass a twofold digital value.
It’s important to note that the decentralised GPU rendering ecosystem known as the Render Community uses RNDR as its primary digital asset. Establishing a seamless connection between artists is its fundamental objective. It also applies to mining partners anxious to rent their GPU capabilities and studios seeking the processing power of GPU sources. Apple’s Worldwide Developers Conference three months ago inspired further upbeat predictions about the RDNR coin. This resulted from the interaction between RNDR’s application for AI-based solutions and Apple’s digital reality products.