Index
Indicators
Information about Render (RENDER)
Render Network is a GPU network aimed at creators, designers, and artists who need to render their work with a GPU (Graphics Processing Unit—processor graphics are used a lot in 3D design). This network provides cloud renderings for users to consume the service, leverage the computing power of the GPU, and improve work efficiency. In addition to processing images, GPUs are also used in dApps, game programming, video editing, etc.
Render Network was founded in 2009 by Jules Urbach, CEO of OTOY, Inc. The RENDER advisory board boasts industry leaders such as Ari Emanuel (Co-Founder and Co-CEO, WME), JJ Abrams (Chairman and CEO, Bad Robot Productions), and Brendan Eich (Founder and CEO, Brave Software and BAT).
RENDER is a native token of the Render Network ecosystem, operating on Solana according to SPL standard, and can be used to:
Specifications
News
Render’s price surged by 14.51%, moving from a low of 3.2 USD to a local high of 3.8 USD over the past day.
The current trading price is 3.79 USD, reflecting an 18.96% increase weekly. Positive indicators include rising Chaikin Money Flow and MACD, suggesting bullish momentum.
With a drop in exchange inflow and dominant buy orders, investor sentiment is strong. If Render closes above 3.8 USD, it may aim for 4.5 USD.
CoinDesk 20’s latest performance update shows that RENDER has faced a notable decline of 10.7%. The overall market sentiment appears bearish as nearly all other cryptocurrencies traded lower during this period.
RENDER’s price increased by 29% over the past week, highlighting its impressive performance within AI and Big Data sectors. At press time, it was trading at 8.73 USD, contributing to its status as a limited performer in the market.
The MVRV ratio for RENDER stands at 1.48, indicating it might be in the initial stages of a bull market. Whales, holding 76% of RENDER’s total supply, could majorly influence its volatility. Recent increases in transaction volumes further emphasize its growing traction.
RENDER’s Open Interest has surged to 161 million USD, its highest in almost a month, showcasing a strong interest from traders. The Chaikin Money FLOW also turned positive, indicating heightened buying activity recently. This aligns with RENDER’s bullish momentum in various market sectors.
RENDER has seen a significant price increase, climbing over 32% in recent weeks. This bullish momentum comes as RNDR faces the crucial $8 resistance level, a point historically known for intense sell pressure. Traders are on HIGH alert, watching for a potential breakthrough that could propel the price further upwards.
The current state of RNDR’s market shows strong bullish sentiment, with 65% of its addresses in profit. Moreover, improving trading volumes indicate renewed interest and involvement from the market participants. This uptick suggests a healthy market environment, fostering confidence among investors.
Aside from RENDER’s individual performance, the larger cryptocurrency market is exhibiting bullish trends. Favorable macroeconomic conditions are contributing to positive sentiment across the board. If RENDER maintains sustained buying pressure, it could breach the $8 resistance, potentially aiming for $9 in the near term.
People also own