en.cryptonomist.ch
What are the latest news stories concerning crypto assets Render Network (RNDR), Solana (SOL) and VeChain (VET)? Learn all about the latest news and price trends below.
Crypto analysis of The Render Network (RNDR), Solana (SOL) and VeChain (VET): news and prices
It is worth mentioning that The Render Network is the leading provider of decentralized GPU-based rendering solutions, which aims to revolutionize the digital creation process.
Solana, on the other hand, is a public, open-source, decentralized blockchain platform, which achieves consensus using a proof-of-stake algorithm along with a novel algorithm called proof-of-history.
Lastly, VET is the main cryptocurrency that powers VeChain and can be used to hold, spend, send, or perform staking. In addition, applications built on VeChain need VTHOR to pay for transactions.
RNDR is among the top crypto assets of the day: will Solana (SOL) and VeChain (VET) be able to keep up?
As things stand, the situation in the crypto market looks quite favorable, especially when considering the RNDR coin, which has stood out from the others in terms of performance over the past 24 hours.
In fact, according to CoinMarketCap data, RNDR ranks first on the platform’s list of top earners. Notably, this occurred after the altcoin experienced a price increase of more than 16% in the last day.
Currently, the price of RNDR is $1.54. This has boosted the crypto’s positive weekly performance, with the price of RNDR up 17.31% over the past seven days.
In particular, this has seen RNDR’s price rise, confirming it as one of the best gainers in recent days, thanks to exuberance for the future of AI. Indeed, Render is seen as a potentially excellent currency in the artificial intelligence sector in crypto.
Not surprisingly, with the boom in artificial intelligence, the lack of specialized computers for AI developers to work with has drawn attention to Render.
As a result, as more projects seek to implement their own AI-based software, tapping into, the blockchain-based P2P rendering network is becoming increasingly attractive and affordable.
This is particularly attractive to Render, despite the dominance of technology giants such as Microsoft, Google and Amazon Web Services (AWS). And, in reference to a recently reported server shortage for artificial intelligence developers, Render founder and CEO Jules Urbach said the following:
“RNDR has a massive supply of high-density GPU power to power AI inference.”
The wait for the launch of Solana Mobile Saga and the price of SOL
SOL, Solana‘s native token, has seen double-digit gains in the past 24 hours as bullish traders do their homework ahead of the highly anticipated launch of Solana Mobile Saga.
Not coincidentally, on Tuesday, when the price of Bitcoin surpassed $30,000 for the first time in ten months, Solana matched the upward pressure with a recovery of its own. Indeed, SOL was trading at highs of $23.74, up more than 14%, as excitement grows for the 13 April event.
The Saga event, which will be live-streamed from San Francisco on Solana Mobile’s website, is likely to be a major price catalyst before and after the appointed date.
As we know, Solana Mobile announced Saga last June and the launch date on 23 March this year. Specifically, Solana Saga is a brand new phone created by Solana in collaboration with Osom, an Android development company that has developed hardware for companies such as Google, Apple, and Intel.
Solana described its Android phone as a premium hardware experience and a flagship quality Android device specifically built for crypto.
Indeed, in an announcement made earlier in New York on 23 June, Solana unveiled plans to introduce a flagship phone that comes with its own set of features and functionality. The smartphone also comes with Solana blockchain integration.
Recovery for the crypto VET? Only if it breaks through the resistance level
VeChain’s price forecast predicts that the recovery rally for the VET coin will begin as soon as it passes the resistance level. Hence, when the rate of accumulation increases and the VET leaves the primary resistance level at $0.025, the price of VeChain could reach the recovery level of $0.1.
Consequently, the primary resistance level of $0.244 must be maintained for VET to continue rising with strong bullish momentum and reach the VeChain price target of $0.1.
However, over the past few days, Vechain’s price was $0.02385 and has declined by 2.05% of market value. In other words, the Vechain price forecast indicates that the value of the VET coin is rapidly decreasing.
In addition, the trading volume of the intraday trading session needs to increase, as it is currently below average. In order to reach the 200-day DMA, the price of VeChain is trying to stay above the 20-day, 50-day and 100-day DMAs.
In any case, the price of Vechain is still trying to rise sharply, even though technical signals point to a decline in the price of the VET currency. Meanwhile, the relative strength indicator shows the momentum of VeChain’s price decline and the RSI was attempting to move out of neutrality and become oversold.
However, the MACD reveals the upward trend of VeChain’s price. Immediately after a positive crossover, the MACD line is higher than the signal line. After the IFP has crossed the crucial resistance level of $0.025, VeChain investors must wait until the crypto starts to rise.