coinedition.com
In recent weeks, the crypto market has been consistently mired in a bearish trend. Prominent cryptocurrencies like Bitcoin (BTC), Cardano (ADA), and Ethereum (ETH) have mostly assumed a passive stance, frequently finding themselves in the negative territory.
Yet, amid the rather lackluster performance of the top-ranking cryptocurrencies by market capitalization, a very limited number of digital assets have managed to shine with remarkable positive growth.
According to data from CoinMarketCap, Render Token (RNDR) has surged by an impressive 10.10% over the past seven days. RNDR’s surge is particularly noteworthy given that the overwhelming majority of the market has displayed visible declines in their one-week performance.
As of now, RNDR is trading at $1.48, following a substantial trading volume of $20,818,258 in the last 24 hours. Furthermore, this figure amounts to a significant 36.52% increase compared to the trading volume recorded on the previous day.
Meanwhile, this digital asset recorded a more significant trading volume earlier this month while its price hovered at a lower region. In particular, RNDR traded at $1.35 on September 1 with over $23 million in trading volume within a 24-hour window.
Furthermore, prominent data analytic platform Coincodex has projected RDNR to reach a high of $3.45 post-Bitcoin halving in 2024. Coincodex also noted that the coin could break a double digital value by 2025.
It is worth mentioning that RNDR serves as the digital asset within the Render Network, a decentralized GPU rendering ecosystem. Its primary objective is to establish a seamless bridge between artists. It also applies to studios seeking GPU resources’ computational prowess and mining partners eager to lease their GPU capabilities.
Three months ago, Apple’s Worldwide Developers Conference sparked increased positive projections about the RDNR token. This was because of the intersection between Apple’s virtual reality products and RNDR’s utility for AI-based solutions.