Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
One of the fastest growing artificial intelligence (AI) based tokens, Render (RNDR), is on a rampage today and is leading a bullish altcoin revolution. At the time of writing, Render is up by more than 10% overnight, with its price pegged at $1.87. This parabolic growth is in line with the altcoin's price action over the past few weeks and is further catalyzed by the jump in its trading volume.
Tomiwabold Olajide
Render's trading volume is up by more than 248%, with more than $53 million worth of RNDR tokens traded thus far. This resurgence in trading volume and the RNDR price shows more traders are now in tune with the growing hype surrounding AI-based tokens. With this class of digital currencies just evolving, Render is proving to be at the top of the food chain in this niche.
The protocol is designed primarily to serve as a GPU distribution system for both creators and studios as well as GPU mining centers. The overall mission is for Render to connect creators to the source and, as such, help maintain a healthy ecosystem overall.
The growing adoption of the Render solution has been driving its demand, fueling the massive spike in the token in the past month.
More AI tokens emerging
The mainstream AI ecosystem is actively on a parabolic run and the crypto ecosystem protocols creating a solution on this front are also growing.
Yuri MolchanBesides Render, new entrants like SophiaVerse are fueling new initiatives to entice Web3.0 users. Per an earlier report, SophiaVerse unveiled a partnership with metaverse platform Decentraland. The collaboration entailed the creation of virtual land on Decentraland to present inclusive participation for its growing ecosystem.
While the metaverse is one very good point of entry for AI protocols, the Render offering is unique, and this accounts for its sustained growth in recent times.
Yuri Molchan
Vladislav Sopov
Dan Burgin
Alex Dovbnya