This Lesser Known Altcoin Blows Up 91% In The Last Week

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	397,763,181,744	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

397,763,181,744

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	68.05	2.09%	3,320.16	3,320.05	3,320.16

Price Change

Price Change %

Current Price

Bid Price

Offer

68.05

2.09%

3,320.16

3,320.05

3,320.16

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,327.93	3,239.72	3,254.47	3,252.11	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,327.93

3,239.72

3,254.47

3,252.11

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	07:57:18	0.029820	3,320.12	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

07:57:18

0.029820

3,320.12

USD

Price x Volume	Volume	Base Symbol	Related Pairs
74,628,578.14	22,681.11	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

74,628,578.14

22,681.11

This Lesser Known Altcoin Blows Up 91% In The Last Week – Find Out Here

03/02/2023 4:10pm

NEWSBTC

Graphic Processing Units, more commonly known as GPUs, are an essential part of a computer to perform complex tasks like gaming or video editing. With video content playing a big part in the modern society, rendering a simple video with using a desktop computer might take a few minutes to a few hours. Render Network addresses these, and the computing power requirement for Web3’s continuous growth. Because of this utility, RNDR, the network’s native token, has exploded 91% in the weekly time frame as seen on Coingecko. How Does Render Work? Founded in 2016 by Jules Urbach, the network uses a decentralized system of GPUs that help creatives leverage the computing power for a fee. The nodes that contributed to the project are then rewarded with RNDR, the network’s native token. The use of GPUs in the world of crypto is not a novel idea. A proof-of-work system uses a GPU as well in a different setting. In PoW, the GPU crunches through complex math to provide the blockchain security. The GPU owner – which in this case is called a miner – is then rewarded for successfully mining a block. Hence, the name of the technology, blockchain. With Render’s use case, no block is mined. Instead, 100% of the computing power of the GPU is used to process multiple types of media. A user, designated a Creator, would put a render request on the network for a fee. This request would then be distributed to a node which would then process the render and gain RNDR for the job. A small fee is paid to the network for the maintenance of the network itself. With the interest in NFTs growing lately, Render might see more demand in the near future. What’s In Store For RNDR? The native token of Render has been seeing amplified growth in the past month as a result of the broader market rally which pulled the entire market upward. As it stands now, RNDR is above its $1.494 support level, regaining May 2022 levels. This recent breakthrough will give RNDR bulls with enough momentum to potentially turn $2 to support. But the current breakthrough might’ve exhausted the bulls as the token enters consolidation above its current support. Related Reading: Polygon Beefs Up Layer 2 Position, Gets The Edge In NFT Transactions Vs. Ethereum Crypto total market cap at $1 trillion on the daily chart | Chart: TradingView.com Related Reading: AVAX Jumps 22% As Avalanche Records Another Win For Institutional Adoption Investors and traders should be able to enjoy profits in the short to medium term as the low volatility enters the market. Long term, bulls can comfortably target $2 with a possibility of higher breakthroughs if the aforementioned resistance is broken. Featured image by Beanstalk

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