Render’s Stunning 60% Surge in Just a Month: Here’s What You Need to Know!
What is Render and What is Special About it?
According to the whitepaper, the Render Network aims to power an open and decentralised ecosystem of connected 3D digital assets, revolutionising how digital content is created, interacted with, and monetised.
“The Render Network is built to provide a platform for a wide array of computation tasks from basic rendering to machine learning training to complex calculations which are facilitated swiftly and efficiently in a blockchain based peer-to-peer network, free from error or delay, while ensuring secure property rights,” the whitepaper states.
The network also harnesses unused GPU power, allowing for efficient rendering and streaming of intricate virtual works. It supports a wide range of applications, from visual effects to AI, and uses the ORBX file format for distributed rendering. The architecture comprises off-chain rendering and blockchain layers for payments, ensuring transparency and security.
The future of RNDR’s supply is designed to be adaptive and responsive to the network’s needs. While there will be an increase in the total supply, mechanisms like Burn-Mint Equilibrium (BME) will ensure a balance between token creation and destruction. The actual price of RNDR will be determined by a combination of these factors and market dynamics.
What is Render Price Doing Right Now?
Render (RNDR) the cryptocurrency has recently shown significant performance in the market. As of the latest update, Render is ranked 48th on CoinMarketCap. It was added to the platform on June 11, 2020. The cryptocurrency operates on the Ethereum platform and has a total of 209 market pairs.
As Santiment noted, up until yesterday when RNDR started to decline it was one of the recent top performers gaining over 64% in a 30-day window. Santiment stated, “Address activity, network growth, & whale transactions are sky high.”
The current circulating supply of Render is approximately 371.9 million RNDR out of a maximum supply of 536.9 million RNDR. The current price of Render is US $2.47 (AU $3.89) according to data from CoinMarketCap.
Over the past 30 days, it has surged by about 58.07%. However, over the past 24 hours, it has seen a decrease of about 5.22%.
The market capitalisation of Render is approximately US $918.8 million (AU $1.44 billion), making up about 0.0723% of the total cryptocurrency market cap. The 24-hour trading volume for Render is approximately US $94.98 million (AU $149.74).