Since the beginning of the year, the render token has one of the most impressive rallies in the entire crypto market laid down. In the last week alone, the token is one of the strongest price gainers among the top 100 largest cryptocurrencies, with an increase of over 40%. Even today, RNDR is one of the strongest gainers after KAVA with a price increase of 10.29%. What the Render Token is and has led to this impressive performance as well as everything about the RNDR Price Prediction 2023 is now covered below.
What is Render Token (RNDR)?
Render Token (RNDR) is a computing network that founded by OTOY in 2009 and launched in 2017. It enables the Rental of GPUs (Graphic Processing Units), also known as graphics cards. The network finds application in various areas such as Media, industry, augmented reality, mixed reality, gaming, medicine and virtual reality. The offer can be used with various video editing plug-ins from Adobe Premiere, Apple software and other programs.
Be for use when uploading, the files are hashed and sent in chunks to the nodes to do the rendering. Meanwhile, rewards in RNDR tokens are deposited in escrow and released to node operators after manual verification by the artist. To be on the safe side, all files are encrypted with a watermark provided, which will only be removed after successful payment.
Artists use the one powered on the Ethereum blockchain Render token to use the computing power of the GPUs provided by the graphics card vendors. These services can only be paid for with the render token, which creates a concrete use case for the token.
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What has Render Token (RNDR) been doing lately?
Below is a list of the important messages that have had an impact on the render token in the past:
Render Network publishes report for Q4 2022 to Q1 2023
The Render Network’s quarterly stats for Q4 2022-Q1 2023 have been released for the community to review trends and growth.
Here are the key highlights of the post:
— Render Network | RNDR (@RenderToken) May 3, 2023
The Render Network Foundation recently released an update on usage metrics for the past two fiscal quarters. Render Network usage remained stable throughout the first quarter of 2023, with an overall 2,119,813 frames were rendered, representing a 2% growth over the fourth quarter of 2022.
In March 2023 in particular, the network saw a spike in activity, with 840,804 frames rendered and 235,955 RNDR distributed. This equals one Up 15% and 29% respectively from December 2022 figures. This increase resulted in overall higher usage in Q1 2023 compared to Q4 2022.
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Render Network Foundation improves decentralization and network growth
The aim of recently published “Growing the Render Network Community through RNP-003: Resource Acquisition and Allocation for Core Team and Grants” Medium post is to shed light on:
• The background of Render Network’s creation
• The drive towards decentralization
• The role of…— Render Network | RNDR (@RenderToken) April 18, 2023
On April 18th, the Render Network Foundation announced the Taken control of the Render Network repositories and brand, which represents a step towards decentralization and community governance. The Render Network Foundation strives to to expand independent resources and reduce OTOY’s influence, while OTOY can continue to participate as a sponsor. The RNP-003 proposal included a resource allocation to increase decentralization and ownership.
Vote on switching to Solana
3/
Results: We had 228 responses to the Community Sentiment Polling. The top vote was @Solana with 54.8% of the vote. The 2nd place was @polygon with 14%.
— Render Network | RNDR (@RenderToken) March 3, 2023
Voting on Render Network and moving to the Solana network was a significant step for the community. Render Network is the first blockchain GPU rendering network and 3D marketplace to be looking for an efficient and scalable solution was to meet the needs of the growing user base. The decision to move to Solana as the Layer 1 network was made through a community snapshot vote.
Render Network strives to Offer real-time rendering and interactive holographic streams, which requires dynamic real-time and on-chain status updates. Using Rust as a programming language, Render Network can develop both high-performance code for GPUs and smart contracts. The Solana blockchain offers high throughput capacity, low latency, and the ability to turn both C++ and Rust into smart contracts. The decision was made after a thorough review and in collaboration with the community.
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Render Token (RNDR) Price Prediction 2023
The Render Token (RNDR) has it within the Moved from 84th to 45th largest cryptocurrency on CoinMarketCap in the last 2 months. The project currently has a market capitalization of more than $649.35 million. Of the total of 536,870,912 RNDR are already 98.90% in circulationso that there is no longer any need to fear strong inflation. Within the last 15 months, the number of RNDRs increased by 129.24% from 231,614,456.7 to 530,962,614.98.
The RNDR course has developed in a similarly positive manner despite the particularly high inflation, which is all the more remarkable. While the Render Token was available for $0.403 at the beginning of the year, the price is now up 573.45% higher at $2,715. It was only on March 21st the high for the year educated. However, it is still off the all-time high of $7.7982 from current levels 187.23%.
What is particularly remarkable about the development of the Render Token is the daily trading volume. Because while this only reached a maximum of 292.47 million US dollars at the all-time high a new record this year with 303.38 million US dollars set up. In addition, this year Significantly higher trading volumes are recorded over a longer period of time, than before. This indicates an increased interest, which is also due to the implementation of Apple.
The RNDR course now has that Breaks downtrend Fibonacci 23.6 level at $2.2904 and was able to maintain the level. This tends to indicate further price increases. For the cops, the lie next key resistances at $2.97453, $3.31393 and $3.5419. For the bears are important Supports at $2.2904, $1.8392 and $0.8167.
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More exciting crypto projects
Some new coins have taken the hearts of investors by storm, they are now briefly introduced below:
Ecoterra (ECOTERRA)
Ecoterra offers for the first time extraordinary incentive systemto encourage people to do more to protect the climate and the environment and to combat the global waste problem. Through the so-called Recycle-to-earn process you will receive in the future Cryptocurrencies for handing in their household waste to deposit-taking machines in supermarkets. The valuable materials obtained from this are then transported via the internal Ecoterra Marketplace sold to manufacturers. In addition, about this Marketplace also CO₂ emission certificates purchased to reduce carbon emissions. Another important element is this impact profile, which tracks sustainable success and rewards special milestones with NFTs. Many brands and supermarkets have already joined Ecoterra.
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DeeLance (DLANCE)
As the Internet takes the next evolutionary step towards Web3, DeeLance is developing a Metaverse specialized in the business world. Through this virtual business world will created a connection similar to that in a normal office, despite the great distance involved in remote work, which is becoming increasingly important. Users can take advantage of a variety of offers, including interactive training, 3D presentations, job interviews, customized customer experiences, virtual trade fairs and more. Another important element is the decentralized marketplace for freelancerswhich through the elimination of intermediaries the lowest costs and highest efficiency allows. By the use of NFTs also become highest Ensures security and transparency and allows fragmentation of assets.
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Launchpad XYZ (LPX)
So far, the Web3 offering is scattered across different blockchains using different cryptocurrencies, standards, and wallets. This market is still a bit daunting for outsiders, which has prevented them from reaping the benefits. Web3 portal Launchpad XYZ wants to change that by offering the curates the entire Web3 offer and offers it via its portal. The access takes place seamlessly with the Web3 wallet – just an email address or phone number. The services and assets are rated by Launchpad Quotient and users to weed out fraudulent offers. The platform generates diverse sources of income in both the B2B and B2C sectors.
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About the author: Simon Feldhusen first came into contact with the stock market 17 years ago and has been dealing intensively with trading, cryptoassets, stocks, P2P, corporate finance, finance and entrepreneurship on a daily basis for more than 8 years. He has also been working as a copywriter and ghostwriter in the financial sector for several years. During this time he has acquired a diversified knowledge through various training courses on the financial markets and following the daily news. Since then, not a day has gone by that he hasn’t engaged with the markets. He publishes for Finanzen.net, ETF-Nachrichten.de, Coincierge.de and P2E News.com.
