Render (RNDR) has been on an upward trajectory, recording a number of the greatest earnings within the crypto market this previous week. This present of energy by the metaverse cryptocurrency coincides with a busy week dominated by the bulls.
Nevertheless, it seems that the RNDR value enhance is just not a results of normal market sentiment. So, what might be driving up the worth of Render?
RNDR Positive factors 32% In One Week – Worth Overview
After a interval of sideways motion, the worth of RNDR has chosen to go upward to turn into one of many greatest gainers this previous week. In line with CoinGecko data, this coin has ballooned by greater than 32% within the final seven days.
It’s value noting that almost all of this value enhance occurred in two days – on the 17th and 18th of Could. In an virtually vertical rise, RNDR surged in worth by greater than 20% on Wednesday, Could 17. This value rise is known to be a response to the information of Apple launching its VR headset.
RNDR, the utility token of the Render Community, didn’t have a fantastic market efficiency in 2022, sinking as little as $0.325 sooner or later within the 12 months. Nevertheless, the cryptocurrency has been on a superb restoration, gaining almost 500% because the flip of 2023.
As of this writing, the RNDR token modifications arms at $2.36, with a 2.8% value enhance up to now 24 hours. That stated, value knowledge reveals that the coin has not made any vital motion since Thursday, consolidating across the $2.50 value degree.
RNDRUSD buying and selling at $2.367 | Supply: RNDRUSD chart from TradingView
How Apple’s VR Headset Will Have an effect on RNDR Worth
As earlier talked about, the worth surge skilled by RNDR up to now week was primarily as a result of rumors of Apple launching its highly-anticipated VR headset subsequent month. In actual fact, most metaverse tokens, together with MANA, ICP, SAND, and many others., loved a bullish run on account of the information.
#Metaverse tokens are on the rise this week amid rumors about Apple’s new AR/VR headset 🎧
Obtained your eyes of any of those cash?https://t.co/bHqPPKWLk7 pic.twitter.com/FPl0854ZPa
— CoinGecko (@coingecko) May 18, 2023
The Render Community provides decentralized GPU-based rendering options. In the meantime, RNDR is the utility token used to pay for movement graphics, animation, and VFX rendering on the community. The RNDR token principally powers all merchandise launched by the community’s father or mother firm.
And, with the current launch of Render’s OctaneX app on M1 and M2 iPads, there’s hypothesis that the builders of the brand new VR headset will use the Render community. OctaneX is an app that gives real-time, photo-realistic 3D rendering in M1 and M2 iPads.
Contemplating this potential growth, there’s rising demand for the RNDR token – and we’re very more likely to see an additional enhance in its value.
-Featured picture from RenderToken.com, chart from TradingView
