- 1
RNDR token surged 8.64% in a week but in a month, a decline of 13% was seen - 2
At the time of publication, Render token was trading at $1.444000 with an intraday trading volume 5.026k. - 3
In the 52 week time frame, RNDR peaked at $2.927000; its lowest trading price was $0.350000.
RNDR token surged over 8.64% in the past seven days. A decline of 65.92% is seen in the trading volume. A decline of 41.73% is seen in the entire crypto market trading volume.
Rander token total supply is 530,962,615 RNDR; an increase of 7.84% in the token’s trading volume was seen on Coinbase in the past 24 hours. At the time of publication RNDR token was trading at $1.444000 with an intraday trading volume 5.026k.
In the 52 week time frame, Render token peaked at $2.927000 and its lowest trading price was $0.350000. Total market capitalization of Render is 537.036 Million and its average trading volume is 7.414k.
Despite a surge in a week, the RNDR token declined 13.22% in a month and it slipped 25.83% in the past three months. The MACD line is below the signal line but the histogram is signaling a likely rise in the number of buyers.
The RSI line is near the signal line and the RSI- MA line is below the signal line indicating that price might surge further. The 24 hours trading range of RNDR token is $1.389000 and $1.471000.
Market analysts believe that a recent update in the Render Network is behind the surge in price. At the time of writing, RNDR token was trading below 20 day EMA and above 50,100 and 200 day EMAs.
Recent news + updates from the vibrant Render Network community, the realm of web3, and the universe of virtual assets.
— The Render Network (@rendernetwork) August 31, 2023
The probability of RNDR breaking above the $1.5 range depends on improved activities, use cases, and other technical factors. However, the token shows solid fundamentals.
Again, a member of the Render Network ecosystem, Pro Tharan, posted details of a short film produced on the Render Network using a single text prompt. The producer revealed the steps taken to produce the film and how the Render Network facilitated the process.
Sound on
Here’s a detailed thread on the process— Pro Tharan (@ProTharan) September 5, 2023
Why did the Crypto Market Decline on September 8?
At the time of publication, the entire crypto market was having a $1.022 Trillion market capitalization. Moreover, the total decentralized finance market cap is valued at $40.501 Billion.
As per relevant data, Bitcoin trading declined significantly in the past 24 hours and now in terms of trading volume Tether the globally popular stablecoin is the leader.
Despite decline in crypto market capitalization, a surge in crypto funding in August 2023 is observed compared to the funds raised in July 2023.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/09/09/recent-updates-by-render-network-pushing-rndr-price-skyhigh/