Render Token reaches a historical record in value

Cryptocurrency analysts from Spot On Chain have announced that Render Token (RNDR) has reached its all-time high (ATH). This happened on the eve of NVIDIA’s GTC24 conference.

The price of the RNDR token has reached a new ATH of $ 13.6. The company’s employees also emphasized that three large holders «contributed 2.5 million RNDR ($ 30.8 million) to the CEX in the last 24 hours. The owner of the 0×22f wallet deposited 1 million RNDR ($ 11.3 million) on Binance about 20 hours ago. His realized profit amounted to $ 24.08 million, or 387%.»

Two more wallets — 0x9f5 and 0×69f — deposited 1.5 million RNDR ($ 19.5 million) on Coinbase almost simultaneously. They probably belong to a network of wallets that received 58.28 million RNDR from the crypto protocol’s developers when the price was only $ 1.41.

According to the analytical tracker CoinMarketCap, at the time of writing, RNDR is trading at $ 12.8, a daily increase of 18.4%. The total number of coins circulating on the market has exceeded $ 4.8 billion. Traders made $ 1.1 billion in daily transactions with the virtual coin.

Render Token (RNDR) is an asset used in the decentralized Render Network, which is designed to process and render graphics. The platform allows users to rent computing resources and process tasks using the distributed power of the network.

RNDR holders can raise tokens to pay for rendering and gain access to computing resources. The use of a decentralized network reduces the cost and increases the efficiency of the process by providing access to distributed power. Tokens are also designed to incentivize and reward network participants who offer their own resources.