RNDR Price Analysis February 2023
RNDR is a token of the platform Render. Its current price is around $1.67 at the time of writing, with a low of $0.2774, and it has a market cap of 424 million dollars.
What is Render (RNDR)?
RNDR is the coin of the Render platform, which is around $1.67 at the time of writing, with a low of $0.2774. After that, it reached $3.99, and its current ranking is #91, according to CoinMarketCap, with a market cap of 424 million dollars.
RNDR is a digital token built on the Ethereum blockchain and used as a form of payment on the Render Network. This network provides decentralized GPU-based animation, motion graphics, and VFX rendering services.
RNDR is pioneering a decentralized economic network that harnesses the power of GPUs to create an interconnected digital space of 3D assets. RNDR makes it possible to access powerful GPU computing capacity without buying expensive hardware. Instead, by simply contributing the computing power of their modern GPUs, people can earn tokens in return, providing an economical and efficient way of using rendering capabilities for art, design, and research professionals.
RNDR Coin Market Analysis
RNDR has a total supply of 530,962,615 coins worth around $1.67 with a market volume of 216 million dollars, whereas the market capitalization is 424 million dollars at writing. Technical indicators display a Bullish sentiment, with the Fear & Greed Index reading 60 (Greed). RNDR was one of the most popular cryptocurrencies to invest in last year and is a wise choice for investors. The buzz around this coin has been massive, and its potential looks promising.
RNDR Price Prediction
On the 2D timeframe, the price action of $RNDR/USDT is nicely bouncing from the horizontal support zone. Currently, the price is moving below the resistance zone. The price may fall from here. If it breaks its resistance zone, then it can go further upward.
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The Crypto market is known for its volatile nature. According to the above analysis, the coins we discussed might prove to be profitable if other market conditions prevail favorably. We suggest you engage in adequate research before investing in any digital assets.