• Render Network’s RNDR token outperformed the broader crypto market in the past month, mirroring tech stocks as Nvidia hits a $1 trillion market cap.
• AI is driving much of the interest in RNDR, with popular crypto analyst Jason Choi noting increased chatter about it.
• An update from Choi’s crypto newsletter Blockcrunch hints at a connection between the network and Apple’s upcoming AR/VR headset, which is set to be revealed on June 5th.
RNDR Token Outperforms Crypto Market
The decentralized GPU-based rendering solutions provider Render Network’s native RNDR token has seen a wave of interest over the past month as the narrative around artificial intelligence (AI) continues to strengthen. In the past 30 days, the token has outperformed the broader crypto market, instead following tech stocks such as Nvidia higher as major cryptos like Bitcoin (BTC) and Ether (ETH) have seen falling or stagnant prices. Since the beginning of May, RNDR is now up close to 5% to a price of $2.5.
Tech Stocks & AI Narrative
Nvidia’s stock – which recently hit a $1 trillion market cap – is up nearly 44%, fueled by high expectations related to AI chips that the company produces, including chips used by services like the AI chat robot ChatGPT. Meanwhile, the tech-focused Nasdaq index is up close to 9% during the month. It is this current buzz surrounding AI that is driving much ofthe interest in RNDR according to popular crypto analyst Jason Choi who noted more chatter about Render Network in recent times given its alignment with this narrative.
Blockcrunch Update Hints at Connection
An update from Choi’s crypto newsletter Blockcrunch last week hinted at a connection between Render Networks and Apple’s upcoming augmented and virtual reality (AR/VR) headset which is set for official reveal at its developer conference starting June 5th. Popular media personality Raoul Pal has predicted that this event will show us “the future of Metaverse”.
Render Network & The Future Of AR/VR
Render Networks potential was addressed in an update from Blockcrunch last week which hinted at a connection between it and Apple’s upcoming AR/VR headset due for reveal on June 5th – an event which media personality Raoul Pal has predicted will show us “the future of Metaverse”. This has further driven much ofthe interest in RNDR and its potential applications across multiple industries such as gaming or film production where rendering effects are needed..
Conclusion: Potential Applications Across Many Industries
The current buzz surrounding AI coupled with an update from Blockcrunch hinting towards a connection between Render Networks and Apple’s upcoming AR/VR headset have been key drivers behind much ofthe recent interest in RNDR’s potential applications across multiple industries such as gaming or film production where rendering effects are needed.. With an official reveal date set for June 5th – we can only wait until then to see what new possibilities may lie ahead for Render Network’s RNDR token!