cryptd.in

암호화폐 친화적인 인재를 위한 대체 링크드인

Render Continues To Flash Red In All Timeframes – What’s Going On?

-

by

in

Render investors and traders continue their sell-off, following the broader market’s bearish attitude. After weeks of continuous bullish action, CoinGecko data shows that the market is down a few percent, translating to losses in the altcoin market.

Although the environment brought gains to a number of tokens, it dragged several tokens, like Render, to the ground. The latest market data shows that the latter is down in almost all timeframes, with the biggest loss in the monthly timeframe at nearly 25%. This presents a big question to investors and traders whether Render will continue its downward spiral.

Big Things Coming For Render

Jensen Huang, CEO and Co-founder of NVIDIA, recently spoke at SIGGRAPH 2024 about the effects of accelerated computing and generative AI on different industries. He also briefly mentioned the company’s jump in computer graphics saying that “it was the best decision” the company made.

Almost like NVIDIA, Render’s framework as a provider of decentralized graphics and computing resources places the platform in a unique position in the world of AI. When asked about the AI revolution which started in 2022, Huang said:

“[And] this is really the revolutionary time that we’re in. Just about every industry is going to be affected by this just based on some of the examples I’ve already given you.”

This just shows how the broader industry is pivoting towards supporting the development of AI, thus providing a bullish signal for investors on Render as the latter’s nature as a provider of computing resources makes them valuable for the AI space.

Key moment from today’s #SIGGRAPH2024 fireside with Jensen Huang and Lauren Goode:

Q. Where do you draw the line between AI is augmenting and helping [artists] and this is replacing certain things that we do?https://t.co/muYWEq586d

A. “These tools help us be more productive.…

— The Render Network (@rendernetwork) July 30, 2024

And traditional finance institutions recognize this potential at the crossroads of AI and crypto. Asset management firm Grayscale launched its first decentralized AI fund in the early half of this month, featuring the likes of RENDER, TAO, FIL, LPT, and NEAR.

With Render’s providing a valuable resource to anyone who needs computing power, their market position remains secure despite facing substantial downturns this month.

More Bearish Pressure In The Offing?

As it currently stands, the token’s position is quite shaky as it might push the token to lower lows following the general trend it has had since May.

If the downward trend continues, the bears might push the crypto to January 2024 levels, wiping out the token’s year-to-date gains. Thus bulls should consolidate and gain control of the $6 support before any attempt upward.

But the token’s volatility might work in the bull’s favor. The current market environment is still mostly bullish, mostly by the fact that the major cryptocurrencies are in a rally, pulling the market upward.

This greedy mood counters the bearishness of the current market correction, putting more emphasis on long-term gains rather short or medium-term increases. Investors and traders should then monitor the market for long-term opportunities that will support the movement of the altcoin.

펙셀의 추천 이미지, 트레이딩뷰의 차트

댓글

답글 남기기

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

최신 피드

인기 카테고리

ko_KR 한국어
ko_KR 한국어 en_US English ro_RO Română et Eesti ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français zh_TW 繁體中文 pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

웹사이트 검색

인기 스토리

태그

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #B비트코인 (241) #BitcoinETF (3) #B비트코인기초 (1) #B비트코인 취급 (1) #B비트코인가격 (5) #B비트코인가격수준 (1) #B비트코인펌프 (1) #B비트코인예치 (1) #B비트코인서지 (1) #BitcoinTop (1) #Bitfinex (1) #B비트 단위 (1) #브레이스브리지캐피털 (1) #BRC20토큰 (1) #BTC취득 (1) #B울리스틱 예측 (1) #BullishSentiment (1) #C중국광업 (1) #CPIP리뷰 (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (2) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (33) #DogecoinGains (1) #DogecoinVolume (1) #DutchCourt (2) #ECommerce (1) 1TP5테엘살바도르비트코인 (1) 1TP5테더리움 (49) 1TP5테더리움통증 (1) 1TP5테더리움가격 (1) 1TP5전문가 의견 (1) #FedRateCut (1) #FiatCurrency (1) #FinancialImpact (1) #FinancialPrivacy (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #인플레이션데이터 (1) #투자 (1) #투자손실 (1) #일본기업 (1) #LegalAction (1) #LegalImpact (1) #법률 (1) #라이트닝 네트워크 (1) 1TP5시장분석 (3) 1TP5시장 모니터링 (1) 1TP5시장 예측 (1) 1TP5시장 예측 (1) #MarketProjection (1) 1TP5마켓지원 (1) 1TP5시장변동성 (1) #M결혼 (1) #MemeCoin (3) #MemeCoins (2) #M광부수익성 (1) #MoneyLaundering (2) #MtGox (3) 1TP5북한암호화 (1) 1TP5노보그라츠예측 (1) #P가격 마일스톤 (1) #P가격 예측 (2) #P가격 질문 (1) #PriceSurge (1) #P형량 (1) #QuantAnalysis (1) 1TP5규제압력 (1) #SEC안티크립토 (1) #ShibaInu (4) #SocialBuzz (1) 1TP5기술분석 (1) #Toncoin (3) #TornadoCash (3) #TornadoCashDev (1) 1TP5토네이도캐시개발자 (1) #UKCrypto (1) #업사이드 잠재력 (1) #USCongress (1) #와이오밍랜드 (1) #XRP가격 (1) #XRP업스윙 (1)

유용한 링크

유용하다고 생각되어 공유하고 싶은 링크.