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AI-Based Token Render Witnesses Significant Jump in Key Metrics

10/04/2024 20:54

According to U.Today, the Artificial Intelligence (AI)-based token Render (RNDR) has experienced a significant increase in some of its key metrics, despite the broader market's performance. Data from crypto analytics platform IntoTheBlock (ITB) reveals that large transactions of Render have surged by as much as 140% in a 24-hour period, bringing the dollar valuation to $74.29 million. The market data for Render indicates a series of unusual upticks. The count of large transactions, defined as RNDR movements above $100,000, rose from 23 on April 7 to 60 on April 9. The token's actual valuation and monetary equivalent have also seen a substantial increase over the past few days. These surges have helped to solidify Render's position as one of the AI protocols with the highest number of profitable addresses. According to IntoTheBlock data, 61,570 addresses on Render are 'In the Money', representing 74.13% of the total. Addresses 'Out of the Money' total 16,840, or 20.28% of the total, while those at or below their break-even point are 4,640, or 5.59% of the total. Despite these positive metrics, the price of Render (RNDR) is still reflecting the broader market's bearish trend, with RNDR down by 6.65% to $9.23 per token. Render holds a unique position in the AI ecosystem and is aiming to lead the GPU distribution marketplace in the Web3 world. To achieve this, it is collaborating with active partners in the blockchain tech world. Render has been defying general market expectations for some time, a trend that highlights its unique value proposition. As AI in blockchain is still a relatively new niche, Render is poised to gain a first-mover advantage alongside Fetch.ai as the industry matures.

Bullish

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