Render (RNDR) has been on an upward trajectory, recording among the greatest income within the crypto market this previous week. This present of power by the metaverse cryptocurrency coincides with a busy week dominated by the bulls.
Nevertheless, it seems that the RNDR worth enhance isn’t a results of basic market sentiment. So, what may very well be driving up the worth of Render?
RNDR Positive factors 32% In One Week – Value Overview
After a interval of sideways motion, the worth of RNDR has chosen to go upward to grow to be one of many greatest gainers this previous week. In accordance with CoinGecko information, this coin has ballooned by greater than 32% within the final seven days.
It’s value noting that the majority of this worth enhance occurred in two days – on the seventeenth and 18th of Could. In an nearly vertical rise, RNDR surged in worth by greater than 20% on Wednesday, Could 17. This worth rise is known to be a response to the information of Apple launching its VR headset.
RNDR, the utility token of the Render Community, didn’t have a fantastic market efficiency in 2022, sinking as little as $0.325 in some unspecified time in the future within the 12 months. Nevertheless, the cryptocurrency has been on a wonderful restoration, gaining practically 500% for the reason that flip of 2023.
As of this writing, the RNDR token modifications fingers at $2.36, with a 2.8% worth enhance prior to now 24 hours. That stated, worth information reveals that the coin has not made any vital motion since Thursday, consolidating across the $2.50 worth degree.
RNDRUSD buying and selling at $2.367 | Supply: RNDRUSD chart from TradingView
How Apple’s VR Headset Will Have an effect on RNDR Value
As earlier talked about, the worth surge skilled by RNDR prior to now week was primarily because of the rumors of Apple launching its highly-anticipated VR headset subsequent month. In actual fact, most metaverse tokens, together with MANA, ICP, SAND, and so forth., loved a bullish run because of the information.
#Metaverse tokens are on the rise this week amid rumors about Apple’s new AR/VR headset 🎧
Received your eyes of any of those cash?https://t.co/bHqPPKWLk7 pic.twitter.com/FPl0854ZPa
— CoinGecko (@coingecko) May 18, 2023
The Render Community gives decentralized GPU-based rendering options. In the meantime, RNDR is the utility token used to pay for movement graphics, animation, and VFX rendering on the community. The RNDR token principally powers all merchandise launched by the community’s father or mother firm.
And, with the latest launch of Render’s OctaneX app on M1 and M2 iPads, there’s hypothesis that the builders of the brand new VR headset will use the Render community. OctaneX is an app that gives real-time, photo-realistic 3D rendering in M1 and M2 iPads.
Contemplating this potential growth, there’s rising demand for the RNDR token – and we’re very prone to see an additional enhance in its worth.
-Featured picture from RenderToken.com, chart from TradingView