AI Crypto Render (AI) Switches Gears With 8% Surge

Thu, 1/02/2024 – 16:45

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With the rising uncertainty on the broader crypto market, artificial intelligence (AI) protocol Render (RNDR) has positively switched gears. At the time of writing, the token has printed an 8% surge in the past 24 hours to 4.67%, per data from CoinMarketCap. With this current growth, Render has extended its weekly gains to 25.4%.

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Render 1D Chart. Source: CoinMarketCap

Render occupies a unique niche in the decentralized artificial intelligence (AI) marketplace. Render brands itself as a distributed GPU rendering network built on top of the Ethereum blockchain. Its primary value proposition is to link artists and studios in need of GPU computing power, with mining partners willing to rent their GPU capabilities out.

While there were decentralized data-sharing platforms in the crypto ecosystem before now, the Render approach democratizes AI innovation such that investors with limited infrastructural offerings will not lag in building efforts.

For the value it offers, Render has gained an appreciable embrace thus far, and this is evident in its bullish token price trends. Unlike many altcoins on the market today, Render is 46.55% below its all-time high (ATH) score of $8.76. The propensity for RNDR to retest this ATH is high considering the growing clamor for the intersection of AI and crypto.

Render in evolution of AI

The AI world is advancing at a very fast pace, and there are projections that there will soon be a major intersection between the technology and the crypto space.

Ethereum cofounder Vitalik Buterin once echoed this sentiment, as reported earlier by U.Today. According to Buterin, AI and crypto can coexist as the vast amount of data generated by AI systems will need a formidable storage technology that blockchains can provide.

In this mix, Render will play a pivotal role in this evolution by connecting the many players working on this new technological direction.

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