Render’s May meltdown almost soured the month. Will June bring a resurgence, fueled by Google’s AI arms race?
Pricing and network situation with Render were on simmering state, but with Google’s VEO 3 AI reveal, everything was set aflame once more. Now, the artificial intelligence discussion is burning once again.
With the Internet, it has been the undisputed champion of AI-powered digital rendering. But the question is, can Render keep its lead with the implications of AI evolving at a breakneck speed, and what really would be the radical innovations coming next?
I mean, VEO 3 from Google is a brute in rendering. This challenges decentralized counterparts like Render. Is it that heat applied by Google, that is to say, causing the price of RNDR to appear a little shaky lately?
Render Price Action Recap
An exhilarating up-and-down ride in RNDR continues, and the coin is presently trading around $4.03. After tagging its weekly high, it tumbled more than 18%, briefly falling shy of the $4 level. The bulls ran in to buy from the dip, thereby suggesting a strengthened support level at the prior monthly low.
Render price action/ source: TradingView
Price-wise, the charts look mixed: the 24-hour perspective points toward more downward movement, whereas the 4-hour angle louder than anything else calls out “oversold!” This have-timefame-tug-of-war-thus-positions RNDR on the very edge of a likely rebound and the precariously close position of yet another drop. Take notes; did I say watch out?
The latest drop from VEO 3 probably scared the investors a bit, which accounts for the sell-off. RNDR, on the other hand, is holding on to a premium of 57%, envied that one, during what has to be bearish winds-of-change, signaling RNDR’s bullish appeal through thick and thin.
Another 13 million dollars ripped from the coin’s spot markets in three days. What we see as a recent downturn originated from relentless selling pressure. The bleeding is seeming to slow down now, though. Is it a calm before the weekend rally? Keep close watch.
Yet, a bearish cloud hangs overhead, threatening to overshadow all hopes of a roaring comeback. With this uncertainty looming, a few analysts, locked into the bullish camp, see RNDR as a phoenix slowly rising.
CryptoWinkle, the analyst with a hawkeyed view, noticed an explosive surge in decentralized GPU power. Just having been launched on the Solana network, Render is ready to capitalize on this, sending $RNDR for a meteoric rise.
Source: X
How Has Render Performed So Far?
Render represents possibly the quiet achiever at the decentralized rendering front, but never mistake calmness for stillness. This year alone, Render crossed the 2-million mark in developer visits to its platform, an acknowledgment of the growing influence.
Catalyzed by a developer surge that brings in more than 100,000 new sign-ups monthly, from fresh companies to established enterprises, Render’s growth trajectory can only continue upward. This influx cements Render’s position and propels its impressive upward trajectory.
Burning investor confidence brought forth $80 million in a Series C round, putting total funding past $157 million. It was a clear indication that the company was on its way up.
The burning confidence among investors saw Series C funding worth $80 million being secured, with total funding surpassing $157 million. Clearly, a sign that the company was going uphill.
The network stands as a precursor of things to come, with a powerful language model intervening on any possible trouble spots, revealing the potential of AI staying in the wings.
Source: X
Imagine Render, unleashed. By weaving in a large language model, we’re not just adding a feature; we’re unlocking a whole universe of AI possibilities. Suddenly, Render is no longer competing with centralized AI rendering giants; rather, it will leapfrog them. Developer ingenuity will explode with AI at their beck and call.
Nevertheless, it was abundantly clear that Render and the WEB3 cohort of AI powered services was still lagging behind.
An attractive set of features and incentives was a need to contend truly with the centralized giants. This gave the network a tough challenge to realize an incomparable degree of growth; it is now on track to dominate its microcosm of the decentralized world.
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