Render Token essentially removes the technological barriers of computational systems, i.e. it allows people to share their unused or extra GPU power with people who need GPUs. The network connects these people and helps them save time and money.
In other words, Render Network removes the gap between the supply and demand of the graphics processing unit.
Let’s take a brilliant look at the two main Render Token use cases:
- Artists or creators can get the power of the GPU to render final images at lower cost and faster speeds than other sources.
- Node operators can rent their extra graphics processing units and get RNDR tokens in return.
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Price Prediction: Render token latest news
In a recent Tweet on November 12, 2022, Render network announced the release of its BTN (Behind the Network) which will be focused on NFT development and the next generation of virtual assets.
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Prediction: Render token Price Prediction
The current market price of the Render Token (RNDR) is $0.509 (as of November 12, 2022) and has decreased by 19.7% in a single day. Before we dive into the details of price prediction for the Render token, let’s first understand and compare its price history.
The 3-month chart of Render Token (attached below) can put a little more light on its price movement in recent times. Its chart shows that the token has a peak that was valued at $1.09 last week (precisely on November 6) and has been declining ever since.
Another factor that we can consider for Render’s price prediction is its feelings on social media for a certain period of time. Its social media engagements show a drop of more than 51% in just one week, which is another likely reason for its downward price movement this week.
The all-time highest RNDR value is $5.2 (as shown in the chart below). Given that it was priced at $1.09 on November 6 which was the highest for 30 days. In addition, the market price of RNDR a month ago, i.e. October 6, was $0.49. It means it grew by 55% from then until November 6. Keeping in mind its current market price of $0.50, it can go as far as 940% to reach its all-time high.
Now, considering its growth rate of 55% in a month, it will take at least 17 months to reach its all-time high again.
In addition, AMD and Nvidia, the giants of graphics chips, have also begun to create graphics processing units for the purpose of mining blockchains (such as Ethereum). It means that Render’s vision of providing a token-based system to existing rendering services can see exponential growth in the future. Since Render Network can move the potential of existing ecosystems to the distributed database of the blockchain, it can become a success very soon.
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Price Prediction: price analysis of Render’s competitors
In addition to its price movement, let’s take a look at how its competitors have done so far this year.
A notable competitor to Render Token is Flux, which is a fully decentralized cloud infrastructure platform that builds the largest decentralized computational networks. The current market price of FLUX (as of November 12) is $0.448 and has decreased by about 4% over the past 24 hours.
The market price of FLUX has decreased by more than 534% in one year, as suggested by the chart attached above.
The value of the
Render Token is currently down about 19.7% from the previous day and is much lower than its historical value of $5.2. Keeping in mind its lower price and excellent use cases, it can be a good investment to consider. But prices are not expected to grow very fast in the near future.
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Price Prediction: Is the Render token a good investment?
As the demand for graphics processing unit rendering services is growing, and therefore, Render Network can potentially save costs and time for such services. In addition, users have the opportunity to earn passive income in the form of RNNDR tokens. Now, the question arises that “is it worth investing in Reef coin?” Let’s discuss it:
To answer, whether RNDR is a good investment or not, let’s analyze the price movements of its competitors.
Price analysis of Render’s competitors
In addition to its price movement, let’s take a look at how its competitors have done so far this year.
A notable competitor to Render Token is Flux, which is a fully decentralized cloud infrastructure platform that builds the largest decentralized computational networks. The current market price of FLUX (as of November 12) is $0.448 and has decreased by about 4% over the past 24 hours.
The market price of FLUX has decreased by more than 534% in one year, as suggested by the chart attached above. The value of the Render Token is currently down about 19.7% from the previous day and is much lower than its historical value of $5.2. Keeping in mind its lower price and excellent use cases, it can be a good investment to consider. But prices are not expected to grow very fast in the near future.
Render Price Prediction: Compare the rendering token with competitors
Render’s main competitor at the moment is Flux, a computational network with 13,500 decentralized nodes. Let’s take a look at the Flux nodes- An important competitor to Render Token:
Flux is the fully decentralized cloud infrastructure platform aimed at building the largest decentralized computational network. Flux already had 13,500 nodes and 98,000 CPU cores and offers 272 terabytes of RAM and 6 petabytes of storage as of November 12, 2022.
The good thing about Flux is that it’s Web3 and truly decentralized with 100% uptime. In addition, it has developed Useful Work Proofs (PoUW) which is one of Flux’s crucial projects with the aim of transforming “Proof of Work Blockchains”.
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Price Prediction: How is Render different from the competition? Is it different?
Let’s compare Render Token with its above-mentioned competitor in several aspects:
| Render tokens | flow | |
| Performance of the last 3 months | -50% | -131% |
| Performance of the last 1 month | 22% | -42% |
| Social Media Sentiment (Last 7 days) | +51% | -29% |
| Blockchain on which it operates | Ethereum | flow |
Data suggests that Render Token is performing much better than its competitor for a month. In addition, the use of Ethereum Blockchain provides Render Token with the added benefit of running smoothly without third-party interference.
Render – 2023, 2025, 2030
Although the price prediction cannot be 100% accurate, a thorough analysis and past performance of the coin can actually predict its future. Let’s try to predict the price of Render for 2023, 2025 and 2030:
Currently, Coinmarketcap’s ranking for Render Token is #155 and it has a market capitalization of $128,935,899.27. Comparing RNDR’s market capitalization to that of 24 hours ago, it is down more than 14%. Despite its current price decline (which depends on various factors such as negative market sentiments, rising consumer price index in the US, etc.), the analysis states that Render Token will continue to grow and reach its all-time highest value again in the next 17 months.
Render Price Prediction 2023; Reports say 2023 can be a year for Render to cover its losses and reach a value close to $4.5 by the end. The year can expect to start with a price of $2.
Render Price Prediction 2025; according to the analysis, 2025 appears to be a mixed year for RNDR with continued ups and downs. It can have a minimum price of $3.5 during the beginning and $4.7 during the end of the year with a peak at $5.4 during mid-2025.
Render Price Prediction 2030; Reports suggest that 2030 can be a tough year for RNDR where the token can hit its all-time lowest price of nearly $0.