RENDER Price Surges 74% in 7 Days as AI Token Gains Traders' Attention

Source: CryptoNewsNet Original Title: RENDER Price Surges 74% in 7 Days as AI Token Gains Traders Attention Original Link:

Market Performance

RENDER rallied from $1.28 to $2.23, posting a 74% gain over seven days despite trading well below its March 2024 peak of $13.53. The token is currently ranked 96th by market cap with a capitalization of $1.15 billion.

Trading volume jumped 29.5% to $260.42 million, reflecting increased activity across AI-related tokens. The token hit a seven-day high of $2.23 and maintains 24-hour volatility of 15.4%.

Network Overview

Render Network operates as a decentralized GPU rendering network that connects creators to unused computing power worldwide. The platform has demonstrated real-world adoption, including GPU rendering for major entertainment productions such as the Vegas Sphere concert.

Analyst Perspectives

Analyst DamiDefi observed that RENDER outperformed most AI-sector tokens over a five-day period, with gains exceeding what many comparable tokens achieved throughout the previous year.

Trader Seth_fin noted a 67% gain from a recent entry point and highlighted past commercial applications of the network, referencing the Vegas Sphere concert produced using Render Network’s distributed GPU infrastructure as evidence of real-world adoption.

Broader Market Conditions

The crypto market displayed fear sentiment with total liquidations reaching $298.5 million over 24 hours. Shorts accounted for $215.57 million of liquidations, suggesting bearish traders were caught off guard by price rallies.

The Fear & Greed Index registered 26, indicating fear in the market. The broader crypto market added 1.83% to total market capitalization, which reached $3.27 trillion. Bitcoin gained 2.46% over 24 hours and 6.87% over seven days.