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- Analyst highlights a 90% potential climb if RENDER holds above key levels with confirmed bullish signals.
- Recent sideways strength suggests potential for larger movements and surpassing ambitious targets.
In a tweet, popular crypto analyst Javon Marks noted that the Render Network token, RENDER, is aiming for the $7.843 mark, with verified bullish trends suggesting possible more significant rises above that level.
Marks notes that a continuous hold over $7.843 might open the path for a gain toward around $15.338, thereby reflecting a possible 90% increase and maybe more. Furthermore seen by him is the strength displayed in RENDER’s recent sideways motions, which could allow the token to exceed even the highest expectations.
Meanwhile, reflecting a 3.24% gain over the last 24 hours and a 5.69% climb over the last 7 days, RENDER is swapped hands at about $7.61 at the time of writing. This success has brought its market cap more near to the $4 billion mark.
RENDER Gains Momentum with Increased Liquidity and Whale Activity
According to a prior CNF report, Coinbase added perpetual futures contracts for RENDER in Q3 2024, improving trading opportunities on its worldwide platform. This action has helped RENDER have more liquidity and accessibility, therefore enhancing its standing in the crypto space.
Furthermore, clearly indicating growing use and involvement across its ecosystem, Render Network has seen significant expansion in frame rendering services and active addresses.
Besides that, whale activity around RENDER has risen lately. From 148,460 tokens, huge transactions have increased to an amazing 866,180 tokens. Although this increase highlights increasing interest among institutional or high-net-worth investors, it may also cause near-term price volatility to rise.
Strategic joint projects have strengthened RENDER’s ecosystem even more. OTOY, Rendering Network Foundation, and Blender Foundation announced in April 2024 a collaboration to include Cycles’ native GPU ray-tracing engine, Cycles, into the Rendering Network.
This project seeks to give over two million Blender users free access to scalable and strong rendering tools of Render Network.
Complementing their aspirational future map, Render Network revealed intentions in November 2024 to make use of the computing capacity of 100 to 200 million Apple GPUs. This project aims to greatly increase the capacity of its dispersed network, therefore establishing Rendering as a major player in decentralized computing.
