Ocean Protocol

Render

Artificial Intelligence

Bitcoin

The digital currency ecosystem is undergoing a mild capitulation as Bitcoin (BTC) and altcoins like Render (RNDR) fight weekly lows. With a visible growth imbalance recorded overall, AI token Render is in the spotlight with its 15.25% surge to $8.745. 
<h2 id="strong-render-decouples-from-bitcoin-strong">Render Decouples From Bitcoin</h2> 
It is not unusual to find an altcoin decouple from Bitcoin, especially after a week of long drawdown. At the time of writing, the Render 15% surge compares to the 0.23% fall in the price of Bitcoin. The premier cryptocurrency is now changing hands for $63,755.42 as it looks to sustain its support at the $63,000 support zone. 
Render is generally a market outlier with growth significantly outpacing other AI tokens in the ecosystem. With the 24-hour surge, the token has extended its growth over the past week to 20%. While the volatility remains high at the moment, Render has managed to maintain a bullish outlook YTD. 
Data from CoinMarketCap pegs this Year-To-Date (YTD) growth at 95.58% as it soared from $4.4 to a high of $9.34 today. 
<figure id="attachment_195385" aria-describedby="caption-attachment-195385" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-195385" src="https://coingape.com/wp-content/uploads/2024/05/RNDR_1D_graph_coinmarketcap1.jpeg" alt="Render 1D Chart" width="915" height="475" srcset="https://coingape.com/wp-content/uploads/2024/05/RNDR_1D_graph_coinmarketcap1.jpeg 915w, https://coingape.com/wp-content/uploads/2024/05/RNDR_1D_graph_coinmarketcap1-300x156.jpeg 300w, https://coingape.com/wp-content/uploads/2024/05/RNDR_1D_graph_coinmarketcap1-768x399.jpeg 768w, https://coingape.com/wp-content/uploads/2024/05/RNDR_1D_graph_coinmarketcap1-150x78.jpeg 150w" sizes="(max-width: 915px) 100vw, 915px">
 <figcaption id="caption-attachment-195385" class="wp-caption-text">
 Render 1D Chart. Source: <a rel="nofollow" href="https://coinmarketcap.com/currencies/render/" target="_blank">CoinMarketCap</a>
 </figcaption>
</figure> 
Render’s appeal is hinged on the industry it represents. As an Artificial Intelligence protocol, Render has managed to ride the growing valuation surge in the industry. Render is designed as a <a href="https://coingape.com/render-rndr-launches-incentives-for-node-operators-will-price-break-3/">GPU Rendering network</a> to connect miners with GPU capabilities with artists and studios in need of it. 
With the Render model, innovating in the AI ecosystem becomes easy, and costs less generally. With the price surge, the token is now eyeing its psychologically important resistance zone at $10. 
<h2 id="strong-the-hyped-ai-market-strong">The Hyped AI Market</h2> 
Beyond Render, many crypto protocols and Wall Street firms are riding the AI wave. NVIDIA for instance is one of the biggest beneficiaries of this rally with its valuation <a href="https://coingape.com/ai-giant-nvidia-surpasses-2t-market-cap-post-earning-boom/">topping $2 trillion</a> this year. 
Many analysts are bullish on the firm as its GPU hardware and dominant software position it as a leader in the AI race. Beyond NVIDIA, Apple is also tipped to revamp its market performance and product output with AI. <a href="https://coingape.com/jim-cramer-predicts-ai-will-drive-refresh-for-apple/">Jim Cramer</a> is optimistic the integration of AI in iPhones by the firm can change its position in unique ways. 
In all, the formation of the Artificial Superintelligence Alliance (ASI) by Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) is also a testament to the potential of AI many are visualizing. Thus far, the <a href="https://coingape.com/singularitynet-agix-holders-endorses-asi-alliance/">ASI Alliance</a> has been getting the necessary backing from the protocol’s respective communities. 
The post <a href="https://coingape.com/ai-protocol-render-rndr-soars-15-as-bitcoin-fights-for-balance/">AI Protocol Render (RNDR) Soars 15% As Bitcoin Fights For Balance</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

AI Protocol Render (RNDR) Soars 15% As Bitcoin Fights For Balance

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