Generative AI

Render

EigenLayer

StaFi

<div class="finbold">
 <p class="paragraph">The anticipation of several upcoming AI events has sparked a bullish sentiment, leading to a resurgence in AI tokens.&nbsp;</p>
 <p class="paragraph">These events, such as the Enterprise Generative AI Summit in California and Tech &amp; AI LIVE in London on May 21, contribute to renewed interest in artificial intelligence technology globally. This renewed enthusiasm may lead to further gains for AI assets, such as Render (RNDR), the ‘Nvidia of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>.’</p>
 <p class="paragraph">The renewed optimism has caused a surge in Render, with its price surging almost 50% in the past week, <a rel="noopener noreferrer nofollow" title="adding" href="https://thebittimes.com/tag/adding.html">adding</a> over $1 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> to its market cap, propelling it from a $3.1 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> to a $4.4 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> threshold.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Ripple v. SEC case update as of May 10, 2024 <span class="self-center text-xs text-slate-500">25 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    StaFi LSaaS Stack now supports EigenLayer LRT <span class="self-center text-xs text-slate-500">30 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bull rally incoming as Ethereum whale stacks over $32M in ETH since May <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Crypto insider turns $600 into $2.5 million of unrealized profits <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <figure class="wp-block-image size-full"><img decoding="async" width="975" height="396" src="https://cdn.thebittimes.com/images/2024/05/10/5b137cacc447e8816630616348f1db29.webp" alt="RNDR market cap 7-day chart. Source: CoinMarketCap
" class="wp-image-175132" srcset="https://cdn.thebittimes.com/images/2024/05/10/5b137cacc447e8816630616348f1db29.webp 975w, https://cdn.thebittimes.com/images/2024/05/10/5b137cacc447e8816630616348f1db29.webp 300w, https://cdn.thebittimes.com/images/2024/05/10/5b137cacc447e8816630616348f1db29.webp 768w" sizes="(max-width: 975px) 100vw, 975px">
  <figcaption class="wp-element-caption">
   RNDR market cap 7-day chart. Source: CoinMarketCap
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-ai-and-gpu-connection-could-prove-beneficial-for-render">AI and GPU connection could prove beneficial for Render</h2>
 <p class="paragraph">Render is a decentralized GPU rendering platform leveraging blockchain technology to connect artists and creators with GPU power. The project’s notable feature is its ability to allow users to rent out unused GPU processing power to others in need of rendering services. Render aims to democratize access to high-performance computing resources, establishing a global decentralized rendering network.</p>
 <p class="paragraph">Similarly, Nvidia (NASDAQ: NVDA) is a leading GPU manufacturer, sharing market and industry similarities with Render. Both entities benefit significantly from the growing interest in artificial intelligence technologies.</p>
 <p class="paragraph">In summary, Render offers advantages such as lower costs compared to traditional rendering services and the utilization of underutilized GPU power. Additionally, it presents a decentralized alternative to centralized rendering farms, enhancing flexibility and reducing potential points of failure.</p>
 <h2 class="wp-block-heading" id="h-rndr-price-chart">RNDR price chart</h2>
 <p class="paragraph">At the time of writing, RNDR was trading at $11.52, after a positive 9.52% gain in the past 24 hours; in a week behind us, these gains amount to 44.33%, with the monthly performance in the green after 28.63% advance.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="975" height="396" src="https://cdn.thebittimes.com/images/2024/05/10/c472038d528afac755764054b8d71ee9.webp" alt="RNDR 24-hour price chart. Source: CoinMarketCap
" class="wp-image-175133" srcset="https://cdn.thebittimes.com/images/2024/05/10/c472038d528afac755764054b8d71ee9.webp 975w, https://cdn.thebittimes.com/images/2024/05/10/c472038d528afac755764054b8d71ee9.webp 300w, https://cdn.thebittimes.com/images/2024/05/10/c472038d528afac755764054b8d71ee9.webp 768w" sizes="(max-width: 975px) 100vw, 975px">
  <figcaption class="wp-element-caption">
   RNDR 24-hour price chart. Source: CoinMarketCap
  </figcaption>
 </figure>
 <p class="paragraph">It remains to be seen how the upcoming AI events impact the price of RNDR and whether it will manage to overcome its all-time high of $13.15, which seems within reach.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/nvidia-of-crypto-rockets-40-in-a-week-adding-over-1-billion-tbt87977.html">https://thebittimes.com/nvidia-of-crypto-rockets-40-in-a-week-adding-over-1-billion-tbt87977.html</a></p>

‘Nvidia of crypto’ rockets 40% in a week, adding over $1 billion

Table of Contents

TheBitTimes

Other articles published on May 10, 2024

SEC Ethereum Classification Is In Conflict Amidst Consensys Lawsuit

Bitcoin – Here’s how and why 2024 will be different from 2023

Crypto Analyst Updates Outlook on Altcoins and the Potential of an Ethereum (ETH) ETF Approval Th...

BlockFi partners with Coinbase for fund distribution, shuts down web platform

Toncoin Price Surges to $7

All Eyes Are on These Cryptos: Reasons Why Crypto Experts Are Watching These Altcoins

Join our free newsletter for daily crypto updates!