Can RNDR continue its climb?
Key Takeaways
- RNDR has performed well in 2023 so far, growing by 270%.
- The Render platform has suggested the latest iPhone could be compatible with the system.
- What’s next for the Render Token?
- One Render Token price prediction says it can reach $5.20 in two years time.
The Render Token has been one of the biggest crypto success stories of recent weeks. The token has seen something of a recovery from August’s market crash. With the Render platform suggesting that Apple’s latest iPhone could be compatible with the graphics network, all eyes will be on what RNDR is doing next.
Render did not immediately respond to a request for comment.
But what is Render Token (RNDR)? How does Render work? Let’s see what we can find out, and also take a look at some of the Render Price Predictions that were being made as of September 13 2023.
Render Token Price Prediction
Let’s examine some of the Render Token price predictions being made on September 13 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
| 2023 | 2025 | 2030 | |
|---|---|---|---|
| Prediction #1 | $3.02 | $5.08 | $15.20 |
| Prediction #2 | $1.13 | $3.15 | $0 |
| Prediction #3 | $2.23 | $5.20 | $12.62 |
First, CoinCodex had a short-term Render price prediction which said things would get worse before they got better. The site said RNDR would drop to $1.39 by September 17 before recovering to $1.65 by October 12. The site’s technical analysis was just about bearish, with 14 indicators sending downbeat signals and 13 making bullish ones.
Render Token Price Prediction for 2023
DigitalCoinPrice said that RNDR would shoot up to $3.02 at some point this year. CaptainAltCoin was not so upbeat, saying the crypto would fall to $1.13 by December. Bitnation was somewhere between the two, claiming the Render Token would reach $2.23 in 2023.
Render Token Price Prediction for 2025
Moving on, Bitnation said the Render Token would trade at $5.20 in two years time. CaptainAltCoin said it would get to $3.15 then, while DigitalCoinPrice saw it worth $5.08 in 2025.
Render Token Price Prediction for 2030
Looking at a more long-term Render Token price prediction, DigitalCoinPrice thought RNDR would be worth $15.20 in 2030. Bitnation said it would stand at $12.62 that year. On the other hand, CaptainAltCoin was not so upbeat in its RNDR price prediction. The site said Render Token would be worth $0, a de facto dead coin, by the start of the next decade.
RNDR Price History
Now, let’s examine some of the highlights and lowlights of the Render Token price history . While we should never take past performance as an indicator of future results, knowing what the crypto has achieved can provide us with some very useful context if we want to make or interpret a Render price prediction.
Render was first publicly traded in June 2020, when it was worth about $0.46. There were some ups and downs before things really kicked off early the following year. The crypto market experienced a bull run and RNDR picked up, breaking past $2.50 in late March. While there was a downturn over the following months, things heated up again in the autumn. On November 21, it reached an all-time high of $8.76. It soon dropped, though, and it closed the year at $4.61.
2022 saw the market in turmoil. Render fell below the dollar in May, as the market crashed following the collapse of the Terra (LUNA) blockchain. Any attempts at a recovery were stifled when the FTX (FTT) crypto exchange declared bankruptcy in November and RNDR closed the year at $0.4025. This meant it lost more than 90% of its value over the course of 2022.
Render Token in 2023
So far, 2023 has been much better for RNDR. The token shot up at the start of the year, breaking back past the dollar in late January. There were peaks and troughs but Render has mostly stayed above that level since then. Not even June’s news that the United States Securities and Exchange Commission (SEC) was suing the Binance and Coinbase exchanges could drag it down.
Although the market’s downturn in late August and early September, triggered by Elon Musk’s SpaceX selling millions of dollars worth of Bitcoin (BTC), RNDR recovered. By September 13 2023, it was worth about $1.50.
At that time, there were 371.9 million RNDR in circulation out of a total supply of 530.9 million. This gave the token a market cap of $552.8 million, making it the 58th-largest crypto by that metric.
Render Token Price Analysis
RNDR has been one of the better-performing cryptos in recent weeks. It is up nearly 10% from the $1.37 it was worth at the start of the month. It is also up almost 8% from its September 11 low of $1.39. On the other hand, though, it is down more than 6% from the $1.60 it traded at on August 17. Nevertheless, RNDR has grown by around 270% since the start of the year.
Is the Render Token a Good Investment?
It is hard to say. RNDR has been a pretty solid performer over the course of the year, avoiding the worst of potential crypto crises. It will be interesting to see whether the iPhone 15 can lead to new developments for the platform.
On the other hand, RNDR is still down from where it was earlier in the year and is a long way from threatening its all-time high.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in RNDR.
Will the Render Token go up or down?
No one can really tell right now. While the Render Token crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in the Render Token?
Before you decide whether or not to invest in Render, you will have to do your own research, not only on RNDR, but on other coins and tokens, such as Polkadot (DOT). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
From the Whitepaper
In its technical documentation, or whitepaper , Render says it wants to make creating graphics on the blockchain easier.
It says: “The Render Network is a high-performance distributed GPU rendering network that leverages industry-leading OTOY Inc. software to facilitate a compute marketplace between GPU Providers and GPU Requestors.”
Render Token (RNDR) Explained
The Render Network’s purpose is in its name. The system allows people to create their own video game graphics on the blockchain. Crypto entrepreneur and graphics expert Jules Urbach founded the platform in 2017 as a de facto subsidiary of his OTOY platform.
The system links people who want to render graphics to people who have spare graphic processing units (GPUs) on their computers.
As the system’s website says: “The future is being built today and hardware limitations should not be what keeps you from being a part of the new digital renaissance. Render puts the power of GPU rendering at your fingertips, at a fraction of the cost and speed of in-house rendering.”
The platform was originally based on the Ethereum (ETH) blockchain. In April 2023, however, a vote of holders saw it move to the Solana (SOL) blockchain.
The RNDR token supports the Render Network.
How Render Token Works
The Render Network uses smart contracts, computer programs that automatically execute once certain conditions are met, to ensure standards.
The project consists of three major components working together
- Creators, who purchase services using RNDR.
- Node operators, who help supply GPU power in return for RNDR..
- Octane Render, which creates graphics.
In terms of RNDR itself, it pays for transactions on the network. RNDR holders can vote on changes to the platform. People can also buy, sell, and trade it on exchanges.
Because Render is not based on its own blockchain, it is a token, not a coin. It was a token when it was on Ethereum and it remains so on Solana. Therefore, while you might come across references to such things as a Render coin price prediction – or, worse, a Render Token coin price prediction – these are wrong.
FAQs
Will the Render Token reach $10?
It might do, but not for some time. Both Bitnation and DigitalCoinPrice say RNDR can reach $10 in 2029.
Keep in mind that Render has never traded above $10. Its highest ever price is $8.76, which it reached in November 2021.
What is the Render Token used for?
The RNDR token helps support the Render Network. It pays for transactions on the Render Network. People can also buy, sell, and trade RNDR on exchanges.
Further reading
MXC Price Prediction 2023: What is MXC?
ANKR Price Prediction 2023: What is ANKR?
Ben Price Prediction 2023: What is BEN?
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
