Render (RNDR) Poised To Weather Market Storm With Solid AI Prospects
10 Mai 2023 - 5:08PM
NEWSBTC
The governance token of Render has been performing poorly in the
past few days as the bears took control of the market. According to
CoinGecko, RNDR is down 7% in the past 24 hours, indicating that
the general market downturn affected its upward momentum. However,
external developments might help a bullish scenario to form.
In the case of Render, its entry to the AI space earlier this year
will inevitably help the token reverse the bearishness surrounding
the crypto market. Source: Coingecko Stable Diffusion is LIVE on
the #RNDR site! 😱@ProTharan‘s awesome thread shows you how you can
give it a try! This is definitely a game-changer for the way AI
technology will be used and deployed in the coming years!
@RenderToken & @StabilityAI 🦾 https://t.co/ytHk7jth9M — Render
Network | RNDR (@RenderToken) April 17, 2023 Big Tech Invests In
Blockchain and AI – Here’s What We Know The new wave of AI
announcements by corporate heavyweights may help revive prices of
AI-based crypto assets like Render, SingularityNET, and Fetch.ai.
Recently, tech giant Microsoft experienced a bout of bullishness a
few months after announcing its $10 billion investment in OpenAI,
the creator of the popular AI tool, ChatGPT. This was part of
Microsoft’s expansion into the artificial intelligence industry,
with the company releasing an AI chatbot for Bing, its in-house
search engine. Microsoft is also planning to enter the crypto
industry along with major players in the finance space. Bitcoinist
has reported yesterday that Goldman Sachs, Microsoft, and Deloitte
are partnering up for a major blockchain partnership. Over 30 other
companies will participate in this project set to be launched later
this year. Recent announcements from major US corporations
including Meta, Humane, IBM, and Wendy’s have also bolstered the
narrative surrounding AI tokens. Related Reading: PEPE Token
Futures Cast Gloom For Investors As Prices Plummet By 45% If these
innovative endeavors prove to be successful, the realm of AI on
Render stands poised to undergo a profound transformation, whereby
the emergence of AI-generated media, with its strikingly realistic
and captivating attributes, shall undeniably become increasingly
prevalent over the course of time. Render’s Foray Into AI Positions
It For Long-Term Success While the impact of major corporations
investing in blockchain and AI technology can be observed, the
financial market is currently grappling with challenges. The US
economy is approaching a potential default on its loans, leading
some investors to anticipate a dampening of market sentiment due to
forthcoming consumer price index data. Crypto total market cap
barely unchanged at $1.12 trillion. Chart: TradingView.com Related
Reading: Dogecoin Limps In A Bearish Market: What Traders Should
Watch Out For At the time of writing, the bears have temporarily
broken through the $1.76 support level. However, the bulls are
picking up the slack, but short buyers still dominate the market by
a small margin. However, investors and traders can find reassurance
in the Render Network’s underlying fundamentals, which are poised
to shape a bullish outlook. With its venture into the AI realm and
its utility in media creation, RNDR is poised to gain a significant
advantage in the long term. However, on a broader scale, if the CPI
data enters negative territory, the token might encounter
additional market challenges. -Featured image from Invezz
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