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Render (RNDR) Climbs 60% This Month, Keeps Investors Upbeat With These Developments

With AI enveloping much of the media we consume nowadays, Render (RNDR) rides the bullish wave around generative content. According to Coingecko, the token is up over 26% this week with the biggest jump occurring at the monthly timeframe at 60%. It shows that investors are still excited by Render’s possible role within the media space. 

The protocol is continuing to develop its capabilities relative to the needs of the media and AI industries. For example, 2023 brought Render to the eyes of the broader public as it carried out its first rendering jobs for the Las Vegas Sphere and Apple with its Apple Vision Pro. 

2024 is The Year For AI

The Render Network’s position as a decentralized GPU-based rendering solution provider is strengthened by this year’s developments in generative AI. One example that has been making rounds on the internet is Sora, OpenAI’s newest entry in the realm of generative content. Capable of creating high-fidelity prompts, Sora becomes the poster child of generative content. 

“What is exciting about this level of quality is how well defined 4D scene elements are preserved in latent space – IMO that is key to blending/decomposing neural generated assets within a rendered scene graph,” said the founder and CEO of OTOY Jules Urbach, highlighting the role of Render in the coming future. 

“I believe crossing over this threshold in the very near future will be life-changing for many creators and artists. High friction pain points in digital content creation may soon be re-imagined –  without limiting the value and artistry of authentic human creativity and expression,” Urbach added.

Along with the variety of AI products released by big tech companies like META, NVIDIA, and Google, investors are eyeing the growth of Render as a major player in the cloud-based rendering space.

More Partners, More Growth 

Since its implementation of RNP-004, partnerships with other Web 3 organizations has grown. This month, Nosana was added after RNP-008 was passed in the final vote. The new addition joins the likes of IO.net, Beam, and FedM1.

RNDR Slows As Market Becomes Sluggish 

As the hot and bullish market cools, RNDR follows the broader market in its decline in the coming weeks. Investors and traders should be wary of how RNDR reacts to outside pressure. With this in mind, bulls should target the 50% retracement level to slow down any bearish pressure in the short to medium term. 

If the bulls fail to materialize any resistance against the bears, the bears can bring RNDR down to $4.6. 

Featured image from Pexels, chart from TradingView

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NEAR Skyrockets Nearly 30% – Investors Intrigued By These Metrics

NEAR has consistently followed the market trend since the start of the year. The latest market data shows the token is up nearly 30% bi-weekly. This is evidence that investors are still hyped by the recent growth featured within the broader market and the recent developments on the NEAR Protocol. 

Account Aggregation: What’s The Gist? 

NEAR is continuing its mission to be the one-all-be-all for entry-level and professional entities within Web 3. Account aggregation, or the consolidation of Web 3 and crypto accounts into one NEAR account, is their current focus. 

Account aggregation is, according to their most recent blog post, a “critical pillar of advancing Chain Abstraction.” 

It essentially groups every single account you have across the crypto world into a single access point: your NEAR Protocol account. The technology is still in development, but it seems to incite excitement in investors.

If NEAR can implement this innovation seamlessly within its ecosystem and beyond, it will cement itself to be a true innovator within the DeFi and Web 3 space. 

According to a recent development overview done by Reflexivity Research, NEAR’s position allows it to be the bridge of all bridges within the crypto space.

By distilling various blockchains to create a seamlessly integrated Web3 encounter, the advantages extend beyond mere enhancements in user experience. This approach has the potential to not only enhance UX but also diminish liquidity fragmentation and tribalism inherent in a decentralized crypto ecosystem constructed around disconnected, isolated blockchains, as underscored in a response by NEAR to a Reflexivity post on X.

In simple terms, NEAR’s recent development can unite the fragmented Web 3 space, onboarding new users and bringing new growth to the crypto world. 

NEAR Approaching A Possible Ceiling

In its current situation, NEAR is following Bitcoin very closely in its price changes. Investors should then be careful of possible pitfalls within Bitcoin’s bullish market that may affect NEAR’s ability to climb. 

If bearishness does take over the market, investors can rely on the $2.8 price level to slow down any bearish attempt in the short to medium term. However, investors and traders should try and consolidate on this line if NEAR follows any downward pressure from the broader market. 

Featured image from Adobe Stock, chart from TradingView

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UNI Jumps Over 12% – Here’s Why Investors Flock To This Token

A few outliers continue to break through the bearish attitudes looming over the crypto horizon of late. UNI is one of those tokens, with an impressive jump of over 12% in the past 24 hours, investors have flocked to this altcoin in search of a bullish continuation. 

The first quarter of this year brings a lot to the table for investors. Just this month, Uniswap reported that its deployment on Arbitrum led to the swap volume on the latter to jump by a significant amount. The news is also coupled with exciting new info on Uniswap’s latest agenda: the launch of Uniswap v4. 

What Is Uniswap V4? 

After news that Ethereum, Uniswap’s L1, will have its Dencun upgrade in this year’s first quarter, Uniswap then announced that their latest iteration of the protocol would be launched sometime in Q3 2024. 

In essence, Uniswap v4 is a more efficient and cost-effective brother of v3. According to Uniswap’s own website, it is a “non-custodial, non-upgradeable, and permissionless automated market maker protocol.”

In the announcement, v4 is currently in its first phase with the developers finalizing the core functionalities and features of the upgrade. The update would let the team create new features on top of the current AMM design of the protocol. This eliminates the need for creating an entirely new design from the ground up. 

Leading The Innovation Charge

Uniswap is also ramping up its effort in providing funding for innovators in the Web 3 space. Last week, the Uniswap Foundation X account released a detailed look at the organization’s new granting strategy. 

In short, the new strategy revolves around granting a minimum of $250,000 in four audience-specific categories: developers, researchers, delegates, and innovation (all stakeholders). 

For now, no date of implementation has been announced for these new grants. 

UNI: Challenging Week Ahead For Investors

The lead-up to the month of March has certainly brought a level of hype around the broader market, but thus hype has since died down and was replaced by profit-taking attitudes. UNI will inevitably experience this bearishness taking hold in the coming weeks as the market potentially dips. 

If this happens, investors and traders have strong support on the 50% and 38.20% price levels. These supports will slow down any bearish advance, stabilizing UNI’s price at the $7.3 and $7 range. 

Featured image from Adobe Stock, chart from TradingView

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NEAR Hits New High Since 2022 – Will The Bears Get In The Way? 

The past two months have been a green flag for the broader crypto market in the run-up to the festive season. Although the hype has since cooled down, a few outliers continue to follow the upward trend. NEAR is one of those tokens that aren’t showing signs of cooling down.

According to Coingecko, the token is up nearly 8% in the daily, with the biggest jump being at 23% in the weekly timeframe. With this price ascent, NEAR just reached a new high of $2.81. The token hit its all-time high of $20.42 in January 2022. 

The token’s market capitalization has likewise ballooned significantly, currently priced around $2.8 billion. Several on-chain integrations power this new wave of bullishness for NEAR. 

NEAR: Monolithic And Modular?

Recently, eyes are on NEAR as it continues to improve its systems. According to a Medium article last week, the protocol is implementing more changes to become what they call “a monolithic going modular” blockchain. 

“In a monolithic blockchain, all four functions are executed by the same set of nodes. This has some benefits, such as high security, easier deployment, and potentially improved utility for users thanks to the ability to specialize the entire network,” the Medium article said. 

Although the NEAR team says that the token is a monolothic chain, its implementation of sharding do not overwhelm individual validators. However, this isn’t enough for users as both users and developers quickly realized that publishing on Ethereum becomes an expensive ordeal. 

But NEAR DA aims to change that. 

NEAR DA (“DA” meaning data availability) will give rollup operators access to NEAR’s storage capacity. 

“NEAR runs four shards with roughly 16MB throughput a second. Assuming 100 bytes per transaction, you can store quite a significant amount of your data on NEAR at a fraction of the cost of publishing to NEAR,” the article explained.

As of writing, only a handful of rollups are using NEAR DA; namely Caldera, Fluent, and Movement Labs. Once this capability is in the hands of commercial users and other rollup operators, NEAR will be able to increase exposure to other investors. 

Meanwhile, according to Artemis data, there has been a significant increase in network activity on the NEAR blockchain since the beginning of the month.

The data source claims that there has been a 975% increase in the daily count of unique wallet addresses sending on-chain transactions on the network.

How Does This Affect NEAR’s Price? 

As of now, the token is on its way to break through $2.90 price ceiling. However, it seems that the January 2022 high of $20.42 will be a tough nut to crack as the bears mount a strong defense. But the advent of strong on-chain development along with good market conditions will bring more bullishness in the short to medium-term. 

For now, investors and traders should brace for a possible correction towards $2.25 once the hype starts to settle down. 

Featured images from Shutterstock