• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
Render

Render (RNDR) Poised To Weather Market Storm With Solid AI Prospects

Christian Encila by Christian Encila
3 weeks ago
in Cryptocurrency Market News
Reading Time: 4 mins read

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

Tags: AIcryptocurrenciesmacroeconomicsprice analysisRNDR
Tweet123Share196ShareSend
Christian Encila

Christian Encila

Christian is a former journalist and editor, as well as a layout design consultant, who previously held leadership positions at Sun.Star News Philippines and Ang Peryodiko News, a local daily in Manitoba, Canada. Alongside his passion for writing, he is an avid fan of cryptocurrency and works tirelessly throughout the week. When he's not on his computer, you can find him tinkering with his old motorbike as a grease monkey, or lounging on the patio hammock while pondering about artificial intelligence and whether he'll ever understand his cat's thoughts and calmness.

Related Posts

Bluelight Game Mechanics Overview

Bluelight Game Mechanics Overview

2 hours ago
Celsius

Celsius Sets New Standard: $1 Billion In ETH Staked As Deposits Show No Sign Of Slowing

10 hours ago
SEC XRP Lawsuit Keeping The Market Flat? Investors look for Alternative Routes, is HedgeUp and Chainlink the Answer?

SEC XRP Lawsuit Keeping The Market Flat? Investors look for Alternative Routes, is HedgeUp and Chainlink the Answer?

15 hours ago
Baby Dogecoin Moves 2.5% in Holders favour, whilst HedgeUp Provides Investors with 300% gains

Baby Dogecoin Moves 2.5% in Holders favour, whilst HedgeUp Provides Investors with 300% gains

15 hours ago
ArbDoge AI Vs HedgeUp, AI Chatbot ChatGPT Predicts Who Reach $1

ArbDoge AI Vs HedgeUp, AI Chatbot ChatGPT Predicts Who Reach $1

16 hours ago
Baby DogeCoin (BABYDOGE) and HedgeUp (HDUP), Expected to 10X in June. Experts Explain why

Baby DogeCoin (BABYDOGE) and HedgeUp (HDUP), Expected to 10X in June. Experts Explain why

16 hours ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    3 days ago
  • Willing to buy new crypto: Here are the best 10...

    3 days ago
  • Best Crypto Meme Coin Presales in 2023

    3 days ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Social Trading Phenomenon – How It Has Changed the...

    42 mins ago
  • Don’t get dumped on buying DOGE or SHIB, Avorak has...

    14 hours ago
  • Crypto Enthusiasts Believe DigiToads (TOADS) and Aave...

    15 hours ago
  • Investors Seeking High-Yield Cryptocurrency Investments...

    15 hours ago
  • Choosing the best Forex broker | A Comprehensive Guide

    19 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.