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‘Nvidia of crypto’ token is up over 800% in a year

'Nvidia of crypto' token is up over 800% in a year

As the majority of assets in the cryptocurrency sector resume their rally that has intensified in recent weeks, the past months have been particularly kind to artificial intelligence (AI) tokens, including the deemed ‘Nvidia of crypto,’ which has advanced by more than 800% in the last year.

Specifically, Render (RNDR), which has positioned itself as the ‘Nvidia of crypto’ due to its potential to become an essential AI infrastructure provider, has made an impressive upward move of 812% in the previous 12 months, racing from $1.90 to the current price of $11.28, as per the data on March 26.

RNDR token price 12-month chart
RNDR token price 12-month chart. Source: CoinMarketCap

Render and Nvidia

In particular, the platform allows users to rent out idle GPU processing power to others who need it for rendering tasks, thus aiming to democratize access to high-performance computer resources and create a global decentralized rendering network.

As such, Render Network attracted attention during the largest AI and GPU technology event of the year, NVIDIA GTC 2024, organized by Nvidia (NASDAQ: NVDA), which hosted Render’s founder and CEO Jules Urbach, who shared his company’s vision in the field of distributed GPU computing.

Together with other major names from the industry, including Near Protocol (NEAR) co-founder Illia Polosukhin, OpenAI COO Brad Lightcap, and others, Urbach has participated in showcasing the integration possibilities between blockchain and AI, which has contributed to the RNDR token rally.

Render token price today

At the same time, the native token of the decentralized graphics processing unit (GPU) rendering platform that utilizes blockchain technology to connect artists and creators with GPU power, has also raced 56.18% in the last month, riding on the wave of exceptionally positive sentiment in the crypto and AI markets.

RNDR token price 30-day chart
RNDR token price 30-day chart. Source: CoinMarketCap

By mid-March, the Render token had already attracted the attention of the wider crypto community by adding more than $2 billion to its market capitalization in a single week, increasing from $2.42 billion on March 5 to a massive $4.78 billion on March 11, as Finbold reported at the time. 

RNDR token price prediction

As for the RNDR price in the future, advanced AI algorithms expect it to continue growing, first hitting $38.05 in a month, and then stabilizing at about $30.90 in the next 12 months, which would represent increases of 237.32% and 173.94%, respectively.

RNDR price prediction 1-year chart
RNDR price prediction 1-year chart. Source: CoinCodex

All things considered, the RNDR token seems to have a bright future, not just in terms of its native platform, but also when looking at its price in the future, justifying the moniker the ‘Nvidia of crypto.’ However, the situation in the market can easily change, so doing one’s own research is critical before investing.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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