Bitcoin and the cryptocurrency world are in a phase where optimism for continued growth persists. We have even started to receive news of all-time high records being set by some cryptocurrency units. Today, an altcoin set an all-time record. The price of the altcoin Render reached its highest level ever. Moreover, this increase was not hindered by a profit-taking of 31.65 million dollars.
Render Network Breaks Record
Altcoin Render Network (RNDR) reached its all-time high today, with the RNDR price surging to $10.30 on Binance. The narrative of artificial intelligence coins made a comeback with NVIDIA’s upcoming AI conference and Elon Musk’s lawsuit against Sam Altman.
Indeed, in recent days, there had been indications of potential capital inflows into artificial intelligence coins. The catalyst for this capital was said to be the AI conference taking place between March 17-21.
Render Price Rises Amid AI Coin Narrative
The price of Render Network climbed to $10.30 today. The AI coin saw a significant price increase on Thursday due to rising demand for the altcoin RNDR among market participants.
According to crypto intelligence tracker Santiment’s on-chain data, altcoin RNDR recorded an increase in Active Addresses and the number of whale transactions valued at $100,000 and above. These metrics indicate the level of interest in the asset and demand among investors. According to Santiment’s Realized Profit and Loss metric, Render owners have made a profit of 31.65 million dollars since the beginning of March 2024.
According to Santiment data, the social dominance of altcoin RNDR reached its all-time high as well as a six-month peak. This situation supports the bullish thesis and the possibility of further gains in the token. The cryptocurrency RNDR is trading at $9,739 at the time this article was written. Additionally, the market value of the token has surpassed 3.6 billion dollars today.
Thanks to the power of the artificial intelligence narrative, we see that especially AI-focused coins are gaining strength. Today, alongside the cryptocurrency RNDR, AI coins like FET, AI, and AGIX have shown a 30% increase, reflecting the strength of this narrative.
