The meteoric rise of AI Tokens in the crypto market, particularly artificial intelligence-based ones like Render $RNDR and SingularityNET $AGIX, is often associated with the mainstream adoption of AI tools like ChatGPT. Historically, crypto projects have garnered investor trust based on individual token success and adoption over time, and these AI tokens are no exception.
The Render token community is abuzz with speculation on whether they could leverage the upcoming Apple 2023 Worldwide Developers Conference (WWDC) to their advantage. The Apple WWDC 2023 event, scheduled for June 5, 2023, is anticipated to reveal the much-awaited Apple VR headset. In this context, Apple’s Augmented Reality (AR) and Virtual Reality (VR) product launch is linked with a potential rise in demand for Render tokens.
The connection between Render and the Apple AR/VR headset lies in Render’s blockchain-based distributed GPU rendering network. As the AR/VR industry expands, it will likely require substantial Graphics Processing Unit (GPU) resources, something the Render network is primed to provide through its blockchain-based distribution. Consequently, Render token prices are rumored to increase as a result of the Apple headset launch.
Adding fuel to the rumor mill, the headset’s functionality is speculated to involve crypto payments, though no confirmation has been provided. MachineAlpha, a Twitter account promoting RNDR tokens, believes that the booming AR VR industry, projected to be worth trillions of dollars, will require massive GPU resources for AI and rendering, which could position RNDR to lead the charge in the upcoming crypto bull run.
Render’s potential to benefit from the NVIDIA price rally, as reported by CoinGape, further supports its bullish momentum. Due to its association with AI trends, Render is considered one of the best crypto coins in terms of risk-reward ratio. RNDR token’s rounding bottom pattern formation also lends credence to the viability of a 28% rise probability.
However, not everything is set in stone, as Senator Elizabeth Warren recently hinted at a new crypto bill designed to close legal loopholes. While these developments are undoubtedly fascinating, it’s essential to remember that market conditions can change rapidly. Invest wisely and conduct thorough market research before including cryptocurrencies in your investment portfolio.
Source: Coingape
