In a recent surge following a robust quarterly performance by eminent GPU-manufacturer Nvidia, the Render (RNDR) token saw a significant leap. Nvidia stocks witnessed an uplift of approximately +3% affixed to the smashed market presumptions around Nvidia’s Quarterly Report. This surge was largely attributed to the burgeoning investor interest in companies set to make a hefty profit from the AI boom.
Indeed, Nvidia’s earnings have outdone expectations with sales amounting to $13.5 billion and earnings per share at $2.45 last quarter, toppling the analyst estimates of $11.2 billion and $2.08 respectively. Amidst this invigorated enthusiasm around GPU-related companies, Render has been catapulted into the spotlight. As we know, Render is the inaugural crypto project focused on decentralizing GPU rentals.
However, with this robust uplift, some investors may wonder if it’s now far too late to buy Render. Despite heightened market excitement around GPUs, Render currently trades at a market price of $1.45, with a 24-hour change of -0.82%. However, indicators such as the Relative Strength Index (RSI) which sits in a ‘cooled-off’ position at 35.7, and the Moving Average Convergence Divergence (MACD) which is nearly bullish, hint at a potential upward price push.
On the other hand, Render’s risk-reward ratio currently stands at an unfortunate 0.52. This suggests a not-so-enticing entry point for potential investors and traders due to the high risk.
In the wake of these market shifts, there’s been an observed uptake of AI analytics by higher PnL traders. One such AI-led platform making waves is Launchpad XYZ (LPX). This enterprising ecosystem is designed to smooth the entry pathway to Web 3.0 with intuitive tools and analytics, and is currently in a limited time purchase window.
As its primary functions are slated for roll-out in the third quarter of 2023, Launchpad XYZ is set to challenge the conventional functionality of the crypto industry with its $LPX token that offers holders numerous benefits. These include excellent fee discounts, early access to NFT mint whitelists, and presales among others.
Moreover, the ecosystem plans to list LPX on leading cryptocurrency exchanges, thereby propelling the demand for the token. Thus, whether a novice or seasoned investor, Launchpad XYZ emerges as a platform to pay heed to in 2023, proving itself as a promising investment avenue.
Despite the potential upside, remember that crypto is unpredictable and high-risk. Therefore, be sure to conduct thorough research and exercise sound judgment before making any investment decisions.
Source: Cryptonews
