Cryptocurrency Analyst: RENDER Potential Increase Up to 90%

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Renowned analyst Javon Marks stated that if the Render Network token (RENDER) maintains above $7.843 and confirms an upward trend, it could break through to $15.338, with a maximum increase of 90%.

Recent Performance and Trends

Past 24 hours: Up 3.24%

Past 7 days: Up 5.69%

Current trading price is approximately $7.61, with a market cap close to $4 billion.

The recent consolidation has laid the groundwork for a potential significant breakout.

Key Factors Supporting the Increase

Increased Liquidity

In the third quarter of 2024, Coinbase provided perpetual futures contracts for RENDER, significantly enhancing its market liquidity and accessibility.

Increased Whale Activity

Large transaction volumes increased from 148,460 tokens to 866,180 tokens, indicating strong interest from institutions and high-net-worth investors.

Ecosystem Expansion

Collaboration and Service Expansion: Render Network partnered with OTOY and the Blender Foundation to provide free rendering services for 2 million Blender users.

Announced plans to utilize the computing power of 100-200 million Apple GPUs to further enhance distributed network capacity.

Future Outlook

Bullish Scenario: If it breaks through $7.843, the price could rise to $15.338, achieving a 90% increase.

Risk Factors: Whale activity could lead to short-term volatility, requiring close attention to market sentiment changes.

Summary

The strong growth momentum, ecosystem expansion, and increased liquidity of Render Network provide solid support for the future growth of the RENDER token. Although it may face volatility in the short term, its long-term potential remains worth watching.

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