A signal came from Apple: That altcoin has its eyes on ATH!
#Render (RNDR) rose 11 percent after Apple mentioned Octane, a 3D design software powered by Render Network, in its M4 chip presentation.
Tim Millet, Apple's vice president of platform architecture, mentioned the software in his opening speech, which attracted the attention of investors. It was credited by many commentators for contributing to the rally the #RNDR📉 price experienced last week.
Participants noted the software's performance on the new iPad and commented, "Professional rendering apps like Oktane will definitely fly.
“You can literally see the $RNDR logo in the video,” crypto influencer D0c Crypto said in a May 7 post. The 11 percent price increase following the May 8 announcement contributed to RNDR's overall 40 percent increase over the past seven days.
Another crypto influencer, Mister Crypto, told his 104,700 X followers on May 9: “Bitcoin is falling, but RNDR doesn't care.”
Meanwhile, other artificial intelligence (AI) coins were generally bullish this week; Fetch.ai (#FET❤️ ) is up 12.88 percent, The Graph (#GRT. ) is up 20.28 percent, and SingularityNET (AGIX) is up 16.18 percent.
In the coming weeks, investors are preparing to watch AI coins closely as Nvidia, one of the largest manufacturers of graphics processing units (GPUs), releases its first quarter 2024 earnings report on May 22.
Investors have in the past attributed the AI token price movement to the performance of Nvidia shares.
Most recently, in April, when AI tokens experienced a slight decline overall, traders saw this as a buying opportunity ahead of Nvidia's earnings report in May.
Crypto trader CryptoGodJohn told his 668,100 Since then, Render is up 33 percent and Fetch.ai is up 6.5 percent. As many AI coins rallied last week, Nvidia's shares hit a 30-day high on May 6, kicking off the trading week at $921.40, according to Google Finance data.
