The render (RNDR) token has emerged as one of the top gainers in the last 24 hours, with most altcoins in green, thanks to bitcoin’s (BTC) latest match above $30,000.
Altcoins green as BTC price screams higher
As the U.S. banking crisis continues, with First Republic Bank (FRC) now on the verge of kicking the bucket, bitcoin (BTC), the world’s flagship crypto resumed its upward push today, surging to as high as $30,036.
As expected, bitcoin’s latest increase of more than 8% in the 24-hour timeframe is having a bullish effect on the cryptocurrency markets, as most altcoins have recorded decent gains so far, with the global crypto market cap now standing at $1.23 trillion, representing a 6.65% increase over the last day, according to CoinMarketCap.
RNDR token, the native cryptocurrency of render, a distributed GPU rendering network on the Ethereum blockchain, has been one of the top gainers in the last 24 hours.
At the time of writing, the price of RNDR is hovering around $2.40, representing an increase of more than 33% in the past 24 hours. RNDR has a market cap of $875,534,749, with a 24-hour trading volume of $248,508,029, according to CoinGecko.
RNDR is a utility token used by artists on the Render network to purchase GPU compute power from node operators on the platform.