Today, there was a remarkable development in the cryptocurrency world; Artificial Intelligence (AI)-based altcoin Render (RNDR) broke the weeks-long bear trend by showing a significant price increase. The altcoin price rose as high as $3.14. RNDR, which achieved this rise with an increase of 38.22% in the last 24 hours, was supported by a total transaction volume of $ 359,723,888.
With this massive growth, RNDR also increased by 31% on a weekly basis, thus erasing all past losses.
The remarkable growth spurt in question appears to be based on a major event of the RNDR community: Proposal RNP-007. Specifically, this offering aims to introduce FEMDL Innovation, a computing client and platform that “enables developers and businesses to easily, economically, and securely build, deploy, and monetize large language models (LLMs) and other generative AI applications.” .
FEMDL Innovation aims to facilitate the development and deployment of artificial intelligence applications, opening up the great potential in this field to a wider audience. This important offer from Render may open the door for artificial intelligence-based projects to achieve similar success in the future.
Another factor in this upward trend is the intense interest and positive reaction of the RNDR community to the proposal. According to Snapshot.org data, a total of 33,000 RNDR holders (91.34% of those who voted) voted YES on the proposal, while only 3,100 RNDR holders voted no, 8.66%. This high rate of positive votes can be considered as strong support for the proposal.
Moreover, the huge interest in this offer stands out as one of the main factors behind the rapid rise in the value of the RNDR token. It can be said that purchasing RNDR to vote for the proposal significantly increased the price of this altcoin.
The FEDML innovation can be considered a much-needed initiative in an era where the protocol is interacting with millions of people interacting with Large Language Model-powered chatbots. Acceptance of this proposal will enable the protocol to complement its numerous initiatives to strengthen its perspective through partnerships and incentive programs.
You can follow the current price movement here.