The serious correlation between Render Network (RNDR), one of the best performing crypto money projects of the last period, and NASDAQ drew attention.
Decentralized GPU-based solution provider Render Networkconsisting mostly of technology stocks NASDAQ serious correlation with the market was on the agenda. Since February synchronous This association of NASDAQ and RNDR acting in a way several possible reasons exists.
Apple and Nvidia expectations
Crypto fundamental analyst Jason Choi in a recent review of Render Network’s apple It is rumored that it will integrate with the US-based chip manufacturer. Nvidia speculations against the NASDAQ correlation biggest reason showed as. On the other hand, Choi artificial intelligence narrative is a source for gains in both tech stocks and RNDR. catalyst noted that.
US-based chip manufacturer Nvidia announced a balance sheet above expectations, artificial intelligence And GPU increased interest in technology. Nvidia’s competitor in the cryptocurrency market render in big attracted an interest.
On the other hand, Nvidia ChatGPT used to power and similar services artificial intelligence to your chips to meet the increase in demand increase the supply had stated. Render Network decentralized graphics processing Considering his work on the network global scale Its compatibility with technology stocks seems acceptable.
Especially in recent years, artificial intelligence and virtual reality Render, which brings these services together with the crypto money industry, has become the favorite subject of investors. separation from the entire market also due to these reasons.
However, the NASDAQ 4 days in from 5% RNDR has not yet performed as expected. According to some market analysts, if the difference between two investment vehicles correlation if it’s still ongoing RNDR will be coming soon may witness a rise.
NASDAQ final based on current prices 1 month in 10% on the rise RNDR during the same time %12 It increased. Looking at the last 3 months data, the rise on the NASDAQ side 20%if on the RNDR side 80%The rise was recorded. In this process, RNDR Among its top performing assets took place.
According to CoinGecko data, in the last 24 hours 1.7% rising RNDR, at the time of writing 2.64 traded in dollars.