1 week ago
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published: May 7, 2024 at 01:03 PM GST
May 7, 2024 at 01:03 PM GST 3 mins read News
- RNDR: Recent 4.3% surge to $10.43, $4,021,563,672 market cap, driven by AI developments and bullish predictions.
- TRB: 10.7% surge to $100.39, $257,288,009 market cap, Bullish Pennant pattern indicating potential uptrend continuation.
- TON: 12% weekly surge to $5.83, driven by Telegram’s 900M user milestone, indicating widespread adoption potential.
RNDR, TRB, and TON have all experienced recent price spikes in the crypto market. It turns out there is a special reason behind the spike in the prices of these three crypto coins
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1. Render (RNDR)
Render (RNDR), an AI-based cryptocurrency, surged by 4.3% in the past day, hitting $10.43. Its market cap is now approximately $4.02 billion, with a trading volume of $379.78 million, up by 4.07% in the same period.
Crypto analyst D0c Crypto has been monitoring RNDR’s movements closely. Through his X account, he celebrated RNDR’s success in surpassing the $10 mark. This increase was also driven by several factors, including strategic developments in the Render ecosystem and positive market predictions.
A few days earlier, he had optimistically stated that the market had bottomed, indicating a potential rally. His predictions appear to be coming true, as he predicts further growth driven by an AI rally from May 22 to June 10. Additionally, maintaining an uptrend is critical, and D0c Crypto notes that a daily close around $9.30 would signal bullish momentum.
2. Tellor (TRB)
There was a surge in the price of Teller (TRB) crypto by more than 10.7% reaching around $100.39 in the last 24 hours. Not only that, Tellor’s Total Value Locked (TVL) was also recorded to be more than $5 million on May 3, 2024. At the time of writing, Tellor Crypto’s market cap was around $257,288,009, with trading volume experiencing a 186.59% jump to $361,056,039 in that time. Last 24 hours.
Examining the Tellor price chart reveals the emergence of a “Bullish Pennant” pattern, typically indicative of continuation. This pattern materializes after a notable upward surge (flag pole), succeeded by a consolidation period marked by a converging triangle formation.
Price consolidation within a narrowing range, marked by converging trendlines, generally anticipates a potential breakout to the upside. If the TRB breaks above the pennant with increasing volume, this could indicate a continuation of the previous uptrend. A break above the pennant often results in a move at least as high as the previous flagpole, potentially targeting new highs beyond the $80.00 mark.
3. Toncoin (TON)
Despite TON witnessing a 4% decline within the past day, settling at $5.83, it has seen a notable surge of 10% over a week, coinciding with Telegram’s achievement of 900 million users. This uptick in user base serves as a testament to the platform’s widespread appeal, potentially influencing the broader crypto landscape. Consequently, the price of TON Token and the performance of other digital assets linked to the Telegram platform may be impacted.
Increased network activity can also be a driver of TON Token price increases. With the growth of Telegram users, there is potential for increased transactions and other activity within the TON ecosystem, which could create further demand for the token.
The future of RNDR, TRB, and TON in the crypto industry looks promising, buoyed by their recent successes and underlying strengths. As RNDR continues to leverage AI advancements, TRB navigates bullish patterns, and TON explores vast adoption potential through Telegram’s expansive user base, the trajectory appears positive. These cryptocurrencies are poised to contribute significantly to the evolving landscape of digital assets, driving innovation and adoption in the years to come.
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