Bitcoin
Can RNDR reach $25 in 2025?
Published
2 months agoon
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adminWith the 2025 bull run around the corner, the Render Network price can rise dramatically. The surge in demand for 3D graphics in entertainment raises the question: Could RENDER soar to $25 by 2025? Let’s explore the factors at play.
What is Render?
The Render Network is a decentralized platform for GPU rendering that allows artists to use powerful GPU nodes worldwide for their projects on demand. Node providers contribute their unused GPU power to a blockchain-based marketplace, which enables faster and cheaper rendering than traditional centralized services. In this system, the Render token serves as the medium of exchange between users and providers of GPU power.
Moreover, Render Network is part of the OTOY technology stack, which uses OctaneRender software. The integration extends to widely used applications such as Blender, Adobe After Effects, Houdini, Autodesk Maya, Unreal Engine, and more.
Market potential
The entertainment industry, particularly gaming and cinema, is the primary market for 3D graphics rendering. The demand for computer-generated imagery (CGI) and animation only continues to grow. For example, according to PwC Global, the entertainment sector can potentially exceed $3 trillion in value.
The growing demand for 3D graphics will favor platforms such as Render that offer scalable rendering services. Additionally, the Render Network’s availability on multiple blockchain networks – Ethereum, Polygon, and Solana – provides additional flexibility and reach. Among these, Solana stands out as particularly capable of handling increased rendering workloads due to its high scalability and cheap transaction fees.
Furthermore, Render has already collaborated with major productions, including the VR experience for “Batman: The Animated Series” and the opening titles for “Westworld.”
Market position
As of July 25, Render Network is number 2 in distributed computing, second only to Internet Computer, and ranks 32nd in the broader crypto market with a market cap of around $2.6 billion.
While some folks might be popping hopium pills and dreaming of tokens skyrocketing to $100 or even $1,000, the price analysis must be realistic. Render’s already high-ranking position limits its growth potential. It’s not really about crushing dreams but about looking at the market with clear eyes instead of rose-tinted glasses.
Inflation and supply
Render Network does not face significant concerns over token unlocks, as most tokens have already been unlocked. The only new tokens entering circulation are due to the inflation rate, set at 760,567 RENDER per month to incentivize users. However, the actual circulating supply has inflated differently. From January 2024 to July 2024, the supply increased by 18,950,928 RENDER, resulting in a 5.1% inflation rate over six months.
The Burn Mint Equilibrium deflationary mechanism has not prevented this level of inflation. If the trend continues, the annual inflation rate will reach 10.2%. This metric is crucial for forecasting the supply by mid-2025 to accurately assess the token’s valuation. Starting with a supply of 390,859,381 tokens, the projected supply would be approximately 430,727,038 RENDER.
Correlation with Bitcoin price movements
Analysis of the Pearson correlation coefficient between RENDER and BTC from 2020 to July 2024 shows a correlation of 0.727. The result indicates a strong linear relationship, with RENDER’s price movements closely following BTC’s.
The analysis also looked at the yearly standard deviations for RENDER and BTC, which were 1.725 and 0.616, respectively. Furthermore, RENDER had annual returns of 235.69%, while BTC had 62.98%. These numbers helped create a model to predict RENDER’s price changes based on BTC’s movements.
RENDER | BTC | |
---|---|---|
Annual Return | 235.69% | 62.98% |
Annual St. Deviation | 1.725 | 0.616 |
Pearson Correlation Coefficient | 0.727 | 0.727 |
Render’s 2025 bull run price analysis
We developed a model with three scenarios: bear case, base case, and bull case. These scenarios correspond to BTC prices in 2025 of $100,000, $150,000, and $200,000, respectively. By standardizing the changes in BTC and RENDER, we calculated the expected price for RENDER in each scenario. The calculations assume a BTC price of $65,000 and a RENDER price of $6.80 as the starting points:
Bear Case | Base Case | Bull Case | |
---|---|---|---|
BTC | $100,000 | $150,000 | $200,000 |
RENDER | $14.26 | $24.91 | $35.57 |
The base case scenario appears to be the most realistic. Given the calculated supply, it projects RENDER reaching a market cap of approximately $10.73 billion and a price of $24.91. This market cap seems achievable, considering RENDER will not be the only token to rise during a bull run.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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Bitcoin on the Cusp of Breakout Into Parabolic Phase, Says Crypto Analyst – Here’s the Timeline
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September 19, 2024By
adminA cryptocurrency analyst and trader is saying Bitcoin (BTC) is on the verge of entering a bullish phase over the coming weeks and months.
The analyst pseudonymously known as Rekt Capital tells his 88,100 YouTube subscribers that Bitcoin is “on the cusp of a breakout into the parabolic phase” after spending the past few months in a re-accumulation phase.
According to Rekt Capital, Bitcoin’s parabolic phase lasts a predictable amount of time in every cycle.
“So if we just see that 160 days after the halving is how long this re-accumulation phase lasts and we tend to see a bull market peak 550 days after the halving, then this parabolic phase should last 390 days or so, 400 days or so.
So it is roughly a year of parabolic upside that we see going into the bull market peak. And if that continues, indeed mid-September 2025, mid-October 2025 is when we would see a bull market peak occur for Bitcoin.”
Bitcoin is trading at $59,958 at time of writing, about 19% below the all-time high of approximately $73,800.
The pseudonymous analyst says that based on historical precedent, Bitcoin could hit a new all-time high over the coming days.
“…but we will reverse towards the upside at some point. And that point is coming quite soon because 160 days after halving is when we see a breakout to new highs.”
The Bitcoin halving occurred around 151 days ago on April 20th.
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Bitcoin
Hut 8 deepens Bitmain partnership with launch of new ASIC miner in 2025
Published
12 hours agoon
September 19, 2024By
adminBitcoin miner Hut 8 is expanding its partnership with Bitmain to introduce a new ASIC miner with direct liquid-to-chip cooling, set to deploy in Q2 2025.
Miami-headquartered crypto mining firm Hut 8 has expanded its partnership with Bitmain, announcing the upcoming launch of the U3S21EXPH, a next-generation ASIC miner capable of reaching up to 860 TH/s.
In a Sept. 19 press release, the company the miner, which is scheduled for deployment in Q2 2025, is the first mass-commercialized ASIC model to feature direct liquid-to-chip cooling in a U-form factor.
“We believe this model represents a more thoughtful approach to capturing the lucrative economics offered by next-generation machines, reducing upfront capital requirements while we continue to pursue growth initiatives in AI infrastructure.”
Asher Genoot, Hut8 chief executive officer
Under the hosting agreement, Hut 8 has the option to purchase all or a portion of the hosted miners in up to three tranches at a fixed price within six months of deployment. If Hut 8 exercises the option in full, the company’s self-mining hashrate is expected to increase from 5.6 EH/s to 20.6 EH/s, the press release reads.
The agreement is designed to minimize upfront capital expenditures and provide flexibility for future purchases, allowing Hut 8 to assess market conditions “before committing additional capital,” per the document.
The news comes after Hut 8 secured a $150 million investment in June from Coatue Management to accelerate its artificial intelligence infrastructure development. At the time, Hut 8 said the investment was made as “many traditional data center operators are failing to meet the surging demand for AI compute capacity due to power shortages.”
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Bitcoin
Louisiana State Government Now Accepts Bitcoin Lightning As Payment
Published
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September 19, 2024By
adminLouisiana State Treasurer, John Fleming, M.D. has announced that the state government will now accept Bitcoin, Bitcoin Lightning Network, and USD Coin, as a valid form of payment for state services. The first cryptocurrency payment was made to the Louisiana Department of Wildlife and Fisheries today.
Dr. Fleming, described this initiative as a crucial step in modernizing government operations, stating, “In today’s digital age, government systems must evolve and embrace new technologies. By introducing cryptocurrency as a payment option, we’re not just innovating; we’re providing our citizens with flexibility and freedom in interacting with state services.”
The Bitcoin payments will be converted into U.S. dollars by Bead Pay, a provider specializing in cryptocurrency conversion for government transactions. “The State of Louisiana will not handle cryptocurrency,” clarified the announcement. This system aims to ensure that the state is protected from the volatility commonly associated with digital currencies. The conversion process mirrors that of credit or debit card payments, minimizing risks while offering secure, efficient transactions.
Louisiana’s shift to accepting Bitcoin is a part of a broader effort to integrate new technologies into public services. “I have been proud to author several bills related to digital assets and to Chair the State Treasurer’s task force in 2022,” said Louisiana State Representative Mark Wright. “I’m excited to see Louisiana further expanding its payment options under Treasurer Fleming. I look forward to working with him and others so that Louisiana will continue to be a leader in accepting digital payments.”
Louisiana expects the new payment options to reduce fraud and enhance overall transaction security. Residents can now use their private Bitcoin wallets to pay for services, while the state continues to receive payments in U.S. dollars.
The Louisiana Department of Wildlife and Fisheries was the first state agency to adopt the new payment system, with more departments expected to follow. “Offering our sportsmen more ways to interact with our department allows for us to enhance our customer service,” stated Secretary Madison Sheahan of the Louisiana Department of Wildlife and Fisheries. “This is another step towards our goal of creating a modern and professional organization that better serves the sportsmen of the state.”
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