Recently, two popular altcoins have made a move. While one of them came to the fore with the developments in its ecosystem, the other attracted attention with its price movement. Here are the details…
Is Polygon going to make an important announcement?
In the cryptocurrency world, this week is getting ready to be busy for Ethereum Layer 2 scalability solution Polygon. Polygon is preparing for Asia Crypto Week, which will take place in Singapore from September 13-14. During this important event, Polygon plans to make important announcements and introduce special collections. Additionally, discussions will revolve around Polygon 2.0, zkEVM (Zero Knowledge Ethereum Virtual Machine) and the newly released Polygon chain development kit (CDK). Additionally, Polygon will attend Asia’s major stablecoin summit, focusing on real-world applications in emerging markets.
Polygon zkEVM mainnet beta is set to receive its first major upgrade, Dragon Fruit or ForkID5. Polygon zkEVM was launched in mainnet beta in March this year and represents a multi-purpose Ethereum scaling protocol with EVM equivalence. Dragon Fruit requires upgrading the Polygon.zkEVM.sol consensus contract. In accordance with Polygon zkEVM’s governance model, the upgrade process has been initiated and executed and is expected to be completed on September 10.
Altcoin RNDR’s price jumped
A bearish trend has dominated the cryptocurrency market lately, with major cryptocurrencies such as Bitcoin (BTC), Cardano (ADA), and Ethereum (ETH) showing predominantly negative performance. However, amidst this subdued market sentiment, a select few crypto assets have shown notable positive growth. One of them is Render Token (RNDR), which is up an impressive 10.10% over the past seven days, as reported by CoinMarketCap. This is notable considering the majority of the market has seen declines in their one-week performance. RNDR is currently trading at $1.48, with a significant trading volume of $20,818,258 in the last 24 hours, representing a significant increase of 36.52% compared to the previous day’s trading volume.
Earlier in the month, RNDR traded at $1.35 on September 1, with over $23 million in trading volume in a 24-hour period. Additionally, Coincodex, a leading data analysis platform, predicts that RNDR could reach $3.45 after Bitcoin halving in 2024, suggesting double-digit growth potential by 2025. It is important to note that RNDR is an integral part of the Render Network, a decentralized GPU rendering ecosystem. Its primary purpose is to facilitate a seamless connection between artists, studios in need of GPU computing power, and mining partners looking to rent GPU talent.
RNDR was featured at the Apple conference
Additionally, the positive outlook for RNDR was reinforced three months ago at Apple’s Worldwide Developers Conference when the intersection between Apple’s virtual reality products and RNDR’s utility for AI-based solutions was highlighted. In summary, while the overall cryptocurrency market is facing a bearish trend, Polygon is poised to make a splash with its participation in Asia Crypto Week, and RNDR stands out as a crypto asset that defies market negativity with impressive growth prospects and valuable use cases in the GPU processing ecosystem.