RNDR Could Get Lot of Jet Fuel Heading Into the Next Bull Run: Analyst

• Popular analyst Ben Armstrong of BitBoy Crypto released a video detailing why he believes RNDR could soar in the next bull run.
• “I could see it running all the way up to $10.00 before hitting some psychological resistance,” predicted Armstrong.
• Armstong admitted that he does not have RNDR at the moment but assured his followers that he was going to keep an eye out for a good entry.

Crypto analyst Ben Armstrong, popularly known as BitBoy Crypto, uploaded a video earlier today highlighting the Render project and its token RNDR. “Based on the strong fundamentals and interest we’ve seen during the bear markets, I think Render could get a lot of jet fuel heading into the next bull run,” remarked the renowned analyst. 

In the 9-minute video, Armstrong detailed why he believes Render to be a promising project and what he expects it to achieve in the coming weeks. “Since January, Render has been one of the biggest movers of shakers in the bitter cold of crypto winter. Currently trading at about $2.20, Render is up in ice, melting 450% to date,” said the analyst.

Armstrong explained that founded in 2016, the Render community accepted 2 proposals RMP 002 and RMP 003 on April 26th of this year, which improved in migration to the Solana blockchain. Render Network said in a statement that they chose Solana because of its high TPS and low latency, which would enable the decentralization of core rendering processes.

Moreover, Render Network is funding the development of open-source Rust GPU tools for the Render SDK to enable developers to use a Solana smart contract virtual machine and Render Network GPU nodes together. According to Armstrong, this is a very powerful combination.

With a price of about $2.20 and a market cap of just over $800 million, Render has a current circulating supply of around 366 million Render tokens, at press time. “By the time we get to the high to the next bull run, depending on usage of its network and its mint and burn mechanism, we could be looking at somewhere around 470,000,000 tokens. On the low end, I think Render will certainly make a run and its all-time high could hit resistance around 8 bucks,” predicted Armstrong. 

If Render keeps riding the momentum and breaks previous all-time highs, as it very well could, I could see it running all the way up to $10.00 before hitting some psychological resistance as prices tend to do that level.

However, Armstrong argues that if everything goes their way and they start to eat into the market share captured by giants such as Amazon, Microsoft, and Google, there’s no telling how high Render could go. “Could see it getting up to as much as $15 in the next bull run.” Even though Armstong admitted that he does not have RNDR at the moment, he assured his followers that he was going to keep an eye out for a good entry.