In a surprising twist at Apple’s recent keynote, Tim Millet, vice president of platform architecture, gave a brief shout-out to Octane, a 3D design software that utilizes the Render Network.
This fleeting mention during the unveiling of Apple’s latest iPad equipped with the M4 chip was enough to catch the attention of traders and drive the price of Render Token (RNDR) up by 11%. Over the last week, this uptick has contributed to an overall 40% increase in RNDR’s value.
Millet highlighted Octane’s robust performance capabilities on the new device, noting, “Pro rendering apps like Octane will flat-out fly,” which underscored the potential for integrated technology between Apple products and advanced rendering applications.
Influence of Tech Endorsements on Render Token
The crypto community quickly responded, with notable figures like pseudonymous trader D0c Crypto emphasizing the visibility of the $RNDR logo during the presentation. This exposure comes at a critical time as Bitcoin and other cryptocurrencies have shown mixed responses to market conditions.
While Bitcoin has seen a modest 5.5% gain over the same period, other AI-focused cryptocurrencies have recorded significant gains. Fetch.ai rose by 12.88%, The Graph increased by 20.28%, and SingularityNET was up by 16.18%. These movements are reflective of a broader interest in AI technologies, as indicated by the market’s “Greed” score of 66 on the Crypto Fear and Greed Index, signaling a bullish outlook among investors.
The focus now turns to the upcoming Nvidia earnings report, expected on May 22. Historically, Nvidia’s performance has been a bellwether for AI token prices, making this a highly anticipated event for traders.
As the synergy between high-tech hardware advancements and cryptocurrency continues to evolve, the implications for both sectors are profound, potentially setting the stage for new benchmarks in digital asset valuation and technology integration.