Recently, two popular altcoins have taken action. While one came to the fore with the developments in its ecosystem, the other drew attention with its price action. Here are the details…
Will Polygon 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. Also, 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.
https://twitter.com/0xPolygonLabs/status/170073309407082162
Polygon zkEVM mainnet beta is set to receive its first major upgrade, Dragon Fruit or ForkID5. Polygon zkEVM was released in mainnet beta in March of this year and represents a multi-purpose Ethereum scaling protocol with EVM equivalent. 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 jumps
The cryptocurrency market has been dominated by a bearish trend lately, with major cryptocurrencies such as Bitcoin (BTC), Cardano (ADA) and Ethereum (ETH) predominantly underperforming. However, amid this stagnant market sentiment, a select few cryptoassets have shown remarkable positive growth. One is the Render Token (RNDR), which has seen an impressive 10.10% increase 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 36.52% increase 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 analytics platform, predicted that RNDR could reach $3.45 after Bitcoin halving in 2024, revealing the potential for double-digit growth 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 seamless connectivity between artists and studios that need GPU computing power, and mining partners who want to hire GPU talent.
RNDR was featured at the Apple conference
Also, the positive outlook for RNDR was reinforced when the intersection between Apple’s virtual reality products and RNDR’s utility for AI-based solutions was highlighted at Apple’s Worldwide Developers Conference three months ago. In a nutshell, with the overall cryptocurrency market facing a bearish trend, Polygon is preparing to make a splash with its participation in Crypto Week Asia, and RNDR stands out as a crypto asset challenging the market negativity with its impressive growth prospects and valuable use cases in the GPU processing ecosystem.
