Cryptocurrency analyst il Capo from Crypto recently declared his bullish stance on the altcoin Render (RNDR), causing a noticeable uptick in its price. This announcement by the renowned trader led to a 1% increase in RNDR’s value, as depicted in the graph showing the surge at 20:16.
RNDR, categorized among artificial intelligence-themed altcoins, faced a setback after not receiving the anticipated acknowledgment at a recent Apple event. Despite Apple’s previous use of Render’s product in a launch video, the altcoin experienced a decline. However, il Capo’s optimistic outlook on RNDR has injected new momentum into the market, with his statements potentially influencing price volatility for select altcoins.
The sudden price surge in RNDR following il Capo’s announcement, accompanied by an uptick in trading volume, suggests automated trading responses to the analyst’s posts. It is important to note that this information is not intended as investment advice.
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