RNDR is the original token of Render, a GPU rendering network built on the Ethereum platform. The project aims to connect artists and studios in need of GPU computational power with mining partners, and it has been benefiting significantly from the SocialFi trend.
Recent data from Santiment shows a notable surge in the number of new users of RNDR. The chart below illustrates that the growth of the Render network has been steadily increasing, from 121 new addresses on September 5th to a peak of 230 new addresses on October 2nd.
This network growth measures the rate of attracting new users to the blockchain protocol by tracking the number of new wallet addresses created daily. Typically, the number of new users is equivalent to the new demand for the original token.
As predicted, this increase has pushed the price of RNDR to a stable 25% gain from September 5th to October 5th. This demonstrates the growing interest and demand for the Render project, especially in the context of the prominent SocialFi trend in the cryptocurrency world.