Today has been a relatively dismal day for investors in Render Token (CCC:RNDR-USD). This top-100 crypto provides rendering services, as its name implies. These services allows digital video files to be formatted to meet bandwidth requirements for streaming. Accordingly, it’s understandable why there’s increasing attention around Render Token price predictions of late.
Currently, Render is down nearly 18% over the past 24 hours. Along with other smaller-capitalization cryptocurrencies, investors appear to be moving away from risky assets. This could come alongside big earnings disappointments in the last few days.
Surprisingly, Render Token’s performance comes on the heels of a key listing announcement from Coinbase (NASDAQ:COIN). Typically, the “Coinbase effect” provides tokens such as Render with a near-term bullish catalyst. Today, investors appear to want nothing to do with RNDR.
But could things be turning around soon? Let’s dive into some price predictions for this intriguing cryptocurrency.
Render Token Price Predictions
For context, RNDR currently trades at $3.25 per token.
- WalletInvestor places a 1-year and 5-year price target of $7.43 and $25.10, respectively, on RNDR.
- Similarly, Gov. Capital’s 1-year and 5-year price targets for RNDR are $11.80 and $90.25.
- CoinArbitrageBot provides a 2023, 2024 and 2025 price target of $6.90, $11.17 and $18.07, respectively, for Render.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
