QTUM, SUI, Render (RNDR) cryptocurrencies on the rise: here’s why – Invezz

Since the fake news about BlackRock sport Bitcoin ETF being approved, the crypto space has sprung to life with most of the coins turning green. Three notable cryptocurrencies are currently in the spotlightQTUM, SUI, and Render (RNDR).

Are you looking for fast-news, hot-tips and market analysis?Sign-up for the Invezz newsletter, today.

While these cryptocurrencies belong to different niches, each is experiencing a surge in its value and popularity. In this article, well explore the key factors driving the growth of these digital assets.

Qtum, often pronounced as quantum, is a smart contract blockchain platform and the value transfer protocol that combines the strengths of Bitcoin and Ethereum.

What sets Qtum apart is its unique ability to benefit from updates made to both of these major cryptocurrencies. Recently, the implementation of Taproot in Bitcoin has further boosted Qtums performance.

As the hype around the potential approval of a spot Bitcoin ETF by the US SEC grows, Qtums proximity to Bitcoin is pushing its price higher. QTUM token price has surged by 23% over the past 24 hours and 38.68% in the last seven days.

Additionally, Qtum had a scheduled mandatory update on November 27, 2023, which required users to upgrade to version 24.1 by a specific block height.

This upgrade aims to enhance the platforms performance and security, further solidifying Qtums position in the cryptocurrency market.

SUI, another cryptocurrency on the rise, has been facing scrutiny following reports of a substantial circulation volume discrepancy linked to its launch on Upbit. The Financial Supervisory Service (FSS) in South Korea launched an investigation into this matter.

Despite the ongoing investigation, SUIs price has continued to surge. The token price has surged by 8.03% in the last 24 hours and by 17.75% over the past seven days.

One of the driving factors behind SUIs price surge is its innovative approach. SUI is planning to launch a new mode for compressing mnemonic formats, reducing 12 words to just 8 words without losing entropy.

This novel approach has garnered significant attention and support from the crypto community, contributing to its upward momentum.

Render (RNDR) is making headlines as its community recently passed the RNP-005: Beam Compute Client proposal.

This development marks a significant step in RNDRs growth and utility. The RNDR token price has surged by 24.30% over the past seven days and by 10.29% in the last 24 hours.

The integration of the Beam Compute Client into the Render Network is set to expand its utility significantly. This technology allows for the accelerated development and deployment of artificial intelligence (AI) operations with GPUs, all without the hassle of managing infrastructure.

This development not only enhances RNDRs capabilities but also opens new possibilities for machine learning workloads, driving demand for the cryptocurrency.

The rise of QTUM, SUI, and RNDR reflects their unique strengths and the evolving landscape of the cryptocurrency market.

Qtums ability to harness Bitcoin and Ethereum updates, SUIs innovation in mnemonic compression, and RNDRs community-driven growth demonstrate that the cryptocurrency space is not only dynamic but also filled with potential for those who explore it.

Excerpt from:
QTUM, SUI, Render (RNDR) cryptocurrencies on the rise: here's why - Invezz

Related Posts

Comments are closed.