TON, RNDR Surge More Than 13% as Bitcoin Rebounds to $63K

TON and RNDR increased by over 13% in 24 hours, causing crypto markets to rise.

RNDR applauds Apple’s brief mention of Octane, its Render-enabled 3D design software.

Alternative cryptocurrencies with positive news flows are shining as Bitcoin’s recovery re-encourages risk-taking in the crypto market.

Over the past 24 hours, overlay project The Open Network’s native cryptocurrency TON is up 17.5%, and decentralized GPU-based rendering solution Render Network’s RNDR token is up 13.2%, according to data source Coingecko. Both are among the best performing cryptocurrencies of the last 24 hours. Market leader Bitcoin rose 6% to $63,000.

TON’s rally appears to be driven by: reports The highly anticipated launch of NOT, the native currency of the viral Telegram-based game Notcoin, will take place on May 16, he said. The token will be minted on the Open Network.

Leading cryptocurrency exchanges such as Binance, Bybit, OKX and Bitfinex I have already decided to support NOT.

On Thursday, Binance announced a launch pool for NOT, which will offer 3 billion coins to users who stake BNB or FDUSD stablecoins. OKX has launched a “jumpstart” campaign that rewards TON stakers with NOT tokens. The program will start at 06:00 UTC on May 16 and last for three days.

Meanwhile, RNDR continued to support Nasdaq-listed tech giant Apple’s briefing to mention Octane Tuesday, 3D design software with rendering support. Since then, the token has gained over 20%, pushing its monthly gain to over 56%.

“Professional rendering applications like Octane will skyrocket,” said Tim Millet, Apple’s vice president of platform architecture, in his four-minute keynote on Tuesday, noting the software’s performance on the new iPad.

Bitcoin breaks trend line

Bitcoin has also broken through its downtrend line, with a stock market aiming for new records.

Data released on Thursday showed that initial applications for unemployment benefits in the US rose to their highest level since August last week, strengthening the possibility of a Fed interest rate cut this year.

According to FxPro senior analyst Alex Kuptsikevich, $64,000 is the level to be crossed for bulls.

“Bitcoin has made two attempts to break the $63.0K level since the start of the day on Friday, which does not appear to be a meaningful turning point. More interest is focused on the $64.0K and $60.0K area on the upside.” . negative,” Kuptsikevich said in an email.

Still, some analysts have speculated that cryptocurrency exchange Gemini’s Earn program and long-dormant crypto marketplace Mt. He worries that the oversupply resulting from the distribution of the coin to Gox’s creditors could limit Bitcoin’s rise in the near term.

Daily price chart of BTC. (TradingView/CoinDesk)