Weekly Market Review: TON, RNDR, AKT, RUNE, AIOZ
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This week has been quite a volatile one for crypto as evidenced by its price movements in today’s session. Most of the pumps this week, however, can be attributed to political factors with Trump’s signal of crypto adoption catalyisng an active market this week.
Toncoin Price Review
Toncoin (TON) has been this weeks top gainers as seen from its price movements over the period. As of press time, Toncoin, trading at $6.97, had seen a 21.6% pump from its previous seven-day price, as its market cap stood at $24.3B during the same period.
Toncoin’s pump this week can be attributed to a recent patnership this week that might have seen renewned optimism on the altcoin. On May 11, Pantera capital announced that it had patnered with Toncoin.
Gm
— TON
Lately we had a lot of new partnerships with many notable builders in the Web3.
Are you paying attention or NOT?(@ton_blockchain) May 11, 2024
Render Price Review
Render (RNDR) has been this weeks top gainers as seen from its price movements over the period. As of press time, Render, trading at $6.97, had seen a 21.6% pump from its previous seven-day price, as its market cap stood at $24.3B during the same period.
Render’s (RNDR) price pump can be attributed to a recent development on the network that caused community activity to increase, potentially sparking the price spike. On May 9, the Render Network announced the integration of Blender Cycles which is now open for the final community vote.
Akash Network Price Review
Akash Network (AKT) is the other gainer this week as seen from its prixce movements this week. As of press time, Render Network, trading at $5.65, had seen a 18.5% pump from its previous seven-day price, as its market cap stood at $1.3B during the same period.
Akash Network’s pump over the week can be attributed to a major developmentr on the network that happened a few days back. The network announced May 2nd, that it had shifted to Mainnet 11, an event that has since seen increased enthusisasm on the token.
THORChain Price Review
THORChain (RUNE) is also another top gainer this week as eveidenced by its impressive price movements over the seven days. As of press time, THORChain, trading at $6.11, had seen a 16.3% pump from its previous seven-day price, as its market cap stood at $2B during the same period.
RUNE’s pump over the seven days can be attributed to the introduction of THORNode v132 earlier this week. The new development is expceted to bring better execution when closing loans. Also, due to the development, outbound gas fixes will make L1 tx fees cheaper.
AIOZ Network Price Review
AIOZ Network is also another gainer this week as evidenced by its price movements in today’s session. As of press time, AIOZ Network, trading at $0.7961, had seen a 15.18% pump from its previous seven-day price, as its market cap stood at $4.9B during the same period.
AIOZ Network’s price pump this week can be attributed to can be attributed to the recent integration of Eternal AI with AIOZ W3S for the decentralized storage of their AI models, powered by 120K+ AIOZ DePIN nodes.
— AIOZ Network (@AIOZNetwork) May 10, 2024
Eternal AI is now integrated with AIOZ #W3S for the decentralized storage of their #AI models, powered by 120K+ AIOZ #DePIN nodes!@CryptoEternalAI is the first #Bitcoin L2 designed for decentralized AI, enabling anyone to create and power decentralized AI.
The… pic.twitter.com/pzOMSvIg1n
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