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This cryptocurrency is most associated with NVDA: Here’s how it’s doing after the tech giant’s successful quarter — TradingView News
Top AI-powered cryptocurrency tokens tumbled after the AI chip giant Nvidia Corp. 
What happened: rendering the token with the “most significant” ties. with the tech giant, was trading 3.79% lower at the time of writing. data from Benzinga Pro.
The token posted gains ahead of the earnings announcement, hitting a two-month high of $11.81. However, profit-hungry traders locked in gains soon after
RNDR trading volume has nearly doubled in the past 24 hours, outpacing meme power Shiba Inu
According to on-chain analytics firm Santiment, whale engagement with the AI token was on the rise. An investor with significant holdings in RNDR previously sent nearly 4.9 million tokens to an unknown wallet, potentially selling them.
Santiment warned that holders of the token should prepare for more volatility in the future.
Because matter: An X user with this nickname CryptoDNA highlighted the factors behind RNDR’s decline following Nvidia’s successful first-quarter earnings.
“Leverage is why we went down. Imagine how many investors got into 100x long positions after the very bullish earnings call. Do you think Market Makers would make it that easy?” commented the analyst.
Why $RNDR dive after the rise #NVIDIA earnings? These are the DMs I received..
And here’s my answer: LEVERAGE, leverage is why we went down. Imagine how many investors entered long 100x positions after the very bullish earnings call. Do you think Market Makers would…
That said, the analyst assured that “there is nothing to worry about” as it is part of the ebbs and flows of the market.
“We are going much higher and RENDER will lead the entire AI industry. I have never been more optimistic in my life and my entire portfolio is built around RNDR.”
The analyst’s statement is well founded since, according to Coinglass data, in the last few hours the number of traders eager for RNDR has started to increase. This suggested confidence in the token’s upside potential.
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