The crypto market is posting bearish signals after a precipitous drop in the past week.

So far, the decentralized ecosystem has slumped 1.31% in the past day, with its market cap slipping from $1.18 trillion to $1.16 trillion.

This sharp decline has largely impacted the short-term price performance of several altcoins, including the Render token, which has been experiencing a downtrend of 1.7% in the last 24 hours.

However, the asset’s mid-term growth has been promising. The $RNDR token clocked a price surge of 35% in the last two weeks, prompting investors to pay attention to it.

Meanwhile, Render has not been the only crypto asset on the radar of most investors. A new decentralized freelancing platform, DeeLance, is breaking the internet following its massive rise in its presale period.

Could it become the next Web3 coin with massive upside potential? Crypto analysts seem to believe so.

$RNDR Clocks Strong Mid-Term Gains in an Uncertain Crypto Climate

At press time, the $RNDR token is trading at $1.70, indicating a downtrend of 1.7% in the past 24 hours. Its weekly performance has also been bearish, with a sharp 3.42% decline in the last seven days.

However, while most altcoins have seen their price action stay in the red zone, the network’s rendering token has posted bullish stripes.

Render token

The digital asset’s price has risen by 35% in the last 14 days, indicating its enormous potential in connecting music artists and studios to GPU rendering networks.

On its four-week stretch, the RNDR token has risen 41.23%, with its three months performance posting an impressive 100%.

On its technical front, $ RNDR’s 50-day Moving Average (MA) indicator price of $1.39 shows that it is on a bullish streak. This bullish sentiment is reinforced by its longer-term 200-day MA price of $0.9.

$RNDR currently has a Relative Strength Index (RSI) of 54.09, indicating that it is still in the underbought zone.

Nonetheless, this is an ideal opportunity for investors to purchase the crypto asset and rise with the market.

The asset’s Moving Average Convergence and Divergence (MACD) is currently edging toward a buy signal. However, this could easily flip to a sell signal, given the close trajectory of both trendlines.

Meanwhile, a new crypto project geared towards the freelance industry echoes $ RNDR’s use case as a bridge for artists and studios with GPU computing resources.

DeeLance: Bridge for Freelancers and the Teeming Web3

Since the pandemic’s outbreak, the global workforce has pivoted to a more independent and user-controlled work structure.

According to a market report, 38% of the global workforce are freelancers. This trend is fueled by the advantages of greater flexibility, quicker and easier payments, and a more efficient work process.

However, current platforms for connecting freelancers and employers are expensive and rigid, and DeeLance aims to address this issue.

This cutting-edge platform is a decentralized recruiting platform that connects freelancers and employers.

Besides connecting freelancers and employers in a permissionless setting, DeeLance offers even more.

The platform charges only 2%, the lowest in the entire industry. Also, it offers instant payments via crypto and directly stores clients’ funds in a fully-backed escrow system.

In addition, DeeLance also offers digital ownership of work via non-fungible tokens (NFTs).

To prevent infringement, freelancers can directly tokenize their work, and ownership is only transferred once payment is made by the employer, with the DeeLance blockchain recording it.

Furthermore, the DeeLance ecosystem also features a metaverse concept that allows employers to pick top talents in a virtual reality landscape.

Interestingly, the protocol is powered by a network token called $DLANCE.

Based on the Ethereum blockchain, the digital asset has had tremendous success in its presale stage.

The Web3-based token has completed its first presale stage, with over $444,000 raised, demonstrating huge investor interest.

Early-bird investors can purchase the digital asset for $0.029 before it lists on public exchanges in quarter two (Q2) in 2023.


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