RNDR, NFTX and YGG up triple digits as market eye utility projects

Focusing on utility and continuing construction within the strong downtrend appears to have helped Render Token (RNDR), NFTX and Yield Guild Games (YGG) recover from the recent correction.

Anyone can be a genius during a bull market, but the real stars begin to shine when the going gets tough. The same is true for crypto projects and developers, and when the bullish momentum ends, it will be easier for investors to separate pump-and-dump projects from those with good fundamentals.

Now that Bitcoin (BTC) price has rediscovered its place in the $42,000-$45,000 region, sentiment across the crypto ecosystem is bullish again and projects continue to be released. The new update will be rewarded with significant price increases.

Here are three projects that continue to grow and attract investors despite the recent market weakness.

Render network

Render Network is a distributed GPU protocol operating on the Ethereum (ETH) network that helps connect artists and studios to the GPU processing power they need to create digital renderings.

Render has continued to hone its network’s capabilities in recent months as a sideways trader in the cryptocurrency market in emerging areas, including 3D simulation and real-time rendering for movies, games, and metaverse.

Due to the improved protocol and listing on Coinbase, the render network’s native token, RNDR surged 137% from $1.80 on Jan. 24 to an intraday high of $4.26 on Feb. 2, as a trader on Coinbase stock market got their first buying opportunity.

RNDR/USDT 4 hour chart | Source: TradingView

As NFT and Metaverse continue to be two of the hottest topics in the cryptocurrency market, the need for processing power to display high-quality digital images presents a much-needed opportunity for projects like Render Network.

NFTX introduces staking

The popularity of NFT has also led to a price explosion on some projects and the possibility of using NFT as collateral.

NFTX is a community-owned NFT marketplace and ecosystem that has benefited from meeting this need through the development of staking and the adoption of decentralized finance, helping to transform NFTs into a return-producing asset without the typical risks associated with the provision of capital and liquidity.

Since staking went live on the network, NFTX price has surged 124% from $57.66 on Jan. 21 to an intraday high of $129.16 on Feb. 1.

4 hour frame NFTX/USDT price chart | Source: TradingView

Yield Guild Games is focused on building a community

Another project also benefiting from the momentum surrounding NFT, Metaverse and gaming is Yield Guild Games, a group focused on investing in NFT in the virtual world and developing the world’s largest virtual economy serving the Has potential to become as big as possible. optimize its assets to maximize owner value and return on investment.

For the past two months, the YGG ecosystem has been busy building partnerships and building its grant program to help users around the world generate revenue from play-to-earn (P2E) games.

The project also showed its commitment to solving real problems for people by launching a fundraising platform for victims of Typhoon Odette in the Philippines, raising a total of $1.45 million in relief funds as of February 1.

“YieldGuild has raised $1.45 million to help victims of Typhoon Odette, which hit the Philippines on December 16.”

The focus on creating developments that benefit community members, as well as building new partnerships across the ecosystem, has helped YGG’s price surge 89% from $2.17 on Jan. 24 to $4.11 am February 7 to drift.

YGG/USDT 4 hour chart | Source: TradingView

At the time of writing, YGG is trading at $3.67 with a 24-hour trading volume of $52.6 million and a total crypto market cap of $1.7 trillion, with bitcoin dominance at 41.6% .

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