RNDR, NFTX and YGG bounce higher as the market rewards projects focused on utility

cointelegraph.com:

Everyone might be a genius during a bull market, but the real stars begin to shine when the waters get choppy. The same can be said for crypto projects and developers and once the pump is over, it's easier for investors to separate the pump and dump projects from those with good fundamentals.

Sometimes a bull market, sometimes a bear market, always a builder’s market.

Now that Bitcoin (BTC) price has found its place back in the $42,000 to $45,000 zone, the mood across the crypto ecosystem has once again flipped bullish and projects that have continued to release new updates are being rewarded with significant jumps in price.

Here’s a look at three projects that have continued to develop and draw investors despite the recent market weakness.

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

Render has continued to fine-tune the capabilities of its network over the past few months of sideways trading in the crypto market in newly emerging sectors including 3D simulations and the real-time rendering for films, games and the Metaverse.

As a result of protocol improvements and a listing on Coinbase, the protocol's native RNDR token increased 137% from $1.80 on Jan. 24 to a daily high of $4.26 on Feb. 2 as Coinbase traders got their first opportunity to purchase the token.

With NFTs and the Metaverse continuing to be two of the hottest trending topics in crypto, the need for computing power to render high-quality digital images presents a necessary use case opportunity for projects like Render Network,

The popularity of NFTs has also led to an explosion in the price for several projects