Emerging utility-driven blockchain projects amid Bitcoin price dipping

From last 3-4 weeks, we’ve been watching out the steep slumps of cryptocurrency prices very meticulously, with BTCUSD tumbles 40.33% in this month, ETHUSD slides 46.49%, while BCHUSD shows 59.48% dips. At this juncture, many analysts reckon that crypto-avenues are predominantly impelled by speculative investment from small investors who either select start-ups based on the potential of their technology or simply because they trust that the digital assets with eventually appreciate in value. 

Well, amid this tensed atmosphere around the gamut of cryptocurrencies, it’s going to be a wise choice between blind optimism in cryptocurrencies or hard realism in the budding underlying technology. As you can observe, despite the decreased price of some of the top cryptocurrencies over the recent weeks, many industry veterans reckon that this is the ideal period when real innovation with blockchain-based projects will occur, though some cryptocurrencies are declining. 

Kalin Stoyanchev, the project lead atRNDR, says about why utility projects like RNDR, which is setting entertainment industry standards in blockchain-based graphics rendering, and beating out tech giants for the largest cloud network, are here to stay.

From the creators of leading cloud graphics company, OTOY, whose technology has been used in the creation of world-renowned productions including Westworld and Star Wars: Rogue One, RNDR transforms the power of GPU compute into a decentralized economy of connected 3D assets. Because RNDR is a utility-based project and its market is based on the intrinsic value of GPU, it is a platform that is pushing forward full steam ahead despite the current market fluctuations of other crypto assets.

It’s been anticipated that this move from the SEC to establish something like FinHub for a while. The mass adoption of blockchain by various institutions has only expedited this move.The newly invented blockchain as the technology has attracted investors’ interest in funds in recent months as these innovations continue to move towards the mainstream and generate opportunities for investors, portfolio managers, traders and other market participants.

Currency Strength Index: FxWirePro's hourly BTC spot index is showing -86 (which is bearish), while USD is flashing at 59 (which is bullish), while articulating at (11:35 GMT). For more details on the index, please refer below weblink:

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