In the present day, the Render Community finalized its RENDER crypto AI token migration and improve. Following the extremely anticipated rebrand, the AI token noticed a optimistic worth motion, surging over 15% on the final day. Buyers and market watchers expressed optimism in regards to the rebranded token and take into account it might hit $10 quickly.
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From RNDR To RENDER
Final yr, the Render Community Basis modified from Ethereum (ETH), the place it was initially launched, to Solana (SOL). The transfer adopted a group vote that handed two main upgrades for the Community.
In response to the announcement, the Solana change was “proposed for quicker transactions, cheaper charges, and the venture’s wants to realize extra bold objectives with extra on-chain knowledge and transactions.” The group additionally voted to rebrand the token from RNDR to RENDER, which might conclude in 2024.
This month, the inspiration knowledgeable customers that many crypto exchanges, together with Binance, Kraken, OKX, Crypto.com, and KuCoin, would routinely swap the RNDR tokens for the rebranded token on a 1:1 ratio.
On Monday, the RNDR delisting from crypto exchanges started forward of the scheduled migration on July 26. Exchanges halted most operations with the token, negatively impacting its efficiency over the week.
Furthermore, Whales seemingly contributed to the influence of the token’s worth. On-line reviews revealed that some main holders offered their RNDR following the information, dragging the value from above the $7 assist degree to beneath the $6.5 worth vary.
The token continued to plunge within the following days, dropping beneath the $6 mark, a 17% drop in 4 days. Nonetheless, the extremely anticipated migration and itemizing of the brand new RENDER token appears to have kickstarted a worth restoration.
AI Token Skyrockets 17% Following Binance Itemizing
The newly rebranded crypto AI token surged over 17% at this time after being listed by crypto alternate Binance. On Friday, the alternate introduced that RENDER had been added to Binance Easy Earn, Purchase Crypto, and Binance Convert.
Moreover, it revealed that the Binance Margin and Futures choices can be accessible at this time for the AI token. In the meantime, the Auto-Make investments choice will probably be added on Monday, July 29. On that date, Kraken, the crypto alternate, may even checklist the RENDER and delist the RNDR.
Buyers and market watchers expressed their optimism over the rebrand and Binance itemizing. An X person claimed that, because the venture begins this new period, “the RENDER token with this contemporary chart of round $6.5 lows has potential to achieve unimaginable heights.”
Crypto analyst Coinboss considers that the token might “do a flipperino” if it has a clear get away above the $7 resistance degree. A profitable retest of the goal might probably lead the token to reclaim the $11 mark, additional fueling a surge above RNDR’s all-time excessive (ATH) of $13.53.
One other pseudonym crypto analyst believes RENDER might attain $10 quickly, stating, “Thanks for the fud. See you above $10.” Some customers additionally take into account that buyers will remorse not getting the “best shopping for alternative.”
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Within the final 24 hours, the crypto AI token has seen a exceptional 140% surge in market exercise, with $83.1 million each day buying and selling quantity. As of this writing, RENDER is buying and selling at $6.89, a 15.6% rise up to now day.
Featured Picture from Unsplash.com, Chart from TradingView.com