RENDER Crypto AI Token Migration and Upgrade Completed, Surges Over 15% on Binance Listing
- 王林Original
- 2024-07-27 09:15:40548browse
Today, the Render Network finalized its RENDER crypto AI token migration and upgrade. Following the highly anticipated rebrand, the AI token saw a
The Render Network Foundation has completed the final step in its highly anticipated rebrand and AI token migration. Following the move from Ethereum (ETH) to Solana (SOL), the token has seen a positive price action, surging over 15% on the last day.
After changing from ETH, where it was initially launched, to SOL last year, the Network announced another round of community voting for two major upgrades.
The announcement stated that the Solana switch was “proposed for faster transactions, cheaper fees, and the project’s needs to achieve more ambitious goals with more on-chain data and transactions.”
The community also voted to rebrand the token from RNDR to RENDER, which would conclude in 2024.
This month, the foundation announced that several crypto exchanges, including Binance, Kraken, OKX, Crypto.com, and KuCoin, would automatically swap the RNDR tokens for the rebranded token at a 1:1 ratio.
On Monday, ahead of the scheduled migration on July 26, RNDR began delisting from crypto exchanges.
The exchanges halted most operations with the token, negatively impacting its performance over the week.
Whales also seemed to contribute to the impact on the token’s price. Reports showed that some major holders sold their RNDR following the news, dragging the price from above the $7 support level to below the $6.5 price range.
The token continued to drop in the following days, falling below the $6 mark, a 17% drop in four days. However, the highly anticipated migration and listing of the new RENDER token appears to have initiated a price recovery.
The newly rebranded crypto AI token surged over 17% today after being listed by crypto exchange Binance.
On Friday, the exchange announced that RENDER had been added to Binance Simple Earn, Buy Crypto, and Binance Convert.
Moreover, it revealed that the Binance Margin and Futures options would be available today for the AI token. Meanwhile, the Auto-Invest option will be added on Monday, July 29. On that date, Kraken, the crypto exchange, will also list the RENDER and delist the RNDR.
Investors and market watchers expressed optimism about the rebrand and Binance listing. An X user stated that, as the project begins this new era, “the RENDER token with this fresh chart of around $6.5 lows has potential to reach unimaginable heights.”
Crypto analyst Coinboss stated that the token could “do a flipperino” if it has a clean break out above the $7 resistance level. A successful retest of the target could potentially lead the token to reclaim the $11 mark, further fueling a surge above RNDR’s all-time high (ATH) of $13.53.
Another pseudonym crypto analyst stated that RENDER could reach $10 soon, stating, “Thanks for the fud. See you above $10.” Some users also stated that investors will regret not getting the “greatest buying opportunity.”
In the last 24 hours, the crypto AI token has seen a remarkable 140% surge in market activity, with $83.1 million daily trading volume. At the time of writing, RENDER is trading at $6.89, a 15.6% rise in the past day.
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