Solana-Based Decentralized Rendering Altcoin Reacts Mildly to Coinbase Listing
A decentralized rendering altcoin based on Solana (SOL) is trading without much movement despite the recent announcement that Coinbase, the leading US cryptocurrency exchange platform, will be adding support for it. Coinbase has revealed that it will list Render (RENDER), a decentralized altcoin that enables users to share their unused GPU power for rendering graphics and visual effects in other projects, allowing them to earn rewards in return.
Render’s response to the listing has been lukewarm, with its current trading price at $4.91, showing a 2.1% decrease over the past 24 hours. Previously an Ethereum-based (ETH) token, Render made the switch to Solana in late 2023. According to Jules Urbach, the project’s founder, this move significantly improved the protocol’s utility by enabling real-time streaming and dynamic NFTs.
Coinbase will support both the Solana and Ethereum versions of Render, with slightly different names and tickers across blockchains. On Ethereum, it will retain the ticker RNDR, while on Solana, it will be called RENDER with the ticker RENDER and listed as Render (Solana) on Coinbase’s trading platform.
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