Render Network Completes RENDER Crypto AI Token Migration and Upgrade
Recently, the Render Network finalized its migration and upgrade process for the RENDER crypto AI token. Following the completion of this highly anticipated rebranding, the token experienced a significant price surge of over 15% in the last day. This development has sparked optimism among investors and market observers, with expectations that the rebranded token could potentially reach $10 in the near future.
Transition from RNDR to RENDER
Last year, the Render Network Foundation made a strategic decision to switch from Ethereum (ETH) to Solana (SOL). This transition followed a successful community vote that approved two important upgrades for the Network. The decision to move to Solana was driven by the need for faster transactions, lower fees, and the desire to achieve more ambitious goals through increased on-chain data and transactions.
- The community also voted to rebrand the token from RNDR to RENDER, with the rebranding process set to be completed by 2024.
Automatic Token Swap and Delisting from Exchanges
The Render Network Foundation announced that several major crypto exchanges, including Binance, Kraken, OKX, Crypto.com, and KuCoin, would automatically convert RNDR tokens to the new RENDER token at a 1:1 ratio. However, ahead of the scheduled migration on July 26, many exchanges began delisting the RNDR token, causing a temporary downturn in its performance.
- Whales in the market also played a role in impacting the token’s price, with reports indicating that some significant holders sold off their RNDR holdings following the news. This resulted in a price drop from above $7 to below $6.5.
- Despite this initial decline, the token has shown signs of recovery, especially with the highly anticipated migration and listing of the new RENDER token.
AI Token Surges 17% After Binance Listing
The rebranded crypto AI token, RENDER, experienced a substantial 17% price surge following its listing on Binance, a prominent cryptocurrency exchange. Binance introduced RENDER on Binance Simple Earn, Buy Crypto, and Binance Convert, with further options like Binance Margin and Futures becoming available.
- Kraken also announced its plans to list RENDER on July 29 and delist RNDR, contributing to the positive sentiment surrounding the token’s rebranding.
- Market experts and analysts have expressed optimism about RENDER’s potential, with projections of the token’s price reaching significant milestones in the near future.
Crypto Market Activity and Price Trends
The recent developments have led to a surge in market activity for the RENDER token, with a notable 140% increase in daily trading volume, amounting to $83.1 million. At the time of writing, RENDER is trading at $6.89, reflecting a 15.6% rise over the past day.
Hot Take: Opportunities Ahead for RENDER Token
As a crypto enthusiast, you should keep a close eye on the RENDER token as it undergoes significant transitions and upgrades in its journey towards broader adoption and potential price appreciation. The recent migration, rebranding, and listings on major exchanges indicate positive momentum for the token, presenting opportunities for investors and traders to capitalize on its growth.
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