Render Network’s RENDER token sees a 15.6% price surge following a rebrand, with investors optimistic about its potential to reach $10.
Points
- RENDER token sees a 15.6% price surge after rebrand.
- Positive investor sentiment and market activity.
- Potential to reach $10 with continued momentum.
The Render Network has successfully completed its RENDER crypto AI token migration and upgrade, leading to a notable 15.6% surge in the token’s price. Following this highly anticipated rebrand, investors and market watchers are optimistic about the potential for RENDER to reach $10 soon.
From RNDR to RENDER
The Render Network Foundation recently transitioned from Ethereum to Solana, following a community vote that passed two major upgrades for the network. The move to Solana was proposed to achieve faster transactions, cheaper fees, and to meet the project’s goals for handling more on-chain data and transactions. The community also voted to rebrand the token from RNDR to RENDER, with the process concluding in 2024.
This month, crypto exchanges including Binance, Kraken, OKX, Crypto.com, and KuCoin, began automatically swapping RNDR tokens for the rebranded RENDER tokens on a 1:1 ratio. The RNDR delisting from exchanges commenced ahead of the scheduled migration on July 26, impacting the token’s performance initially but sparking recovery post-rebrand.
AI Token Skyrockets Following Binance Listing
On July 26, Binance announced the listing of RENDER on its platform, including options for Binance Simple Earn, Buy Crypto, and Binance Convert. The addition of Binance Margin and Futures options for the AI token further boosted market activity. Following the announcement, RENDER experienced a significant 17% surge, with daily trading volume skyrocketing by 140% to $83.1 million.
Optimism for Future Growth
Investors and analysts are optimistic about RENDER’s potential to reach $10, citing the token’s fresh chart and new market activity. Some analysts, like Coinboss, suggest that a clean breakout above the $7 resistance level could lead RENDER to reclaim the $11 mark, pushing it beyond its all-time high of $13.53.
The rebrand and subsequent listings have reignited interest and confidence in the RENDER token, positioning it for further growth as the project continues to expand its capabilities and market presence.