After a huge surge that ended up on an all-time high in March this year, RENDER eyes for another ATH, and has witnessed around a 25% increase in the past 7 days. With trading volume reaching 1 billion dollars, the coin showed an 8.32% increase in the last 24 hours.
The on-chain data suggests that significant whale activity happened in RENDER, indicating accumulation from the institutional investors. According to analysts, the coin will reach $10 soon if it breaks its resistance of around 8 dollars.
This article will check the reasons behind this surge and provide a historical chart analysis of the coin, to figure out its future movements. Also, we will get into the market sentiment and media exposure details of the coin. Let’s get started.
What is Render Network?
As the name indicates, Render Network is a GPU broker that connects users with the rendering power to those who need it. When it was launched to the public in 2020, the idea of monetizing GPU power attracted many users. However, it witnessed significant growth only after four years when it got support from various established firms, including the collaboration with Cinema 4D Wizard.
With the help of blockchain technology, Render aids the peer-to-peer transfer of GPU power where node operators can receive its native coin RNDR as a reward. It helps developers and architects create cost-effective quality 3D visualizations and web3 metaverse designs.
The platform’s advisory board includes prominent personalities such as Ari Emmanuel (Co-Founder and Co-CEO, WME), JJ Abrams (Chairman and CEO, Bad Robot Productions), Mike Winkelmann (Beeple), and Brendan Eich (Founder and CEO, Brave Software and BAT),
Render’s RNDR Token Details
The coin was generated long before the launch of the network to the public. The public token sale was held in October 2017 and the private sale happened in 2018. It was first deployed in the Ethereum Network and recently upgraded to the Solana Chain.
The coin is mainly used as a transactional coin where the users can purchase GPU power with it by rewarding it to the power suppliers. The cost of GPU is measured by OctaneBench (OBH), a tool developed by Render’s parent company OTOY.
RNDR coin uses a Burn and Mint Equilibrium (BME) model that enables the network to create a supply and demand balance, aiding decentralization. Here are some more details:
| Token Ticker | $RNDR |
| Total Supply | 644.17 Million RNDR |
| Circulating Supply | 517.69 Million RNDR |
| Market Cap | 4.12 Billion Dollars |
| No. of Hodlers | 82,872 in ERC-20 and 65,984 in SOLANA |
| Ethereum Contract Address | 0x6de037ef9ad2725eb40118bb1702ebb27e4aeb24 |
| Solana Contract Address | rndrizKT3MK1iimdxRdWabcF7Zg7AR5T4nud4EkHBof |
Render’s Historical Chart Analysis
There wasn’t much activity in the initial four years of Render Network’s development, however, it got mainstream recognition in the 2021 bull run where it achieved the milestone of a $1 billion market cap.
The coin went into a dip after the 2021 bull run and started rebounding in late 2023. It achieved an all-time high 8 months ago, on March 17, 2024, with a market cap of 5 billion dollars.
At present RNDR is around 41.23% down from its previous ATH. To create new milestones, it has a long way to go. Previous data around the bull runs shows that an increased amount of whale activity, probably the accumulation period, indicates an upcoming pump. The current on-chain analysis also indicates a similar recurring activity.
Is it a Good Time to Invest in Render Network?
As of today, RNDR is trading at around $8.00 per coin with an increase of around 7% from the previous day. If you are interested in the purchase, better wait and look for further dips. However, do your own research instead of trusting us.
You can get a clear understanding of the current market sentiment by engaging with Render’s official social media handles and communities. Make sure to take necessary precautions as it is a highly volatile market that regularly witnesses high fluctuations in the price.
Where to Purchase Render Coins?
The RENDER/USDT pair is available in popular exchanges like Binance, Coinbase, OKX, Upbit, Bitget, Gate.io, HTX, MEXC, and BitMart. Binance, where the most number of Render tokens are concentrated, also has RENDER/TRY, RENDER/BTC, and RENDER/FDUSD pairs.
It is also available on decentralized platforms such as Uniswap, Raydium, and Orca. Render can be swapped through Ethereum, Solana, and Polygon chains within these exchanges.