• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Investing

Render (RNDR) hits crucial user milestone ahead of much-anticipated token swap

by July 18, 2024
written by July 18, 2024

AI crypto project Render (RNDR) recently attained a remarkable milestone in user activity.

Renowned analyst Ali Charts revealed that the platform saw the highest number of 24-hour active addresses since Render’s launch.

#Render recently saw the highest surge in daily active addresses since launch! This spike could be linked to the upcoming swap of all $RNDR tokens to #RENDER! pic.twitter.com/KOG0K08J06

— Ali (@ali_charts) July 16, 2024

He added that the upcoming migration of all RNDR coins to RENDER is behind the surged activity, indicating amplified engagement and interest among Render investors.

Render’s token migration

The platform plans to move all RNDR assets from the Ethereum network to Solana, rebranding the coin to RENDER.

Render launched as an ETH project in 2017, but a community vote in 2023 suggested a migration to the Solana blockchain.

The new Solana Program Library (SPL) coin RENDER went live in November 2023.

Market experts believe RENDER will tap Solana’s growth and predicted success to outshine the altcoin market.

The $RNDR to $RENDER migration unfortunately confused a few people.

Make no mistake though. The migration to Solana is BULLISH‼️ 🐂🐂🐂

This cycle is the Solana cycle. $SOL and Solana coins will outperform, and $RENDER is the top dApp on Solana. pic.twitter.com/zdmThwp24Z

— Rendoshi Research ⭕️ (@Rendoshi1) July 17, 2024

Render is the top decentralized application (dApp) on the Solana blockchain.

Solana attracted Render enthusiasts due to cheaper fees and transaction speed.

The SOL network has gained popularity recently, even threatening to dethrone Ethereum.

Meanwhile, increased user activity triggered bullish price movements for RNDR over the past day, and technical indicators suggest continued upswings.

RNDR signals recovery  

The altcoin maintained a bullish stance over the past day, rising from $6.4521 to a 24-hour high of $7.0418 before retracing to trade above $6.65 at press time.

RNDR 1D Chart on Coinmarketcap

Meanwhile, the broad market flashed revival signs as Bitcoin climbed past the $65K mark.

The altcoin market reflects renewed optimism with notable price surges.

Moreover, the altcoin market has printed a bottom formation, highlighting an impending robust rally.

Crypto analyst Negentropic predicts an acceleration phase that will see the market doubling or tripling in the coming sessions.

Altcoins are ready to fly! 🚀

We have had a period of CONSOLODATION after the Break-Up of the Rounding Bottom formation.

The next phase is ACCELERATION!

This is where the Altcoin Season sends #Crypto flying. The market will double and triple a matter of few weeks to months.… pic.twitter.com/kdKW9AiRIV

— 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic_) January 16, 2024

That bodes well with Render’s current outlook as buyers triggered a massive reversal from the support at $5.6, which overlaps with a crucial retracement region.

The support level, coinciding with the 23.6% FIB retracement, remains vital as it prevented further declines during early July bearishness.

That makes it a lucrative region for the next upsurge.

Further, RNDR’s entire correction happened within two declining trendlines, forming a flag setup.

That positions the altcoin for an impressive long-term surge. Sustained buyer activity ahead of the coming token swap supports prolonged rallies for Render.

Bulls can trigger a 30% surge before hitting the flag pattern’s crucial resistance level. Such a price uptick will see RNDR regaining the 20-, 50-, 100-, and 200-daily Exponential Moving Averages.

That will trigger robust bullishness and sustained recoveries. Nonetheless, a breakout from the flag pattern remains essential for stable upsurges.

The post Render (RNDR) hits crucial user milestone ahead of much-anticipated token swap appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
Cantor Fitzgerald sets $20 price target for Core Scientific stock: Should you buy?
next post
Is it the right time to invest in SolarEdge stock?

related articles

Asian markets close: Nikkei, Kospi down; Sensex closes...

May 19, 2025

Qualcomm unveils AI chips for data centres with...

May 19, 2025

Best crypto to buy now: Bitcoin Pepe leads...

May 19, 2025

JPMorgan cuts Netflix rating, citing balanced risk-reward post-rally;...

May 19, 2025

Bitcoin ETF open interest dips 5% to $29.47B...

May 19, 2025

US stocks slip in the red on Monday:...

May 19, 2025

Why this brokerage downgraded UnitedHealth’s rating to ‘hold’

May 19, 2025

Should Klarna IPO remain on watch list after...

May 19, 2025

Nvidia opens NVLink Fusion ecosystem, expands Taiwan footprint...

May 19, 2025

Cathie Wood says Trump’s tariffs could unlock tech...

May 19, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Russia interfering in 2024 election to help Trump, US intelligence officials say

    July 11, 2024
  • Government workers dismayed by Trump’s return-to-office mandate

    January 27, 2025
  • SCOOP: House Republicans request ban on federally funded ‘transgender animal’ experiments in 2026 budget

    May 24, 2025
  • Long BSX: Boston Scientific Maintains Nine-Month Uptrend: Targeting $80 After Recent Pullback

    July 11, 2024
  • Trump to sign executive order establishing White House faith office

    February 7, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,731)
  • Investing (624)
  • Stock (775)

Latest Posts

  • ‘Failure’s not an option’: Trump budget bill will be ‘big’ help for seniors, top House tax-writer says

    May 17, 2025
  • Israel-Hamas cease-fire, hostage release deal reached

    January 15, 2025
  • New projection signals good news for families, workers in Trump’s ‘big, beautiful bill’

    May 19, 2025

Recent Posts

  • DOGE reps launch meetings with federal staffers in effort to cut government waste: report

    January 10, 2025
  • Fetterman calls out ‘UN’s rank, pervasive antisemitism,’ says he looks forward to confirming Elise Stefanik

    November 18, 2024
  • Markets are counting on the Fed to head off recession with sizable interest rate cuts

    August 8, 2024

Editor’s Pick

  • The price of Bitcoin has been under pressure since Wednesday

    July 19, 2024
  • Former Biden official ‘pleased’ Trump admin tackling antisemitism

    April 23, 2025
  • HHS employees offered $25k as ‘incentive to voluntarily separate’

    March 10, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock