Why is the Render Token (RNDR) price surging?

Render Token (RNDR) price surged to a key resistance level after the developers made a major milestone. The token surged to a high of $2.20, which was the highest point this month. In all, the token has been one of the best-performing cryptocurrencies after rising by more than 140% from the lowest level in March.

Render Network news

The main reason why the RNDR price surged is that the community completed the RNP-002 and RNP-003 votes. These were the most important votes in the community because they will change the architecture of the network.

Precisely, RNP-002 means that Render Foundation can now move ahead with implementing the BME model on the Solana ecosystem. Solana is a leading blockchain that is known for its fast speeds and low transaction costs. 

Unlike Ethereum, Solana can handle thousands of transactions per second while the average cost is less than $0.01. Therefore, by using Solana, Render hopes that its users will work at a faster pace and save a lot of money in transaction costs.

Meanwhile, the RNP-003 vote was known as the Resource Acquisition and Allocation for Core Team and Grants. The vote simply makes it possible for the Render Foundation to acquire and allocate resources in a bid to grow the ecosystem. The next stage is that these votes will be updated to Approved and on the Roadmap. 


Render Token price prediction

The daily chart shows that the RNDR price has been in a strong bullish trend in the past few months. It has jumped from a low of $0.8932 in March to a high of $2.20. The token has jumped above all moving averages.

The current price means that the token has formed a double-top pattern. In price action analysis, this pattern is usually a bearish sign. Therefore, with the Solana integration news confirmed, there is a likelihood that the token will pull back.

This is known as buying the rumours and selling the news. It happens when investors buy an asset ahead of a major event and then sell when it happens. If this happens, the next key level to watch will be the neckline of the double-top at $1.622.

How to buy Render Network token


All Dutch and English crypto news!

FTX debtors object Genesis’ ‘critical’ claim estimate of ‘$0.00’

Just a month after bankrupt cryptocurrency exchange FTX was seeking $4 billion from the also bankrupt crypto lender Genesis, it is now contesting a claim...

Elliptic integrates ChatGPT to bolster crypto risk detection

Crypto risk management firm Elliptic is integrating artificial intelligence chatbot, ChatGPT, to ramp up accuracy and scalability in detecting crypto threats, amid other crypto firms...

Warren’s alleged work with short-seller shows anti-crypto army heating up

What do progressive Democrats, Republican national security hawks and Wall Street traders have in common? They are all apparently enlisting in United States Senator Elizabeth...

Musk’s alleged price manipulation, the Satoshi AI chatbot and more: Hodler’s Digest, May 28 – June 3

Top Stories This Week Dogecoin investors accuse Elon Musk of insider trading in amended class-action lawsuit A group of Dogecoin investors has requested leave to amend a...

Beste exchanges

Koop je crypto bij Bitvavo