Crypto Market Slows Down as RNDR Surges over 12% in 24 Hours

Over the past week, RNDR has been one of the best performing projects for another day on the gainer leaderboard, according to CoinMarketCap.

In the last 24 hours, the Supply Token (RNDR) is up another 12.62% with a total trading volume of $280,949,445.

Move to Solana

Over the past week, RNDR, the native token of Render, a decentralized cloud computing platform, has seen an increase of over 62%. This rise has been attributed to the successful completion of votes for RNP-002 and RNP-003 by the Render community.

RNP-002 is a shift proposal towards network building with Rust on top of Solana’s network, which has been submitted to the Render community. RNP-002 enabled the implementation of the BME model within the Solana ecosystem.

This step will enable the protocol to take advantage of Solana’s impressive speed and lower transaction costs.

RNP-003, also known as Resource Acquisition and Allocation for the Core Team and Grants, will enable Render to acquire and allocate resources to grow his ecosystem.

Then it will be Approved for the selected votes, and then Render will update both events as “Approved” in its roadmap in preparation for full activation.

As a result, Render is expected to implement the BME model within the Solana ecosystem, which will enable the protocol to take advantage of Solana’s impressive speed and lower transaction costs.

In order to prepare for the expected future demand and scale of its network, the developers of the Render platform recognized the need to move away from Solidity and Ethereum.

Faster transaction times for continuous earnings

Since Solana can process thousands of transactions per second at an average cost of less than $0.01, Render expects the integration to lead to faster processing times for its users and significantly lower transaction costs.

After this announcement, the price of RNDR broke through various resistance levels, making a clear breakout above its 2023 yearly high, according to TradingView data. Currently, the RNDR is trading at $2.54, which indicates a gain of over 615% for the year.

Currently, Render has managed to hold onto its gains and maintain a positive trend, despite the fluctuations in the Bitcoin price. However, in the event of a market rebound, it is difficult to say where the RNDR price will be left.