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Coinbase discontinues support for RENDER, causing its value to decrease by 8% due to unfounded speculation.

Old RNDR token's price plummets by 8% after Coinbase decides to remove it, while the Solana-supported RENDER token continues to be embraced.

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Drop in RENDER's price by 8% traced back to fear, uncertainty, and doubt (FUD) stirred up after...
Drop in RENDER's price by 8% traced back to fear, uncertainty, and doubt (FUD) stirred up after Coinbase decided to withdraw the old Ethereum-based RNDR token from their platform. It's worth noting that the newer Solana-backed RENDER alternative continues to receive support.

Coinbase discontinues support for RENDER, causing its value to decrease by 8% due to unfounded speculation.

Render Token's Value Decreases by 8% Amidst FUD Following Coinbase's Announcement

The price of Render, a token associated with the Render Network, dipped by 8% over the past 24 hours, now trading at $4.50. The declining trend is suspected to be the result of misconceptions arising from Coinbase's recent announcement about the delisting of the Ethereum-based RNDR token.

Despite the delisting, it is crucial to note that the newer Solana-based RENDER token remains fully supported. Coinbase has stated that it will cease trading for RNDR, alongside Helium Mobile (MOBILE), Ribbon Finance (RBN), and Synapse (SYN) on June 26, due to the availability of updated versions.

The confusion stemmed from the fact that the Ethereum-based RNDR, initially launched on the Ethereum blockchain, is the one being delisted. Render Network has advised users to migrate to the Solana-based RENDER token, providing instructions on how to do so. However, the misconception led numerous investors to sell their RENDER tokens.

Meanwhile, the CETUS token surged by 20% as its protocol upgrade vote approached a conclusion. The migration from Ethereum (RNDR) to Solana (RENDER) for Render Network began in November 2023 following community votes. Although most major exchanges have auto-upgraded user holdings, Coinbase has been slower to follow, causing the recent confusion.

Amidst the sell pressure, many investors saw the FUD as an opportunity to buy at a discount. One user succinctly summed up the sentiment, stating, “So funny how many retards on Crypto Twitter can't grasp what the Coinbase announcement means (ERC-20). RNDR has been migrated to RENDER (Sol) and every exchange except Coinbase migrated ETH to Solana. Buy the FUD. Idiots, I swear.”

The expected performance of the Solana-based RENDER token from 2025 to 2030 is subject to varying predictions based on market conditions, adoption, and ecosystem developments. Here is a summary of expectations for the indicated period:

  • Price Range & Scenarios
  • Optimistic Scenario: If adoption, partnerships, and institutional interest continue to grow, RENDER could potentially reach highs between $11.20 and $12.21 in 2025.
  • Bearish Scenario: In case of setbacks, increased competition, or a weak crypto market, prices could dip to as low as $3.74–$4.22.
  • Average Price: Most forecasts place the average price for 2025 between $5.40 (by year-end) and $7.47.
  • Short-Term Volatility
  • For mid-2025, predictions suggest price targets such as $4.66 by late June (about 15% increase over current price).
  • By late 2025, some forecasts expect gradual growth, with December price targets around $5.98.

The success of RENDER is subject to factors such as adoption and partnerships, institutional funding, market competition, and sentiment. As of now, the current market sentiment is mixed, displaying both bearish signals and positive greed indices.

*Note: If you specifically mean a Solana-based variant of RENDER, please clarify as RNDR is not natively on Solana at this time, and most available data refers to the Ethereum-based RNDR. Always verify the token’s native blockchain and contract address for future accuracy.

Sources:1. CoinMarketCap2. WalletInvestor3. DigitalCoinPrice4. LongForecast

  1. The Render Network's native Solana-based token, RENDER, is still fully supported on Coinbase despite the delisting of the Ethereum-based RNDR token.
  2. The sell pressure on the Solana-based RENDER token might be due to the confusion surrounding Coinbase's announcement about the delisting of RNDR.
  3. A user on Crypto Twitter suggested taking advantage of the FUD (Fear, Uncertainty, and Doubt) generated by the announcement and buying RENDER tokens at a discount.
  4. The expected growth of the Solana-based RENDER token from 2025 to 2030 depends on factors like adoption, partnerships, market conditions, and ecosystem developments, with potential highs between $11.20 and $12.21 in 2025 under an optimistic scenario.

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