Token

Render

<div class="cryptonews">
 <p class="is-style-lead">Kenetic Capital, the most significant institutional holding of Render project tokens, <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a>red almost 1 million RNDR.</p>
 <p>According to Etherscan, Kenetic Capital <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a>red 999,990 RNDR to the cryptocurrency exchange Binance on Feb. 4. The <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a> is valued at almost $4.5 million at the current exchange rate.</p>
 <p>Since Dec. 24, 2023, Kenetic Capital has <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a>red 2.5 million RNDR, or $11.25 million at the time of writing, to Binance in 42 days. Kenetic Capital currently holds 4.1 million RNDR.</p>
 <p>After the <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a> of RNDR to Binance, the token rate reacted with a drop of 5.3% in 24 hours, becoming the top loser of the day on CoinMarketCap. The price of RNDR dropped from $4.77 to $4.41 in a few hours and recovered to the level of $4.50 at the time of writing.</p>
 <figure class="wp-block-image size-large"><picture decoding="async" class="wp-image-14245238">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2024/02/05/93332538b20abd4e60c63d9fb0d0d030.webp.webp">
   <img decoding="async" width="1024" height="496" src="https://cdn.thebittimes.com/images/2024/02/05/93332538b20abd4e60c63d9fb0d0d030.webp" alt="Render sheds 5.3% in 24 hour trading after 1m RNDR transfer to Binance - 1"> 
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  <figcaption class="wp-element-caption">
   Source: CoinMarketCap
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 <p>Despite the 5.3% drop, RNDR <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> volumes increased by 33% over the past 24 hours, reaching $140 million.</p>
 <p>Render Token functions as a network that connects users who need to render their work with idle GPU resources to speed up the rendering process and make it more efficient. It uses a decentralized system to track and manage rendering jobs at scale.</p>
 <p>Last week, cryptocurrency exchange Coinbase added Render to its listing roadmap. Binance, Crypto.com, and other large centralized exchanges also previously announced the listing of RNDR.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/render-sheds-5-3-in-24-hour-trading-after-1m-rndr-transfer-to-binance-tbt78862.html">https://thebittimes.com/render-sheds-5-3-in-24-hour-trading-after-1m-rndr-transfer-to-binance-tbt78862.html</a></p>

Render sheds 5.3% in 24 hour trading after 1m RNDR transfer to Binance

TheBitTimes

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