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<p class="is-style-lead">Render token (<a href="https://crypto.news/price/render/">RNDR</a>) tops the 24-hour gainers’ chart as the total crypto market cap shows signs of relief after touching its local bottom over the last week.</p>



<p>The global crypto market capitalization has been uncertain over the past month. It dropped to a local low of $1.09 trillion on May 12. According to data <a href="https://coinmarketcap.com/charts/" target="_blank" rel="noopener">provided</a> by CoinMarketCap (CMC), three days later, however, the number reached close to the $1.15 trillion mark, showing a roughly $60 billion recovery.</p>



<p>Moreover, the crypto market capitalization is over $1.13 trillion when writing. As the global market recovery comes, render token sits at the top gainers’ chart. </p>



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<p><a href="https://crypto.news/what-is-render-token-and-why-it-gained-300-in-price/">RNDR</a> is up by 21.5% in the past 24 hours, trading at $2.36 when writing. The asset’s 24-hour volume has reached the $280 million mark, suggesting a 115% hike. Per the data, most render token’s trading activity — over $277.5 million — comes from centralized exchanges (CEXs).</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="1002" height="602" src="https://crypto.news/app/uploads/2023/05/RNDR-price-May-18.png" alt="Render token becomes the top gainer amid very bullish sentiment - 1" class="wp-image-14157883"><figcaption class="wp-element-caption">RNDR price &#8211; May 18 | Source: Trading View</figcaption></figure>



<p>As RNDR’s price rises, on-chain metrics <a href="https://www.investorsobserver.com/news/crypto-update/render-token-rndr-has-a-very-bullish-sentiment-score-is-rising-and-outperforming-the-crypto-market-wednesday-whats-next" target="_blank" rel="noopener">provided</a> by InvestorsObserver suggest a “very bullish” sentiment — measured on a five-day average — with a “medium risk rank.” Data shows that long-term holders might try to buy the dip as the global market sentiment could show a possibility of an early bull run.</p>



<p>According to InvestorsObserver, the render token’s price has broken the resistance line of $2.04 with the strong support of around $1.83.&nbsp;</p>



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Render token becomes the top gainer amid very bullish sentiment

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