RENDER price dropped 8% as FUD spread following Coinbase’s announcement to delist the old Ethereum-based RNDR token—even though the newer Solana-based RENDER remains fully supported.
Render (RENDER‘s price has fallen 8% within the last 24h, and is now trading at $4.50. However, the volume of trading has risen by over 150%. It appears that confusion around the May 27, 2017 election caused this drop. Coinbase Announcement about the delisting RNDR token. The delisting only affects Render’s older Ethereum version (RNDR), and not its newer Solana based version.
Coinbase has announced that it will no longer trade RNDR and Helium Mobile.MOBILERibbon Finance, Synapse and Synapse Finance.SYNOn June 26,. It was stated that older tokens did not meet the listing requirements due to updated versions being available.
Render Network sent out a message to remind users of the need to upgrade their tokens from the Solana token. outlining Instructions on how to proceed. Many investors sold their tokens because they misunderstood what would be removed.
As per the official sourceThe Render Network has begun migrating to Ethereum After community vote (RNP002, RNP006), (RNDR to Solana) (RENDER) will be implemented in November 2023. Coinbase lags behind the other major exchanges in auto-upgrading user holdings.
Many were thankful for the chance to purchase the dip as the pressure to sell increased due to FUD. A user expressed the feeling perfectly. stating:
“So funny how many retards on X can’t comprehend 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.”
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Source: crypto.news
