Render (RNDR) Price Slips Following 27% Rally, Here's Why

Business

Render Price Soars As Binance Announces Trading Service – Crypto News

Published

12 months ago

July 26, 2024

Dripp

Crypto exchange Binance has announced more trading services for Render (RENDER) following a token swap and rebranding. The token has been added to a slew of trading services including features, and trading pairs among others. Initial reaction has been positive following the largest crypto exchange supporting the asset with a 4.9% price jump.

Binance Opens Trading Services To Render

Binance has opened trading services to Render tokens after a rebrand raising holders’ enthusiasm in the market. In a July 26 announcement, the company noted that the asset has been added to a group of services including Binance Simple Earn, Convert, Buy Crypto among others. With this addition, users can subscribe to the asset’s flexible products on simple earn.

Furthermore, on July 29, users will be able to buy the asset with any payment option in the exchange auto-invest. The Buy and Sell listing allows the community to purchase the asset with debit and credit cards including other payment options while Convert will be traded against Bitcoin (BTC) and USDT at zero fees.

Similarly, the asset was added to Binance Margin and Futures trading which will make it a borrowable asset on Cross and Isolated margins. Perpetual contract will be up to 50X leverage including a maximum funding rate at +2.0% /-2%.

“Based on market risk conditions, Binance may adjust the specifications of the RENDERUSDT Perpetual Contract from time to time, which include the funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements. Multi-Assets Mode allows users to trade the RENDERUSDT Perpetual Contract across multiple margin assets, subject to the applicable haircuts.”

Also Read: WUSD Stablecoin In The Spotlight For Mainstream Adoption In Africa

Users Anticipate Growth Post Rebrand

The new listing comes after the RENDER rebrand and token swap from RNDR. On July 22, the platform delisted all RNDR spot trading pairs alongside the cancellation of related orders while making future listing disclosures. Initial efforts saw volume down 56% showing the impact of Binance listing on the assets.

At press time, RENDER trades at $6.9, up 4.9%% in the last 24 hours while maintaining a 7.2% jump this week.

Also Read: Ripple SEC Settlement: XRP Lawyer Spotlights Major Obstacle If Agency Accepts Deal