TLDR
- Render (RNDR) saw a 40.16% price surge in 24 hours, reaching $11.853
- Trading volume increased 244.93% to $4.23 billion
- Open Interest hit all-time high of $173.08 million
- Large holder inflow surged 4627% since December 1st
- Stock-to-Flow ratio increased from 0 to 127.14k, indicating growing scarcity
RENDER, the native token of the Render Network, has experienced a remarkable price surge over the past 24 hours, reaching a nine-month high of $11.853. The move represents a 40.16% increase and comes amid heightened trading activity and whale accumulation.
Trading volume for RNDR has seen an extraordinary increase, jumping 244.93% to reach $4.23 billion. This surge in activity has pushed the token’s market capitalization above the $5 billion mark, establishing RNDR as one of the day’s top performers in the cryptocurrency market.
The token’s performance stands out even as Bitcoin crossed the $100,000 milestone. While other AI-focused tokens showed mixed results, with Internet Computer Protocol dropping 2.08% and Bittensor declining 5.23%, RNDR maintained its upward trajectory.
Market data reveals substantial institutional interest in RNDR. According to Coinglass, the token’s Open Interest has reached an all-time high of $173.08 million, indicating that both new investors are entering the market and existing holders are maintaining their positions.
Whale activity has played a crucial role in this price movement. Data shows that large holder inflow has increased by 4627% since December 1st, rising from 26.02k to 1.23 million. This dramatic increase suggests that large investors are actively accumulating RNDR tokens.
The token’s Stock-to-Flow ratio has shown a notable shift, moving from 0 to 127.14k over the past week. This metric indicates that RNDR has transitioned from a state of oversupply to one of relative scarcity, potentially contributing to the price appreciation.
Technical indicators point to strong market sentiment. The MVRV Long/Short Difference has risen steadily over the past week, climbing from 0.04% to 6.83%. This increase suggests that long-term holders are seeing growing profit margins while maintaining confidence in their positions.
Trading patterns show that RNDR has outperformed several major cryptocurrencies during this period. While Ripple fell by 9.71% and Solana declined by 0.70%, RNDR’s upward momentum remained strong.
Market analysts have identified $12.095 as the next key resistance level for RNDR. The token faces limited resistance above this price point, suggesting potential for continued upward movement if current market conditions persist.
The surge comes as the broader cryptocurrency market shows mixed performance. Ethereum posted gains of 4.6%, while other major altcoins experienced varying degrees of price movement.
Volume analysis indicates sustained buying pressure across major exchanges. The increase in trading activity has been particularly pronounced on spot markets, suggesting genuine demand rather than leveraged trading.
The token’s price action has attracted attention from retail investors, with social media metrics showing increased discussion and engagement around RNDR over the past 24 hours.
Order book data reveals strong support levels have formed below the current price, potentially providing a foundation for further price appreciation.
Recent exchange data shows a decrease in available supply on major trading platforms, aligning with the observed increase in whale accumulation patterns.
The last recorded price for RNDR stands at $11.853, representing the nine-month high achieved during this recent surge.
