Render (RNDR) has been constantly registering notable features with small losses over the previous 60 days whereas the market has been affected by various factors.
RNDR is up by 3.65% prior to now 24 hours and is buying and selling at $1.79 on the time of writing. The asset’s market capitalization rose to roughly $665 million whereas its 24-hour buying and selling quantity has plunged by 9.5%, declining to $36.8 million.
![Render defies bearish market sentiment, becomes top gainer - 1](https://crypto.news/app/uploads/2023/10/Render-RNDR-11.48.23-11-Oct-2023.png)
Render’s surge got here whereas the marketwide bullish momentum has been fading away. Probably the most essential bearish components is the Israel-Palestine warfare.
In response to knowledge supplied by the market intelligence platform Santiment, RNDR’s social quantity surged by round 50% over the previous day. The hike comes whereas the asset’s social exercise registered a forty five% decline on Oct. 9.
However, per Santiment, the variety of whale transactions consisting of at the very least $100,000 value of RNDR plunged by 57% over the previous 24 hours — falling from 21 transactions on Oct. 10 to solely 9 on the time of writing. This means that smaller buyers fairly than whales might need triggered the current uptrend.
Regardless of the drop within the variety of whale transactions, Santiment knowledge nonetheless exhibits a risk of additional incline for the Render token.
Render’s price-daily energetic addresses (DAA) divergence nonetheless hovers within the optimistic zone. Per Santiment, RNDR’s value DAA divergence is presently 82%. In easy phrases, this means a “purchase sign” for the reason that variety of energetic addresses has elevated together with the worth.