The native utility token of Render Community, RNDR, has emerged as the highest gainer among the many prime 100 crypto property.
Render (RNDR) value is up by 40% prior to now 24 hours and is buying and selling at $3.17 on the time of writing.
The asset’s market cap at present stands at $1.17 billion, making it the 51st largest cryptocurrency. Render’s 24-hour buying and selling quantity skyrocketed by 353%, reaching a whopping $367 million.
Based on information offered by the market intelligence platform Santiment, Render’s social quantity witnessed a 131% surge over the previous day. The worth and social hike come as RNDR’s whale exercise skyrocketed prior to now 24 hours.
Per Santiment, whale transactions consisting of a minimum of $100,000 price of RNDR tokens surged by 146% prior to now 24 hours — rising from 42 to 103 transactions per day.
When the whale exercise of a token witnesses a sudden hike, the volatility of the asset is anticipated to develop as nicely for the reason that market could possibly be manipulated by massive gamers.
Earlier than the surge got here, RNDR’s whole open curiosity (OI) noticed a small hike. Based on Santiment, Render’s whole OI rose from $27 million on Nov. 14 to $30 million on Nov. 15. Nonetheless, it’s not clear whether or not brief or lengthy place holders are dominant till additional value actions.