The price of Render (RENDER) has fallen by approximately 8% over the past 24 hours following investor confusion triggered by Coinbase’s announcement to delist the older version of the Render token, known as RNDR. Despite this, the Solana-based RENDER token remains fully supported on the exchange.
This recent price decline, bringing RENDER to roughly $4.50, coincided with a dramatic spike in trading activity, with volume surging by more than 150% amid the confusion. The panic was sparked by Coinbase’s statement issued on May 27, announcing the removal of several tokens, including RNDR, which represented an outdated Ethereum-based iteration of the asset. Helium Mobile (MOBILE), Ribbon Finance (RBN), and Synapse (SYN) were also listed for delisting on June 26, as Coinbase stated they had outdated protocols that no longer met listing standards following the launch of updated versions.
Render Network quickly clarified that Coinbase’s delisting applied only to the older Ethereum-based RNDR token, and emphasized that the newer Solana-based RENDER token remained unaffected. Users were reminded to convert their RNDR (ERC-20) tokens to the newer RENDER on Solana. Most major cryptocurrency exchanges had already automatically migrated their users to the newer Solana version previously, but Coinbase lagged in completing this transition, adding to the confusion this week.
Despite Render Network’s reassurances and clear guidance for token conversion, misinformation continued to spread, prompting significant sell-offs and price declines. Many traders, recognizing the situation as a misinterpretation, saw the price drop as an opportunity to accumulate RENDER at lower levels.
