The Solana-based (SOL) decentralized rendering altcoin is trading sideways despite news that the leading U.S. cryptocurrency exchange platform is supporting it.
Coinbase in a new announcement Called We are planning to list RENDER, a decentralized altcoin that will allow users to share their unused graphics processing unit (GPU) power to render graphics and visual effects as a means of earning rewards.
“Coinbase will add support for Render on the Solana network (SPL token). Please do not send this asset over any other network. Otherwise, you may lose your funds. Transfers of these assets are possible on Coinbase and CoinbaseExch in regions where trading is supported.”
The digital asset has received a lukewarm response to its listing, trading at $4.91 at the time of writing, down 2.1% in the last 24 hours.
Render was originally an Ethereum-based (ETH) token, but switched to Solana in late 2023. According to project founder Jules Urbach, this move significantly improves the usability of the protocol.
Urbach says:
“Moving Render’s core infrastructure to Solana is a watershed moment that unlocks key new capabilities such as real-time streaming and dynamic NFTs.”
According to Coinbase, support It contains both Solana and Ethereum versions of the asset, and the tokens have slightly different names across the blockchain.
“Coinbase supports Render token trading on both the Ethereum and Solana networks. Render on the Ethereum network will keep the ticker RNDR, while Render on Solana will have the ticker RENDER and will be named Render (Solana) on the trading platform.”
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