Crypto.com, a leading cryptocurrency ecosystem is leveraging its platform to help Artificial Intelligence (AI)-based token, Render (RNDR) in its rebrand mission This will mark a shift in how the token is both traded and managed on the platform going forward.
As per an X post, the Crypto.com official handle confirmed the move will see the AI token rebranding its ticker symbol from RNDR to RENDER.
Key Timeline In the RENDER Rebrand
According to the update, to achieve the total rebrand of the token several notable steps will be carried out. On July 16, RNDR Perpetuals will cease to exist as it will get delisted on the Crypto.com exchange. Similarly, RNDR will be delisted on the Crypto (dot) com app and exchange, six days later on July 22.
🚨 Crypto․com is supporting @rendernetwork ’s Render ($RNDR) token rebranding to Render ($RENDER) 🚨
ℹ️ RNDR will be delisted on the https://t.co/vCNztATSCO App and Exchange on 22 July. RNDR Perpetuals will be delisted on the Exchange on 16 July.
Full details here 👉… pic.twitter.com/eSEb3QoRWY
— Crypto.com (@cryptocom) July 11, 2024
Another significant schedule on the rebrand timeline is July 22. As per the statement by Crypto.com, on that date, all trading, deposits, and withdrawals of the token’s ERC-20 version will be removed. Additionally, Cronos-based RNDR will be permanently deleted while trading will be paused.
As for the one-for-one reissue of tokens from RNDR to RENDER, users will need to wait as there is no set timeline for it yet. However, users will get updates at a future date and do not need to initiate any action for the reissue.
Many Artificial Intelligence (AI) projects are exploring avenues to bolster their influence in the industry. While it remains uncertain the end goal for Render, the support from
Binance and Crypto.com will prevent its ecosystem disruption.
Meanwhile, according to the exchange, a separate announcement will be shared as to when RENDER will debut on the app and exchange respectively.
Potential Impact and Market Performance
Analysts believe the move is likely to see Render’s fortune turn around given that it has witnessed a bearish trend lately. The altcoin is trading in a descending pattern, breaking below the $7 level amid market corrections.
At the time of writing, it is priced for $6.23 with hopes of a major rebound in the near future.
Render Network is a peer-to-peer network that allows AI apps and entertainment producers to rent unused GPU capacity. Assessing these services requires Render Network’s native cryptocurrency now RENDER
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