Render price experienced fluctuations over the past 24 hours after a bearish trend. The altcoin is trading in a descending pattern, breaking below the $7 level amid market corrections. The cryptocurrency market experienced notable volatility recently. The AI-based altcoin was trading at $6.41 during the European trading session, marking a decrease of 2%.

The trading volume has seen a dip of 28%, indicating reduced trading activity. According to CoinMarketCap data, the current market capitalization stands at approximately $2.6 billion, positioning Render as the 31st largest cryptocurrency by market cap.

Render price

Currently, The AI-based altcoin oscillates between $6.3 and $6.7 as market forces vie for dominance, though recent trends favor the bears.

The leading cryptocurrency exchange, Binance, has endorsed the transformation and rebranding of the Render token, previously known as RNDR. As part of this endorsement, Binance announced the removal of existing RNDR trading pairs, including pairs like RNDR/BTC and RNDR/USDT.

This action is set for July 22, 2024, at 06:00. Binance will also cancel any open orders involving RNDR. Following the delisting, Binance plans to introduce new trading pairs under the RENDER ticker.

The bearish momentum has continued to impact the Render price, potentially driving its value down below the $6.50 support zone. Increasing pressure from sellers might further reduce its price to around $6.30, underscoring a negative outlook. If the downward trend persists, RNDR could see a drop to a low of $6.20, indicative of a significant market retreat.

On the flip side, if bullish traders regain control, Render price could climb past the $6.60 resistance level. Breaking past this barrier might boost the tokens value to $7. A sustained positive trend could push its price toward $10, signaling a robust upturn in investor confidence.

The Bollinger Bands on the 4-hour price chart for Render show a narrow trading range, suggesting low volatility in recent sessions. The upper Bollinger Band hovers around $6.69, while the lower band is at $6.47. This tight channel indicates that RNDR has been trading within a constrained price range.

The Relative Strength Index (RSI) on the same chart is 49.59, close to the neutral 50 mark, which indicates the markets lack of strong momentum in either direction. The Moving Average Convergence Divergence (MACD) shows a convergence of the MACD line and the signal line, suggesting that the market might be gearing towards a bullish.

Related Articles

RenderToken (RNDR) is a distributed GPU rendering network on Ethereum, connecting artists needing GPU power with miners renting their GPU capabilities.

RNDR's potential to reach an all-time high depends on market conditions, investor sentiment, and technological advancements.

RNDR launched publicly on April 27, 2020. Key milestones include its 2017 token sale and beta testing period from January 2018 to May 2018.

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Render Price Action Pivots On Binance Support For Token Swap and Rebranding - CoinGape

Speaking at a podcast named Making Markets today, July 13, Binance CEO Richard Teng shared vital insights on crypto developments post-CZ (Changpeng Zhao) era. The former Abu Dhabi regulator talked about crypto adoption and regulation, global adoption trends, and many other things.

Heres a brief report on the podcast that appears to have promptly gained significant traction across the industry.

Speaking with Eric Golden, the host of Making Markets, Teng shared insights on Binances journey from a startup to an industry behemoth. Further, Teng highlighted how 2024 came as a landmark year for the crypto industry. This statement is primarily attributable to the approval of spot Bitcoin ETFs and many more digital asset-based ETFs in the pipeline despite regulatory scrutiny. Aligning with this, the former Abu Dhabi regulator appears to be highly bullish on the crypto industrys future and its global consideration as a prominent asset class.

Meanwhile, the CEO also talked about how Binance recently encountered regulatory challenges in the U.S. in its money laundering saga. ChangPeng Zhao, the former face of the crypto exchange, took regulatory heat that caused his downfall. However, Teng stressed that as an exchange, it only grew and learned from the past.

Further, gauging in on its colossal user base, the CEO proclaimed that the global trust does not come overnight, but instead is a result of constant actions taken by the firm to streamline user experience. On the other hand, zeroing in on one of the hottest topics around the CEX

, the arrest of Tigran Gambaryan, Teng assured that the firm is doing everything in its power to bring the detained executive back to his home.

Also Read: Binance CEO Remains Bullish Despite Sluggish BTC Price Action, Heres Why

Notably, regulatory challenges have become quite a hurdle in todays crypto landscape. Each nation, aiming for the betterment of its citizens, has rolled out various regulations. However, Teng stated that Binance allows those regulations and adheres to them, shadowing the motive of offering users a protected and safe experience with digital asset investments.

Moreover, when asked about the effect of ETF approval on exchanges operations, particularly the cannibalization of market participants magnetized towards ETFs, Teng stated that the cannibalization effect remains minimal. Spotlighting cryptos 247 nature, Teng thinks that although ETFs serve as a great opportunity, traditional investment products have limitations.

Richard Teng concludes by saying that the crypto exchange has well-established relations with regulators across the globe, but it continues to stay nimble and is looking for opportunities to grow.

Also Read: Binance CEO Confirms Continued Support For USDC In EU

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Binance CEO Shares Developments In Post-CZ Era and Crypto Outlook - CoinGape

Representatives Rich McCormick and French Hill have introduced a resolution to the House Committee on Foreign Affairs, calling on the United States government to classify the detention of leading crypto exchange Binance executive Tigran Gambaryan in Nigeria as a hostage situation.

The resolution, officially submitted on Wednesday by McCormick and co-sponsored by Hill, demands the immediate release of Gambaryan, a U.S. citizen. It highlights concerns about Gambaryans declining health in Kuje Prison and urges the U.S. government to declare him as wrongfully detained by a foreign government.

The congressmen warn that if Gambaryans case isnt resolved by mid-July, his detention could be prolonged due to the courts typical recess until September.

Gambaryan, Binances head of financial crime compliance and a former IRS agent, was detained in Nigeria in February along with colleague Nadeem Anjarwalla. They face money laundering charges, though tax-related accusations have been dropped. Anjarwalla escaped custody in March.

The resolution emphasizes Gambaryans decade-long service with the IRS, during which he helped seize over $4 billion in illicit funds for the U.S. government. Rep. Hill, who visited Gambaryan in prison last month, expressed concern about the executives status:

After visiting recently with Tigran at Kuje Prison in Nigeria, I noted that his health is deteriorating. I am proud to join my friend and Mr. Gambaryans Congressman, Rep. Rich McCormick, in leading this resolution and sending a signal to the Nigerian government that he must be immediately granted a release, the remaining charges dropped, and return home to America where he belongs.

Both Hill and McCormick view the detention as a violation of Gambaryans rights and a serious injustice. McCormick said:

The continued detention of Tigran Gambaryan in Nigeria is a clear violation of his rights and a grave injustice. We urge the Nigerian government to immediately release him and provide him with the necessary medical care and due process rights. The United States Government must do everything in its power to secure the release of one of our citizens wrongfully detained abroad.

This resolution follows a June letter signed by 16 members of Congress, urging the White House to address Gambaryans imprisonment urgently, stressing the need for swift action to ensure his safety and preservation of life.

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US lawmakers claim Binance exec arrested in Nigeria is a hostage - ReadWrite

As Binance moves into its eighth year, it plans to continue leading the digital asset sector. The exchange holds licenses and registrations across 18 jurisdictions, more than any other centralized crypto exchange.

Binance, the worlds largest cryptocurrency exchange, will mark its seventh anniversary on July 14, 2024. The exchange has developed from a young startup to a seasoned pro in the cryptocurrency industry since its founding. It currently has more than 210 million users globally.

Amid the growing worries over user asset security following the demise of competitor exchange FTX, Binance insists that user funds are stored transparently at a 1:1 ratio. Notably, the exchange crossed the $100 billion mark in user fund holdings earlier this year.

Binances infrastructure has been robust enough to support this massive user base. The platform processes an all-time high of 2.58 million Queries Per Second (QPS). This guarantees efficient processing even at busy periods, giving customers a dependable service.

The exchanges quick expansion has made it a leader in the quickly changing cryptocurrency market. To better serve its users, Binance constantly looks into new ideas and partnerships. A press release stated that between January and June 2024, institutional registrations on the exchange increased by more than 36%.

The companys Chief Executive Officer (CEO), Richard Teng, pledged to ensure that newcomers have a safe and comfortable experience on the exchange. He explains:

To protect Binance users from potential security breaches and other extreme situations, we maintained the value of our SAFU fund above $1 billion, and will keep doing so in the future.

Binance is throwing a number of global events, meetups, and giveaways to celebrate its seventh anniversary. In a post on Binance Square, the exchange said these celebrations will offer users the chance to win exclusive 7YA Binance merchandise, crypto, and digital collectible giveaways.

As Binance moves into its eighth year, it plans to continue leading the digital asset sector. The exchange holds licenses and registrations across 18 jurisdictions, more than any other centralized crypto exchange. Binances Law Enforcement Training program has also been instrumental in fighting illicit activity related to digital assets, processing over 62,800 law enforcement requests between June 2023 and May 2024.

While the exchange still faces regulatory challenges from financial agencies like the Securities and Exchange Commission (SEC), it aims for the institutionalization of crypto and greater regulatory clarity. Teng states:

With the trust and support of our global community, we are confident that our first seven years of hard work have laid a solid foundation for even greater success on the path of expanding financial freedom and inclusion. Weve only just begun.

Meanwhile, Binances native token, BNB, is currently trading at around $525, up by over 112% in the past year. With a market cap of $77.5 billion, BNB ranks fourth among the largest cryptocurrencies by market cap.

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Binance Celebrates Seven Years of Crypto Leadership - Coinspeaker

In a strategic move to facilitate a seamless transition, Binance, one of the worlds largest cryptocurrency exchanges, has suspended existing spot trading pairs for Render (RNDR).

Binance has pledged to support Renders rebranding efforts, which will see RNDR tokens transition to Render (RENDER).

As Render prepares to unveil its new identity, investors can invest in the new Ethereum token, RCO Finance (RCOF), offering an ROI of up to 30x in the presale stage.

Render (RNDR), the innovative token powering decentralized rendering solutions, is undergoing a significant transformation.

Binance has pledged to support this rebrand and ensuing token swap and has suspended all existing RNDR spot trading pairs. This move is designed to streamline the transition process for investors and ensure a smooth migration to the new Render (RENDER) tokens.

Render has become a pivotal player in decentralized rendering, offering scalable solutions powered by blockchain technology.

The rebranding to Render (RENDER) signifies a strategic evolution to better align its brand identity with its core offerings and market positioning.

Amidst the market buzz surrounding Renders rebranding, RCO Finance (RCOF) is emerging as a promising opportunity for early investors with the ongoing token presale.

With presale prices starting at $0.01275 and expected listing prices ranging between $0.4 to $0.6, early investors can realize up to 3000% in price gains.

The presale stages of RCO Finance highlight its commitment to fair distribution and community engagement.

Investors participating in the presale secure tokens at advantageous rates and gain access to exclusive bonuses, including up to 40% bonus tokens during the Bonus Round phase.

The RCOF tokenomics, featuring a deflationary model, reinforces its value proposition and long-term viability.

In addition to growing your crypto portfolio, owning RCOF tokens unlocks many benefits, including discounted transaction fees, governance voting rights, and participation in dividend distributions.

As RCO Finance aims to disrupt traditional finance with its decentralized trading platform, early adopters can leverage its innovative features and capitalize on the burgeoning DeFi landscape.

RCO Finance is spearheading innovation in decentralized trading with its robust platform powered by AI and machine learning.

Using cryptocurrencies, the platform allows users to invest in various assets, including stocks, real estate, and commodities. This seamless integration of traditional and digital finance bridges gaps in accessibility and offers unprecedented investment flexibility.

Central to RCO Finances appeal is its AI-powered Robo Advisor, which provides personalized investment strategies tailored to individual preferences and market conditions.

This Robo Advisor leverages advanced algorithms to analyze financial goals, risk tolerance, and market trends, enabling users to make informed investment decisions confidently.

By automating portfolio management and eliminating emotional bias, RCO Finance enhances user experience and maximizes investment potential.

Moreover, RCO Finance prioritizes security and transparency through its audited smart contracts and decentralized infrastructure. The platforms non-KYC approach preserves user privacy while adhering to regulatory standards, ensuring a compliant yet user-centric trading environment.

With features like automated market making, crypto lending, and pre-derivatives trading, RCO Finance empowers users to optimize their investment strategies and participate actively in the evolving DeFi ecosystem.

Investors looking to capitalize on the future of finance should consider investing in RCO Finance for its cutting-edge technology, robust security measures, and comprehensive investment solutions.

For more information about the RCO Finance Presale:

Visit RCO Finance Presale

Join The RCO Finance Community

Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the trustworthiness, quality, accuracy of any materials in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Do your research and invest at your own risk.

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Binance Will Suspend Buy/Sell Orders for this Altcoin, Capital Moving to Hidden Ethereum Token - Crypto Reporter

Amid the heightened crypto volatility fueled by institutional investors, Binance Coin (BNB) has registered a notable spike in whale activity. According to on-chain data provided by BscScan, a whale named Capybara_bnb deposited 200k BNB, worth about $103 million, to the Binance exchange earlier this week.

As of this writing, the Capybara_bnb whale holds about 203,609 BNB, worth around $103 million. With heightened crypto fear, which stands around 25 percent based on the fear and greed index, more sales by Capybara_bnb could trigger further BNB price capitulation ahead.

The BNB price action has closely mirrored that of Bitcoin in the past, thus expected to follow similar price action ahead. Most crypto analysts believe that the crypto industry will enter into a fakeout consolidation before a major bullish breakout later this year.

As a result, BNBs price could drop as much as $450 in the coming weeks before establishing a reversal pattern. Furthermore, BNB price on the daily time frame has formed a possible double top coupled with a bearish divergence on the weekly Relative Strength Index.

The large-cap altcoin, with a fully diluted valuation of about $80 billion and a daily average traded volume of around $1 billion, has dropped around 14 percent in the past four weeks to hover about $528 on Friday

, July 12, 2024.

The Binance network has grown to a vibrant web3 ecosystem, with more than $5 billion in stablecoins market cap and over $4.4 billion in total value locked. The Binance web3 ecosystem has thrived in non-western nations following the regulatory crackdown led by the United States.

However, as we previously reported, the Binance ecosystem has been counting on a major win after a United States court dismissed claims filed by the SEC that the exchange violated securities laws vial the initial BNB secondary sales.

With the current Binance top executives, led by CEO Richard Teng, focused on quality customer service, it is safe to assume the network will continue to grow in the coming years. As we recently reported, the Binance team will conduct its Second Sunset Fork to merge the BNB Beacon chain with the BSC Chain.

After more than a year of impressive bullish performance, Bitcoin price will begin to be outshined by the altcoin industry soon. Most of the altcoins are trading in their bear market lows against Bitcoin, but the trend will soon change.

Moreover, Bitcoin dominance is on the cusp of a macro reversal, which will accelerate the ongoing crypto cash rotation. As CNF previously reported, the inevitable final approval of spot Ether ETFs in the United States will trigger a fresh altcoin season ahead

https://x.com/el_crypto_prof/status/1811683244468822211?s=46

In this regard, it is safe to assume that more investors will tap into the BNB ecosystem, which has deep liquidity and the necessary infrastructure to support more traders.

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BNB Drops After Whale Moves $103 Million: Whats Next for Binance Coin? - Crypto News Flash

FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents Finance Magnates Pacific Summit 2024 (FMPS:24), is the premier event for the retail investing industry and fintech community in the Asia Pacific region. This dynamic platform connects global expertise, fostering growth and innovation across online trading, fintech, payments, and crypto. Join FMPS:24 to build relationships, explore new possibilities, and gain insights from industry leaders and experts. Register Now: https://bit.ly/4cQSiB1 #fmps24 #fmps #fmevents #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today: LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/ Facebook: https://www.facebook.com/FinanceMagnatesEvents Instagram: https://www.instagram.com/fmevents_official Twitter: https://twitter.com/F_M_events TikTok: https://www.tiktok.com/@fmevents_official YouTube: https://www.youtube.com/@FinanceMagnates_official Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more! Finance Magnates Pacific Summit 2024 (FMPS:24), is the premier event for the retail investing industry and fintech community in the Asia Pacific region. This dynamic platform connects global expertise, fostering growth and innovation across online trading, fintech, payments, and crypto. Join FMPS:24 to build relationships, explore new possibilities, and gain insights from industry leaders and experts. Register Now: https://bit.ly/4cQSiB1 #fmps24 #fmps #fmevents #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates. 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Binance Scheduled to Face Tax Evasion Charges in Nigerian Court This October - Finance Magnates

The past few years for Binance, the largest crypto exchange by trading volume, have been one for the books. They have been marked by intense regulatory drama across various jurisdictions, which has resulted in hefty sanctions and penalties for the exchange, such as the ousting of its founder from his executive position, operational license suspensions, and the exchanges exit from several key markets.

Despite the challenges, Binance has continued to grow, and it is now celebrating a major milestone that highlights its resilience over the years.

Celebrating the exchanges seventh-year anniversary, Binance CEO Richard Teng reflected on the exchanges accomplishments since its inception.

At the heart of his reflection is an appreciation for the exchanges journey since its launch in 2017, evolving from ground zero to its current status as one of the industrys foremost exchanges. Teng highlighted several of Binances notable achievements, including its accumulation of a 200 million global user base and exceeding $100 billion in fund holdings.

While the exchange is renowned for its major regulatory troubles across various regions, the CEO asserted that Binance has made substantial progress in its regulatory foothold. He emphasized that the exchange has placed an even greater focus on compliance, even collaborating with global authorities to combat illicit activity across the industry.

Binance has also recorded a significant 36% increase in institutional registrations this year, alongside increased utilization of its educational platform, Binance Academy.

The celebrations were not Tengs only focus, as the CEO charted an optimistic outlook for the exchanges future.

Looking to the future, Binances recently appointed CEO has outlined the exchanges key focus areas. Teng emphasized that the exchange is gearing up for the next phase of the industry and aims to remain at the forefront to accommodate evolving trends.

The industry is expected to attract more large-scale investors and capital, driven by the growing institutionalization of digital assets and greater regulatory clarity. To accommodate the expanding ecosystem and participants, Binance will prioritize enhancing user experience, providing accessible crypto knowledge, and improving customer support.

CEO Teng further asserted that the exchange will maintain its leadership position in the coming years. With the trust and support of our global community, we are confident that our first seven years of hard work have laid a solid foundation for even greater success on the path of expanding financial freedom and inclusion. Weve only just begun, he remarked.

Despite its many troubles, Binance has undoubtedly cemented its place as an industry leader. However, the exchange still faces several regulatory woes, and its ability to successfully navigate these challenges and maintain positive momentum will determine its ability to retain its position.

Read more about the Binance executive detained in Nigeria Binance Gambaryans Health At Risk as Test Results Denied

Find out more about BitMEXs counter of the DOJs regulatory violation claims: Old News: BitMEX Dismisses Guilty Plea to AML Violations

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Binance CEO on 7th Anniversary: Weve Only Just Begun - DailyCoin

The US House of Representatives introduced a resolution urging Nigeria to release Tigran Gambaryan, a former federal agent and Binance employee who has been detained in the country since February.

Representatives Rich McCormick and French Hill submitted the resolution on July 11.The document emphasizes Gambaryans service as a federal agent and his role in recovering over $4 billion in illicit funds.

At the time of his detention, Gambaryan was serving as Binance Holdings Limiteds Head of Financial Crime Compliance.

Gambaryan traveled to Nigeria on Feb. 26 for high-level meetings regarding Binances compliance issues amid the countrys challenges with increased adoption of crypto via peer-to-peer markets, which indirectly caused a steep devaluation in the naira.

According to the resolution, the meetings became hostile, leading to Gambaryans detention without due process. Nigerian authorities held Gambaryan in a government-owned house for five days, preventing him from contacting his family, company, attorneys, or the US Department of State.

Despite a court order limiting his detention to 14 days, Nigerian officials continued to hold him without legal basis from March 12 to April 5, at which point authorities charged Gambaryan with charges including tax evasion and money laundering.

Gambaryan was subsequently transferred to Kuje Prison, known for its harsh conditions and housing members of Boko Haram. The Department of States 2023 human rights report documented significant abuses in Nigerian prisons, raising concerns about Gambaryans treatment.

The resolution claims Nigeria is wrongfully detaining Gambaryan to extort Binance, citing statements from Nigerian Information Minister Mohammed Idris.

It adds that efforts to secure Gambaryans release have faced numerous obstacles, including intentionally delayed proceedings and denial of bail requests.During his detention, officials have not allowed him to speak privately with his attorneys or family.

According to the document, a congressional delegation visited Gambaryan on June 20 and expressed extreme concern over his condition.

The resolution further details that Gambaryans health has deteriorated due to inadequate medical care. He tested positive for malaria and collapsed in court on May 23, yet authorities delayed his hospital treatment. Although a judge ordered his hospitalization, officials returned him to prison after a brief visit.

The resolution calls on the US government to take immediate action to secure Gambaryans release, recognize his wrongful detention, and ensure he receives full consular and medical access while in detention.

The House resolution demands Nigeria uphold due process and human rights for Gambaryan and all political prisoners and expresses solidarity with his family during this challenging time.

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US Congress says Nigeria 'wrongfully detaining' Binance exec to 'extort' exchange, initiates legislation to free him - CryptoSlate

The Federal Inland Revenue Service (FIRS) has re-arraigned Binance on a four-count accusation of suspected tax evasion.

Binances representative in Nigeria Ayodele Omotilewa was charged on Friday before Emeka Nwite, a federal high court judge in Abuja.

Omotilewa pleaded not guilty to the four counts.

Theonlydefendantnamedintheupdatedcharge,whichwassubmittedonJune14,isBinanceHoldingsLimited.

Following the representation made by Binance, Moses Ideho, FIRSs attorney, requested a date for the trial to begin. The trial was then scheduled for October 11 by the presiding judge.

The head of financial crime compliance at Binance Tigran Gambaryan has been on trial in Nigeria for suspected tax evasion and money laundering for the past few months.

The tax accusations against Gambaryan were withdrawn by the Federal Inland Revenue Service (FIRS) on June 14.

A federal high court in Abuja dismissed Gambaryan after the FIRS validated Omotilewas designation as the firms representative.

However, the EFCC has not dropped its allegations against Binance and its management.

The anti-graft commission has charged Binance Holdings Limited, Gambaryan, and Nadeem Anjarwalla, Binances regional manager for Africa, with money laundering.

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FG re-arraigns Binance on tax evasion charges - TV360