After finding out about RENDER being delisted by Coinbase, many people purchased the token, causing the price to fall by about 8% to $4.50. Many investors panicked when nobody knew whether the strike had targeted the native token or just the ERC token. From June 26, Coinbase Premium took down older versions of RNDR, Helium Mobile, Ribbon Finance and Synapse.

Key Takeaways:

• The reason RENDER’s price fell by 8% is that people did not recognize that Coinbase was the one to delist the old Ethereum, not RENDER or Ethereum.
• The RENDER token on Solana will go on functioning as normal after the market was taken down.
• On many other exchanges, the RENDER tokens upgrade was completed ahead of Coinbase.
• Learned traders looked at FUD causing instability in prices as a great chance to buy more cryptocurrency.

Key Distinction Between Token Versions

The shutdown will only affect the previous RNDR token from Ethereum, not the newer RENDER running on Solana. Most investors didn’t see much of a difference between the two until the panic began. With investors feeling nervous, those with experience in the market were able to make good acquisitions.

On November 1st, 2023, the Render Network launched its platform on the Solana blockchain. RNP-002 and RNP-006 have both received an official seal of approval from the community via voting. At this point, users who had BCC on the large exchanges had their coins switched over to BCH, without having to do anything.

Migration Timeline and Exchange Support

The arrival of these tokens led other exchanges to act faster than Coinbase. There was a misunderstanding when investors realized the company had been taken off the exchange back in March. Because the company was slow to adapt, a lot of people didn’t understand what it really stood for.

In advance of the update, other leading exchanges swapped their users’ RNDR to RENDER. Binance and KuCoin completed the process as expected, out of the platforms we looked into. Because of this, users were still using the older version, as it was not ready for update by Coinbase.

Network Response and User Guidance

Once the situation in the market became unclear, Render Network gave its token holders clear instructions. The team is advising users of the Solana chain to switch to RENDER as soon as they can. They also detailed the process of finis

The network tried to calm investors’ fears over what might happen as a result of delisting. It was explained that RENDER token operations will not be interrupted on any major trading platform. Transactions are also processed more quickly and at a lower cost with Solana than on the original.

Smart investors saw the fall in price as the right time to increase their holdings instead of worrying about it. Many on social media pointed out that the market reacted stronger than expected to news that wasn’t very important. So, traders who wanted to buy more bought in when the price went up for a short time.

Because of FUD, the price of crypto fell, which allowed savvy investors to buy cheaply. Emotions seemed to play the biggest role in the country’s price reduction, rather than things occurring in the market. Before long, clarity about the situation could arise, making the correction a short one.

Conclusion: RENDER decrease

The way the market moves for the RENDER token points out that transparent exchange rules, as well as transparent token transfers, help reduce wild swings in its price. Following Coinbase’s delisting of the older version, the SLT token continues to be active on the network, as scheduled development is ongoing.