RENDER Gains Momentum as Coinbase Launches Perpetual Futures

• Coinbase will add perpetual futures for Render, Saga, and Threshold, enhancing trading options on its international platform.
• Render Network sees growth in frame rendering and active addresses, boosting network adoption and interest.

Coinbase International Exchange has announced that it will add support for perpetual futures of Render (RENDER), Saga (SAGA), and Threshold (T) on both Coinbase International Exchange and Coinbase Advanced.

The RENDER-PERP, SAGA-PERP, and T-PERP markets will officially launch on or after August 29, 2024, at 9:30 a.m. UTC. This development is expected to pique traders’ curiosity, particularly those who have been closely tracking the performance of these tokens in the marketplace.

@CoinbaseIntExch will add support for Render, Saga, and Threshold perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our RENDER-PERP, SAGA-PERP, and T-PERP markets will begin on or after 9:30am UTC 29 AUG 2024. $RENDER $SAGA $T pic.twitter.com/xoiQ0cwK8D

— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) August 22, 2024

Render Token Gains Spotlight with Impressive Market Performance

The Render token (RENDER), in particular, has received a lot of attention since this announcement. The token has undergone a tremendous climb, with its current price hovering around $6.18. The value of RENDER has increased by 5.51% over the last 24 hours and by 37.15% over the last seven days.

This impressive performance has also moved RENDER to the top of the day’s top gainers list, indicating that investors interest and confidence are expanding.

Additionally, data from CoinGlass reveals an unexpected facet of RENDER’s market activity. The OI-Weighted Funding Rate for RENDER is 0.0079%, suggesting a specific trend in the derivatives market that may impact the token’s future performance.

This indicator frequently reveals insights into traders’ sentiments toward a given asset, and in this case, it indicates a cautiously bullish outlook for the token.

The Network’s continued developments add to this excitement. The network recorded a 17.7% increase in the quantity of frames produced in Q1 2024, as CNF previously reported. This expansion is largely due to incentive packages meant to encourage node operators and GPU providers in the network.

Furthermore, the number of daily active addresses and whale transactions on the network increased significantly in July, indicating that Render Network’s services are becoming more widely adopted and used.