As the market condition remained bullish last week, Render [RENDER] also performed well by pushing its price in double digits...
also performed well by pushing its price by double digits. However, while this instilled bullish sentiment among investors, a few other developments also happened.RENDER bulls dominated the market last week by pushing the token’s price up by more than 18%. This pump allowed the token to trade at $10.43 at press time, with a market capitalization of over $5.4 billion.
Since the aforementioned updates looked promising, AMBCrypto checked the token’s on-chain metrics to find out whether they also hinted at a price hike in the coming days. Notably, big-pocketed players in the market also acted similarly. The token’s supply held by top addresses increased last week—A sign of increasing whale accumulation.also revealed that the token’s funding rate also increased, along with its price. A hike in the funding rate in crypto Futures means that the market is optimistic and traders expect the price to climb. This, because traders who believe the price will rise are willing to pay extra to keep their long positions.
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