#On-Chain Activity

How would you call Render, the sleeping bull? A bulldozer.

We're currently experiencing a bullish sentiment with Render, as indicated by the on-chain activity. Additionally, the number of In-the-money addresses stands at 23.57k, which accounts for 78.22% of the total. This has been the case since its launch, except for a period starting in January 2022 when it declined. However, in January 2023, it rocked back and did not lay down the guitar ever since. What caused this turnaround? The increase in the number and volume of large transactions (image 1) indicates that larger investors have discovered Render and see a promising future in it.

During this period, there has been a continuous increase in the circulating supply, with the token reaching its all-time high (ATH) price of $8.36 on November 20, 2021. At that point, the market cap was $1.21B (image 2). Interestingly, the current market cap is now $993.65M, which is very close to the ATH, yet the token price is only $2.63. Price ATH vs Current = -318% MC ATH vs Current = -2.75%

Looking at the market value (MV), the ATH was 8.46, while the current value is 1.79.

Now, let's examine the circulating supply (image 3). Until February 21, 2022, there were approximately 154 million tokens in circulation. This number increased to 254 million on July 11, 2022, and has continued to rise, reaching 366.5 million as of May 26, 2023. This represents a significant increase of 365-Day change +44.52%.

Regarding the whale ratio, there are precisely 7 whales who collectively hold 47.87% of the circulating tokens. Investors account for 37.3%, leaving 14.3% for retail investors.

In terms of the 30-Day Change:

  • Whales have decreased by 46.15%
  • Investors have increased by 36.47%
  • Retail investors have increased by 6.94%

These numbers help explain the current bullish sentiment on the exchanges. Finally, on average, holders tend to keep their tokens for around 6.7 months.

Fun fact: The increase in token value correlates with the growth of Telegram users, further highlighting the bullish sentiment on the exchanges. Show Less

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