Zeta Markets will pause the trading of RNDR on Monday, July 22 at 9 am UTC due to Render’s upcoming upgrade.

On Friday, Zeta Markets notified its users that due to Render’s token migration from RNDR to RENDER, the platform will suspend trading of the current ERC-20 token. Render expects to transition to the new ticker symbol RENDER on July 26.

Exchanges Supporting RNDR to RENDER Migration

Zeta Markets’ announcement aligns with several major cryptocurrency exchanges that support the upgrade. Binance, OKX, Crypto.com, Kraken, and KuCoin have all announced plans to automatically upgrade RNDR to RENDER for their users.

In the Friday update, the Zeta Markets team stated that the trading halt will result in all open positions for RNDR-PERP being settled at the token’s prevailing price on the PYTH oracle price feed.

“If you choose to leave your positions as they are, at the halt time your unrealized P/L will automatically convert into realized P/L (settled in USDC),” Zeta Markets warned its users.

To avoid this, users have the option to close their RNDR positions ahead of the scheduled suspension. Zeta Markets will announce any future re-listing of RENDER once a decision is made.

Render Network Activity Spikes

The Render network has registered a noticeable increase in activity ahead of the upgrade. On-chain data indicates that the active address count hit a new peak on July 15, with over 1.13k new addresses recorded on that day.

The 7-day change for new addresses is currently 27.20%, while active addresses and zero-balance addresses on the Render network have increased by 50.26% and 126.13% in the past week.

Render has also experienced a significant spike in transaction count ahead of the anticipated upgrade. Over the past 30 days, transactions between $1.00 and $10 have increased by 627%, while transactions valued between $10.00 and $100.00 have risen by 459%. Large transactions involving more than $10k surged by 70% over the past month.

However, the RNDR price has dropped over 18% in the past 30 days, falling from highs above $8.20 to the current level of $6.48.

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