Render Network’s Burn Rate Accelerates with 20K $RENDER Tokens Burned This Month

ate: Wed, Oct 09, 2024, 12:08 PM GMT

As of October 9, 2024, Render Network, the decentralized GPU rendering platform, is seeing a significant uptick in its token burn rate. This burn process, which permanently removes tokens from circulation, is turning Render into a more deflationary asset. Over the past two months, the platform has increased its token burns, signaling a strong momentum in reducing the overall supply of $RENDER.

In August, Render Network burned 23,406 tokens, valued at approximately $110,000. By September, the number had risen dramatically, with 315,037 tokens burned, totaling $183,000 in value. Now, in the first nine days of October alone, 20,000 $RENDER tokens have already been burned, worth about $112,000. At this pace, October is on track to set a new record for Render’s token burn activity.