CAUTIOUS HOLD

Render Network (RENDER)

Decentralized GPU rendering marketplace correlated with the AI hype cycle. Real utility but valuation stretched vs actual render job revenue.

Ranked 51st of 251 rated tokens. Scoring pass 11 Jun 2026.

Score
127/250
51st of 251
Percentile
80.1%
of the rated universe
Circulating
80.5%
19.5% of value still to vest
Off all-time high
-90.1%
10.1x to recover
EthereumERC-20-2 since last pass
01

What the numbers say

RENDER scores 127 of 250 across the 25-variable framework, which places it 51st of 251 rated tokens and inside the top quartile of the set. The framework verdict is CAUTIOUS HOLD.

RENDER is a top-10 name in the set on one variable. The score rests on Holder Concentration 5/10, 10th of 251, Social Mindshare 7/10, 11th of 251, Vesting Schedule 8/10, 21st of 251 and Supply Inflation 7/10, 26th of 251.

Against the same universe, RENDER sits in the bottom third on Real Staking Yield 1/10, 226th of 251, BTC Alpha Potential 2/10, 200th of 251 and P/S Multiple 3/10, 182nd of 251. These are the variables that would have to move for the verdict to change.

Only 80.5% of RENDER's maximum supply is in circulation, so 1.24x the current float is still scheduled to arrive. Holding price per token flat while the rest enters circulation implies 19.5% of the fully diluted value sitting ahead of today's holders. That is a real but manageable overhang.

RENDER trades 90.1% below its all-time high of $13.53. Recovering that level is a 10.1x move, not a 90.1% one, which is the arithmetic most drawdown charts hide.

02

25-variable breakdown

Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.

Cash flow

Cash flow variables for RENDER, scored 1 to 10 and ranked against 251 tokens
Protocol Revenue
460th of 251
Revenue Trend
532nd of 251
P/S Multiple
3182nd of 251
Real Staking Yield
1226th of 251

Supply

Supply variables for RENDER, scored 1 to 10 and ranked against 251 tokens
Supply Inflation
726th of 251
Vesting Schedule
821st of 251
Circulating / FDV Ratio
827th of 251
Buyback and Burn
363rd of 251

Ownership

Ownership variables for RENDER, scored 1 to 10 and ranked against 251 tokens
Smart Money Flows
626th of 251
Insider Selling
542nd of 251
Holder Concentration
510th of 251

Traction

Traction variables for RENDER, scored 1 to 10 and ranked against 251 tokens
TVL Trend
3111th of 251
Active Users
538th of 251
Developer Activity
633rd of 251
Network Growth
632nd of 251

Position

Position variables for RENDER, scored 1 to 10 and ranked against 251 tokens
Market Share
552nd of 251
Competitive Moat
557th of 251
Institutional Adoption
471st of 251
Exchange Depth
573rd of 251
Social Mindshare
711th of 251

Risk

Risk variables for RENDER, scored 1 to 10 and ranked against 251 tokens
Regulatory Safety
652nd of 251
Catalyst Calendar
629th of 251
BTC Alpha Potential
2200th of 251
Team Execution
630th of 251
Treasury Runway
633rd of 251

The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.

03

Catalyst and risk

Next catalyst

AI inference demand for GPU compute; Solana migration reducing fees and increasing throughput

Principal risk

Actual render network revenue tiny vs market cap; heavy dependence on AI narrative; centralized competitors cheaper

04

Market and supply

Price$1.34
Market cap$694.4Mrank 84
All-time high$13.5317 Mar 2024
Circulating supply518,772,101
Eventual supply (max supply)644,245,094
Dilution to full supply1.24x
Listed onBinance, Coinbase, OKX, Bybit

Price, market cap, supply and all-time high from CoinGecko, fetched 6 Aug 2026. The 25 scores come from the research pass dated 11 Jun 2026 and don't move with price.

05

Tokens with a similar profile

These are the closest matches to RENDER measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.

06

Sources

  • [Render Foundation] Render Network migrated from Ethereum to Solana in late 2023
  • [Messari] AI GPU compute demand driving DePIN narrative across crypto markets
  • [Render Dashboard] Render Network processes over 1M rendering jobs monthly
07

Common questions

What is the Early Thunder score for Render Network (RENDER)?
RENDER scores 127 out of 250 on the 25-variable framework, ranking 51st of 251 rated tokens (top quartile). The framework verdict is CAUTIOUS HOLD.
What are RENDER's strongest fundamentals?
RENDER ranks highest on Holder Concentration 5/10, 10th of 251, Social Mindshare 7/10, 11th of 251, Vesting Schedule 8/10, 21st of 251 and Supply Inflation 7/10, 26th of 251. Ranks are measured against all 251 tokens in the same scoring pass.
What are the weakest parts of the RENDER thesis?
RENDER scores in the bottom third of the universe on Real Staking Yield 1/10, 226th of 251, BTC Alpha Potential 2/10, 200th of 251 and P/S Multiple 3/10, 182nd of 251. The single risk carried on the scorecard is: Actual render network revenue tiny vs market cap; heavy dependence on AI narrative; centralized competitors cheaper
How much RENDER supply is still to enter circulation?
80.5% of eventual RENDER supply is circulating today, leaving 1.24x the current float still to arrive. At a flat price per token that is 19.5% of fully diluted value ahead of current holders.
How far is RENDER from its all-time high?
RENDER trades 90.1% below its all-time high of $13.53. Returning to that high requires a 10.1x move from the level used in this scoring pass.
Which tokens have a similar profile to RENDER?
Measured on the shape of all 25 scored variables rather than on price, the closest matches to RENDER are PENGU (104), FET (109), BTC (183) and GTC (106). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
What is the next catalyst for RENDER?
AI inference demand for GPU compute; Solana migration reducing fees and increasing throughput

Keep reading

Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.