Crypto News

Render Token Surges To New All-Time High Amid Bullish Momentum

The Render token (RNDR) continues to ride a wave of bullish momentum, propelling it to achieve a remarkable new all-time high of $13.59 early in today’s trading session. 

This surge in price comes amidst anticipation of significant events on the horizon, notably the upcoming NVIDIA-powered AI conference GTC24 scheduled to commence on March 18-21.

According to insights from on-chain reports provided by Lookonchain, significant activity from large whales has been observed in the RNDR market over the past 24 hours. 

Three prominent whales collectively deposited 2.5 million $RNDR tokens, totaling $30.8 million, onto centralized exchanges (CEX) with the intention of realizing profits.

Some Notable $RNDR Whale’s Activity

One notable whale, identified by the address 0x22f, deposited 1 million $RNDR tokens, equivalent to $11.3 million, onto Binance approximately 20 hours ago. Based on current estimates, this deposit represents a realized profit of $24.08 million, reflecting an impressive gain of 387%. The whale’s remaining holding stands at 1 million $RNDR tokens, valued at approximately $13 million.

Additionally, two wallets, identified as 0x9f5 and 0x69f, jointly deposited 1.5 million $RNDR tokens, valued at $19.5 million, onto Coinbase around three hours ago. These wallets are believed to be part of a network that received 58.28 million $RNDR tokens from the Render network back in 2022 when the token price was a mere $1.41.

The significant influx of tokens onto exchanges by these whales underscores the heightened trading activity surrounding RNDR and indicates a strategic move to capitalize on the current bullish sentiment in the market.

As RNDR continues to garner attention and anticipation builds for the upcoming events, investors and traders will closely monitor its price trajectory in the days ahead.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: studiograndouest/123RF // Image Effects by Colorcinch

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