In a month marked by significant value spikes across various altcoins in the cryptocurrency space, Render (RNDR), an AI-focused token, has emerged as a standout player in the AI sector.
Renowned for its role in AI infrastructure, RNDR has been drawing comparisons to industry giant Nvidia. In the past 30 days alone, RNDR has surged by an impressive 57%, hitting an all-time high of $13.59 this month.
On-chain data indicates a growing interest from whales in accumulating RNDR tokens. Lookonchain reports a notable transaction involving a wallet associated with Amber Group, which withdrew 99,998 RNDR tokens ($1.1 million) from Binance just 6 hours ago.
A wallet related to #AmberGroup withdrew 99,998 $RNDR($1.1M) from #Binance 6 hours ago.
This wallet has withdrawn a total of 1.07M $RNDR($1.1M) from #Binance at $4.68 and the unrealized profit is $6.82M.
Here are the top 17 assets held by this wallet and never sold.
The total… pic.twitter.com/apsLWaYqjS
— Lookonchain (@lookonchain) March 27, 2024
RNDR Whale Records Profits As It Moves Tokens Out From Exchanges
This particular wallet has executed a series of withdrawals totaling 1.07 million RNDR tokens ($1.1 million) from Binance at an average price of $4.68, resulting in an unrealized profit of $6.82 million.
The overall picture of top holdings showcases a substantial unrealized profit, surpassing $25 million across the top 17 assets. Impressively, only 3 tokens are experiencing losses, reflecting a commendable win rate of 82.35%.
As RNDR continues to gain momentum within the AI market, investors and enthusiasts alike are closely monitoring its performance. With its recent surge and increasing attention from whales, RNDR’s role in shaping the future of AI infrastructure remains a topic of keen interest and speculation in the cryptocurrency community.
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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