Render token (RNDR) continues its impressive bullish momentum, gaining an additional 7% today and achieving a remarkable 38% surge over the past 7 days.
The sustained uptrend in RNDR’s value is attracting significant attention from investors and market observers.
Amidst this increasing surge in value, wallet 0x537, which is linked to Render Network, has been actively involved in strategic movements of RNDR tokens.
The wallet recently transferred 322,866 RNDR tokens, equivalent to $3.36 million, to Gate.io and GSR Markets in preparation for future deposits on centralized exchanges (CEXs), with an average price of $10.41.
A notable transaction occurred when the wallet received 1.67 million RNDR tokens, valued at $16.6 million, from Render Network’s Multisign 0xb6e just two days ago.
Subsequently, a portion of these tokens, totaling 665,666 RNDR, was deposited into Copper and GSR Market’s Binance deposit address at an average price of $10.47, amounting to $6.97 million.
The @rendernetwork appears to keep depositing $RNDR to CEX after the price surged ~40% (7D).
In the past hour, wallet 0x537 (linked to Render Network) moved 323K $RNDR ($3.36M) to #Gateio and @GSR_io Markets for future CEX deposits.
Since last Jan, the wallet has received 8.1M… https://t.co/2jBGKrpzbk pic.twitter.com/Kv9SMejhAk
— Spot On Chain (@spotonchain) May 9, 2024
Wallet Receives Huge Amount Of RNDR Token And Deposits Into Exchanges
Over time, the wallet has been a consistent recipient of RNDR tokens from Render Network, totaling 8.1 million RNDR at an average price of $8.38, equivalent to $67.9 million.
Notably, a significant portion of these tokens, approximately 6.52 million RNDR, has been strategically deposited into various CEXs at an average price of $8.66, totaling $56.4 million since January 10, 2024.
Interestingly, these deposits often preceded price drops, indicating a strategic approach to portfolio management.
As of now, the wallet still retains a significant holding of 1.14 million RNDR tokens, valued at $11.87 million, suggesting continued confidence in the token’s future prospects.
RNDR’s impressive price performance, coupled with strategic movements by wallet 0x537, underscores the growing interest and confidence in Render Network’s ecosystem. As the token continues to gain momentum, investors are closely monitoring its trajectory in anticipation of further developments and price movements.
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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