©Reuters.
The cryptocurrency market has seen a flurry of activity as the cryptocurrency continues to assert its dominance. In this context, the altcoin Render (RNDR) has demonstrated remarkable resilience in the face of price volatility. Large whale trades involving RNDR have been observed on the Coinbase (NASDAQ:) exchange, revealing dynamic redistribution among major players.
Spot On Chain, a blockchain analytics company, has been tracking these whale activities, including a group of four whales that moved approximately 8.13 million RNDR. The move was part of a larger trading pattern in which two large wallets sold about half that amount, realizing profits of $7.68 million.
In addition to these sales, wallets associated with Multicoin Capital were allegedly involved in the transfer of another large sum of RNDR, totaling approximately 3.52 million tokens, to Coinbase. After these substantial sales, five new whales entered the scene, acquiring approximately 5.29 million RNDR.
This article was generated and translated with the help of AI and reviewed by an editor. For more information, see our T&Cs.