Bitcoin dominance lifts crypto market, Render shows resilience with whale activity
The cryptocurrency market has been experiencing a wave of activity as Bitcoin continues to assert its dominance. Amidst this, the altcoin Render (RNDR) has demonstrated notable resilience in the face of price volatility. Significant whale transactions involving RNDR have been observed on the exchange platform Coinbase (NASDAQ:COIN), revealing a dynamic redistribution among major players.
Spot On Chain, a blockchain analytics firm, has been tracking these whale activities, which included a group of four whales that moved approximately 8.13 million RNDR. This movement was part of a larger trading pattern where two prominent wallets sold around half of this amount, netting profits of $7.68 million.
In addition to these sales, wallets associated with Multicoin Capital were reported to be involved in transferring another large sum of RNDR, totaling about 3.52 million tokens, onto Coinbase. Following these substantial sell-offs, five new whales entered the scene, acquiring roughly 5.29 million RNDR.
