Bitcoin leading the way, the crypto currency market continues to witness the appreciation of many altcoins. One of the attention-grabbing altcoins, Render (RNDR), experienced an increase of more than 7% in its value despite its recent recovery. During this price increase, data provider Spot On Chain detected significant transactions by 9 crypto whales.
According to Spot On Chain, these whales redistributed approximately 8.13 million RNDR, valued at 30.9 million dollars, among themselves via Coinbase.
Four whales deposited the 8.13 million RNDR they acquired at an average price of 3.8 dollars to Coinbase. Wallet addresses starting with 0x603 and 0xa63 sold 4.61 million RNDR, making a profit of 7.68 million dollars. Wallet addresses starting with 0x68d and 0x9bc deposited 3.52 million RNDR to Coinbase.
Shortly after the sales, five new whales purchased an average of 3.81 dollars for 5.29 million RNDR from Coinbase.
Following the RNDR distribution, the altcoin experienced an increase of more than 7%. Prior to this increase, the price of the altcoin had shown a 20% increase in the last 7 days and a 65% increase in the last 30 days.
According to current data, RNDR is currently trading at 3.72 dollars, marking a 3.27% increase in the last 24 hours. The altcoin’s trading volume decreased by more than 15% in the last 24 hours, dropping to 110.8 million dollars.