Analysts from crypto data provider Santiment have identified increased whale and shark activity in the Render (RNDR) market. This has led to approximately a 33% price increase after a recent market low.
Increased Activity in the RNDR Market
According to analysts, whale and shark cryptocurrency wallets identified by their presence in the Render (RNDR) altcoin have accumulated an additional 20.54 million tokens over the past 11 weeks.
Large Token Accumulation
The total value of the tokens purchased by whales is worth $126.3 million. Currently, these large wallets own 91.82% of the total RNDR token supply. Some investors argue that this is worrisome as a significant portion of the token’s total supply is centralized.
Market Impact and Forecasts
However, it is noteworthy that cryptocurrency whales and sharks are showing significant interest in accumulating the RNDR token. Crypto analyst il Capo recently claimed that Nvidia stocks are about to make a new all-time high and suggested that this could affect AI-themed altcoins.
The activity of large crypto investors indicates significant interest in the Render (RNDR) token that could impact the market and the future development of this area.
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