Render (RNDR), which attracted the attention of investors and experienced great increases in 2023, was on the agenda with serious profits. However, the popular altcoin RNDR is facing an unexpected situation with the huge whale sell-off.
RNDR Sales
RNDR is currently trading at $3.57, having experienced a 10% pullback from its peaks. Particularly in sales via Coinbase, four different whales sold a total of 8.13 million altcoins RNDR (worth $30.9 million) at an average price of $3.8. Whales 0x603 and 0xa63 (possibly an individual) sold 4.61 million RNDR (worth $17.5 million), making an estimated profit of $7.68 million. Other whales, 0x68d and 0x9bc (presumably Multicoin Capital), offered 3.52 million RNDR (worth $13.4 million).
While evaluating these sales, Spot On-Chain warned that if there are no buyers who can meet the sales of these whales, a correction trend may begin in the RNDR.
Giant Whales in the Foreground
The giant whale sell-off signals that the altcoin rally for RNDR is over and caution is needed in the crypto market. When evaluating this situation, investors should be careful about future price movements and follow market developments closely.
A New Era?
RNDR may enter an uncertain period with the whale sales. Investors should be careful and consider market volatility when managing crypto assets. In this process, future developments regarding the RNDR and the reaction of buyers may be decisive for investors.